Sudbury Seeing Growth All Around!
In May the credit agency DBRS published a report that said unemployment was a bigger threat to the Canadian economy than the housing market; because it’s unemployment that causes people to default on their mortgages and second mortgages. But if that’s true, Sudbury will be the exception. In this city, everything is just humming along….
Read moreBoC says Market will Cool, Moody’s Agrees
The Bank of Canada released its semi-annual Financial System Review this week and in it, they forecasted that the housing market in Canada was set to cool – a trend many have been worried about for the past year or so. The report, while not any real new news, does once again put the spotlight…
Read moreWhy no Borrower is Immune to Interest Rate Hikes
We’ve all been hearing Mark Carney at the Bank of Canada warn us about rising interest rates and what those are going to do to Canadians that are heavily in debt. And while the average debt-to-income ratio for Canadians is 153 per cent, even those who aren’t in too deep will feel the crunch when…
Read moreNo More Credit Cards?
After all his warnings about home equity loans, HELOCs, and household debt, Finance Minister Jim Flaherty might be encouraged by the news that credit cards are on their way out. But the relief will only be temporary, as plastic will simply be replaced by another way to use credit – a simpler, faster way for…
Read moreWe may be Overvalued, but still Better than the World
Canadians are prone to worry; it’s just one of those things that we’re really good at. And when homes in Vancouver are averaging prices of over $750,000 for a single detached; and the average amount for a Toronto mortgage is $650,000, it seems like there’s a lot for us to worry about. But we should…
Read moreWhat’s Happening in the Big 5
We talk a lot on this blog about Ottawa and Toronto mortgages, even touching at times on Calgary mortgages; and there’s good reason for it. These three cities, along with Vancouver and Montreal, make up nearly half of Canada’s entire population. So it stands to reason that a look at what’s happening in them paints…
Read moreOECD Concerned about Toronto and Vancouver, Too
Canadians have liked to talk about almost nothing else for the past year and a half except for the state of our housing market, especially those in Vancouver and Toronto. Now the Organization for Economic Cooperation and Development has also chimed in on the conversation, saying that these markets are highly overheated and that as…
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