Mortgage Rules Tightened Again
After experts have been calling out for the past several months on stricter rules on mortgages, Ottawa has made them. On Wednesday, Finance Minister Jim Flaherty announced that for the fourth time in four years, mortgages in Canada are changing. The first new rule announced was that amortization periods on government-insured mortgages would be reduced…
Read moreThe Five Best American Real Estate Markets
Toronto and Ottawa mortgages are typically our focus on this blog. But with real estate prices rising in both cities, and with rock-bottom prices still being seen in the States those who want to take out a second mortgage to buy a vacation property, and investors, can’t help but turn their eyes south. It can…
Read moreTime to Renew? Speak to Your Mortgage Broker
Summer is thought by many to be the wedding season; but it’s also the mortgage renewal season. Yes, it’s during the summer months that mortgages most often come up for renewal; and why, if this season is your time to renew, your bank may already be calling. Banks like to call a few months ahead…
Read moreToronto’s Market Hot, Vancouver’s is Not
Garth Turner calls it the “Vancouverization of Toronto,” and there might not be a more apt term. It’s exactly what chief economist at Gluskin Sheff, David Rosenberg, looked at when he wrote his report last week titled “Tale of Two Cities.” In the report Rosenberg compared the Toronto mortgage and housing market to that of…
Read moreCopying Canada
When we’re comparing our country with other nations, it’s typically the States that we all look at. This is true for fashion trends, music, even many of our commercials. But when it comes to their mortgage and housing industry, we don’t want to touch it. In fact, we’ll do just about anything to differentiate ourselves….
Read moreWill a Housing Bubble become a Self-Fulfilling Prophecy in Canada?
Larry MacDonald is a former Canadian economist who now spends his time managing his own portfolio and writing books on investment. He also writes for a blog on Canadian Business and recently, he wrote a post titled “When will housing Armageddon arrive?” The post drew more than its fair share of critics on the Web;…
Read moreWho’s Profiting from Housing Bubble Fear?
There are many economists and analysts in Canada who think that we’re currently in a housing bubble. And there are some, such as Bank of Canada Governor Mark Carney, that won’t even utter the word. But while housing bubbles usually don’t spell good news for anyone, there are some that are profiting from it. And…
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