Would You go to Wal-Mart for a Mortgage?
The idea of retail stores opening up a mortgage business is really nothing new. Costco started offering mortgages here in Canada in 2010, and the retail giant has recently opened its doors on the mortgage business in the United States, too. Several years ago Canadian Tire tried to open its own little mortgage side business,…
Read more3 Reasons Why Falling Home Prices are a Good Thing
There are many right now that are panicked over our housing market. “The bubble has finally burst,” they say; or “Canadian homeowners are all about to find themselves underwater.” But wait. Before we start sounding the alarms and blaming the government for forcing a cool-down, and the falling home prices that go with it, let’s…
Read moreToronto Builders Cry Out as Mortgage Rule Effects are Felt
First CAAMP was asking the federal government to rescind the mortgage rules that went into effect in July, and now Toronto builders are doing the same thing. According to their latest statistics, the Building Industry and Land Development Association (BILD) says that sales in the GTA have dropped by 14% in the first 10 months…
Read moreHomes Becoming More Affordable – But Don’t get Too Excited
According to RBC’s affordability index, the cost of homes in Canada is becoming more affordable. But before you get too excited, you should know that regardless of what the index is, properties still have a little ways to go before they become truly affordable for the average homebuyer. RBC’s affordability index shows that due to…
Read moreThinking of Refinancing? Now is the time to do it!
The last time Mark Carney spoke about interest rates, he said that hikes were “less imminent.” And now that he’s leaving us for the Bank of England, it’s likely that he won’t have to speak about them at all; as rates probably won’t go up until midway through next year. Still, even they do go…
Read moreWhere are You Putting Your Home Reno Junk?
Aw, home renovations! You’re about to have a beautiful new room, a sturdy new roof, or new floors throughout your home, and it’s gonna’ be great! But first, you have a bunch of wood, metal, scraps, and other home renovation debris that you need to do something with. If you’ve hired a contractor to do…
Read moreMortgage Rules Working as Level of Insured Mortgages Drops
Well last week CAAMP was crying out for the federal government to revise the mortgage rules that went into effect in July, as they were hurting an already struggling market. But CMHC has released new stats showing that the amounts of both insured mortgages and home refinancing have dropped drastically. And that’s exactly what Finance…
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