Looking to Buy a Rental Property? Beware of Big Bank Changes
If you’re looking to buy a rental property, you should know about the changes by the big banks. They were introduced a few weeks ago. Of course, you know that in order to be approved for a mortgage, your broker or bank will be looking at your debt-to-income ratio. This will tell them how much…
Read moreTighter Rules Mean More Good Mortgage News
Who could forget the uproar hear round the country last year when Finance Minister Jim Flaherty announced tighter mortgage rules? And we practically had to cover our ears just last month, when CMHC announced they too would be introducing tighter lending rules to lower the amount of mortgage insurance that was being given out. But…
Read moreThought Bathrooms and Kitchens got all the Home Renovations? Think Again!
When homeowners think of the different home renovations they can make to increase the value of their home, it’s often the kitchen and the bathrooms that they think of first. Or are they? While it’s known that remodeling these two rooms in any home will up the resale value of a home, and help with…
Read moreNational Household Survey Yields Unsurprising Results
We’ve all been waiting anxiously for the results of this year’s National Household Survey to be released, and now here they are. For those that have been waiting for earth-shattering news though, the actual results may not be all that shocking. When it comes to overall home ownership rates, in 2011 the survey showed that…
Read moreWhy Does Scotiabank want BoC to Raise Rates?
Here’s a riddle for you. Housing markets are up all across the country, and economists and the government have both agreed that there’s likely no hard landing to be felt in this country. So why then does Bank of Nova Scotia’s chief executive officer, Rick Waugh, still feel as though raising the key policy interest…
Read moreBoC Leaves Interest Rate at 1%
Stephen Poloz has been the Bank of Canada Governor since June 1 of this year, when his predecessor Mark Carney took off across the pond to go head the Bank of England. In that time he’s seemed very comfortable as the new BoC governor, and he’s made it quite clear that he’s also comfortable with…
Read moreCMHC Insurance Slows, Showing there is no Major Collapse on the Way
During the heyday of the Canadian real estate market, it seemed as though there were plenty of things to criticize, and they all led to the same end result – a major collapse. One of those criticisms was the fact that CMHC, the Crown agency that insures mortgages from default for the bank, was taking…
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