Luxury Homes not Being Hit by Mortgage Rules
Everyone is still feeling the hit from the mortgage rules that were imposed a year ago (in two days, to be exact.) One of those rules eliminated mortgage insurance for luxury homes altogether, which had many thinking that this would severely affect the sales in this market. As it turns out though, the rules haven’t…
Read moreWhy Renting to Own Still Leaves a Bad Taste
While renting to own homes can be a great option for those that don’t have the credit or the clout to get a mortgage on their own, it still sometimes leaves a bad taste in the mouths of consumers. Doesn’t rent to own come with huge interest fees and costs attached? And isn’t it all…
Read moreWhy the Rising Mortgage Rates don’t Spell Disaster
It was the beginning of last month when bond prices plunged and RBC increased mortgage rates in response. Not too long after Scotiabank and TD followed suit. But while homeowners and home buyers are groaning about these higher mortgage rates, they’re not all bad. And in fact if you look at them from a certain…
Read moreHow to Know You’re Working with a Registered Investment Adviser
This morning we ran a story about a B.C. widow who was the victim of investment fraud, after trusting the wrong “investor” with her money – lots of her money. Stories like this aren’t meant to frighten and scare, or make people wary of investing their money; but rather, they’re a warning tale about the…
Read moreRBC the First to Raise Mortgage Rates due to Plunging Bond Prices
There is balance in everything. When one area of the economy goes up, another part must go down. It’s economic balance, and it’s what’s caused RBC to become the first major lender to raise its mortgage rates. At the end of last week it was reported that Canada added 95,000 jobs in May, a huge…
Read moreSix Pitfalls to Avoid when Getting a Mortgage for Your Investment Property
Getting a mortgage can truly be an overwhelming, and sometimes terrifying, experience – especially if this is the first income property you’ve ever purchased. But if you keep your wits about you, and know which traps and pitfalls to avoid, you’ll be approved for your mortgage quickly, won’t end up paying too much for it…
Read moreBanks Looking for Alternative Sources of Profit as Residential Mortgages Slow
It’s no secret that home sales are slowing all over Canada. And along with that, mortgages are starting to dry up at the big banks, too. It’s for this reason that experts believe the trend at banks is going to be starting to focus on commercial lending, capital markets, and other forms of profit that…
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