Who Goes on an Ontario Mortgage if You Are Common-Law?
You’re in love, and want to buy a home together! Fantastic! Buying a home together is a wonderful thing and typically, not so complicated – for those that are already married. But what if you’re not married, but are considered common-law? In Ontario, you are considered common-law partners if you have lived together with someone…
Read moreImports/Exports, the Economy, and the Housing Market Relationship
You almost can’t talk about the Canadian economy without talking about our imports and exports. These make up a large percentage of our GDP, and our government’s profit, which affects everything right down the wire, to national debt and federal taxes. But just what do our imports/exports and the economy have to do with the…
Read moreHow is Canada’s Housing Market Tied to the Economy?
We all hear talk all the time about the effects Canada’s housing market has on the economy. Consumers can’t be pushed out of the market with overvalued properties, because this would be a huge drag on the economy. The federal government must be careful about the rules they impose on mortgages, because that will slow…
Read moreMark Carney Clears Up Confusion Over Rate Policy
Is he raising them? Is he lowering them? Canadians watch the actions of Bank of Canada Governor, Mark Carney, very closely; mostly, whether or not he’s going to raise or lower the overnight lending rate. But it often seems like he says one thing one announcement, only to say something different the next. One time…
Read moreCMHC Housing Forecast Weaker than Originally Thought
We all know there’s a softening going on right now in most Canadian housing markets. Homebuyers know it, home sellers know it, and now, CMHC knows it, too. While the Crown corporation has undoubtedly seen the softening going on for several months, now they’ve come out with a new forecast for the remainder of this…
Read moreFour Common Questions About Debt Collectors, Answered!
With so much talk of our household debt, and how the debt-to-income ratio is now 163%, there also comes a lot of questions about debt collectors. Even if you don’t have any debt now (which is unlikely, given recent statistics,) the chances are good that at some point or another in your life, you have…
Read moreIs Your Home an Expense, or an Investment?
Scotiabank recently surveyed a group of homeowners, asking them everything from whether they considered their home as an expense or investment to whether or not they’ll still have a mortgage when they enter retirement. Here are the findings from that survey. Expense, or Investment? As you can see from the above chart, a large…
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