Should you have to Take a Class before Getting a Mortgage?
Just recently Troy Media and the Macdonald-Laurier Institute sat down with Jane Londerville, Associate Professor of Real Estate at the University of Guelph, to speak about the mortgage market and the problems its currently facing. One of those problems she says, is that first-time homebuyers simply don’t have enough money to pay a mortgage, even…
Read moreWill Interest Rates be Lowered? Mark Carney won’t Hear of It
Interest rates can be a fun thing. When Mark Carney made his interest rate announcement back in April, it gave a fairly positive outlook for the global economy; and that made everyone think that interest rates could be raised from their historic lows. Then with the last rate announcement in June, that positive outlook was…
Read moreWhat’s the Point of Eliminating Insurance on Millionaire Homes?
When Finance Minister Jim Flaherty announced the changes to amortization periods on insured mortgages, and the amount that can be borrowed on HELOCs, he also announced that mortgage insurance would no longer be available on homes priced at $1 million or more. But with homes in that category taking up so little of the marketplace,…
Read moreWill the New Mortgage Rules Strain Calgary Homebuyers?
Everyone thought that when the new mortgage rules were announced all eyes would be on Toronto. But even if that’s true, there’s some concern out West, and it’s in regards to Calgary mortgages. Here, some buyers may get priced out of the market. Luckily, it seems their economy can handle it. Ann-Marie Lurie, senior economist…
Read moreWhat the Experts Say about Tighter Mortgage Rules
Everyone’s talking about the changes to mortgages in Ottawa that were announced by Jim Flaherty yesterday. Once in effect, these rules will scrap mortgage insurance on homes worth over $1 million, as well as on any HELOCs; and the new rules will also lower amortization periods on insured mortgages to 25 years instead of 30….
Read moreThe Housing Boom Doesn’t have much Life Left
Even those who never thought the Canadian housing market was ever in a bubble have forecasted some kind of correction to happen within it in the next year or two. And now, we know that correction is coming. According to a Reuters poll conducted last week, Canadian home prices are set to rise by about…
Read moreMortgage 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…
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