Toronto’s Market Slowing? Not Likely!
Just yesterday we published a post showing how Toronto’s housing starts had been down in May, whether this meant a slowdown in the market, and what that potential slowdown could mean. But stats on sales show that starts alone do not a housing market make – and it’s also very hard to dictate what the…
Read moreUsing a HELOC as an Emergency Fund
The Bank of Canada governor Mark Carney has been warning us all about taking on too much debt while borrowing rates are low; stating that when they rise, that debt will become unaffordable and leave many Canadian households strapped. But while this is sound advice, it’s also sound advice to capitalize on borrowing at a…
Read moreIs the Toronto Mortgage Market Slowing?
As soon as the Vancouver market settled down the Toronto market picked up where it left off; and it had many worrying that Toronto mortgages and Toronto homes were in a bubble that was about to burst. But it seemed the more people worried the busier Toronto mortgage brokers became, with new starts breaking ground…
Read moreHow do you Renew a Mortgage in Ontario?
With the Office of the Superintendent of Financial Institutions coming out with new proposed guidelines back in March, economists and homeowners alike became quite upset at the suggestion that homeowners would need to re-qualify when it was time to renew their mortgage. This would mean that when renewal time came, homeowners would need to verify…
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How to Discharge a Toronto Mortgage
How a mortgage discharge works in Canada Congratulations! You’ve paid off your mortgage and are about to discharge one of the biggest debts you’ll carry in your lifetime! But, how do you go about getting rid of that mortgage once and for all, and getting it officially off your record? You need to officially discharge…
Read moreRenovations Down Across the Country Last Year
Getting a home equity loan or a home equity line of credit can be a great way to pay for home renovations. But perhaps Canadians are starting to heed Mark Carney’s warnings about debt as fewer of us embarked on home renovations last year; and the majority of those that did chose not to borrow…
Read moreWorries about the Housing Market? Not as Long as There’s Mortgage Demand!
While economists continue to fret about the state of the country’s housing market, there’s one group that says there’s no need to fear, mortgage demand is here! Home Capital Group held their inaugural Investor Day on Thursday, a conference that looks at the economic and investment affairs; and yesterday, the housing market in Canada’s major…
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