Interest Rates will Remain Low, How Does that Affect Borrowing
The speculation is over. Analysts and experts can stop talking about “what if” interest rates are hiked by The Bank of Canada, because they’re not going to be. Mark Carney, governor of The Bank of Canada, said today that due to the uncertainty of the global economy, the bank will keep the interest rates low. While this news obviously has all Canadian homeowners rejoicing, it also has them asking some questions about what to do now for their borrowing needs.
Read moreAre Rent-to-Own Homes a Scam?
Rent-to-own homes, homes that you move into and pay rent for a little while before buying the property outright as your own, are becoming extremely popular in an economy in which mortgages are just too hard to get on your own. This is actually what makes them especially attractive options for people with low or bad credit because you don’t need to have mortgage financing in place. But some rent-to-own leasers have found problems with this type of arrangement. Either the initial owner doesn’t pay the mortgage while they’re paying the rent, or when it’s time to buy, the owner no longer wants to sell. So how can you tell if rent-to-own homes are a good buy, or a bad purchasing decision?
Read moreThe small picture
Looking at the big picture in the housing market it is easy to conclude that the housing boom should be bracing for a crash. It seems that with all that is going on in the world and especially with our closest southern neighbor, that the constant calls for interest rate increases continue to to be muted and…
Read moreRate Hikes Delayed
Analyst in April were calling for rate hikes by mid-July. However according to new econolic reports, rates are not expected to go up until at least Fall. There are a number of factors influencing it, such as the strength of the Canadian dollar effecting our export relationships and as a result creating a balancing act…
Read moreCottage Season
Summer homes have long been a part of the heritage of many city bound families that relish the summer months when they can escape to the cottage and forget the hustle and bustle of city life. However, with the onset of the recession it seemed that unless you were in the income bracket that could…
Read moreThe Power of Home Equity
In today’s financial climate it is becoming more and more important to expand and diversify financially. Many people have left the “security” of their full time, salaried jobs for the uncertainty of self employment. The reason being that there is no security in today’s corporate atmosphere. Restructuring and cut backs have been the norm for the…
Read moreWhich Market is better: Buyers or Sellers?
A hot market is a “seller’s market”, where properties can sell within a few days of being listed, there are often multiple offers, and sometimes homes even sell above the asking price. A “buyer’s market” on the contrary usually includes houses that may sit on the market for some time. It can also be characterized…
Read more
Contact Us
Contact us today to set up an appointment.