Housing Affordability Down in Most Major Cities
How affordable is it to own a home in Canada? With all the talk about rising home prices and the fact that interest rates are going to rise soon, it seems housing affordability is slipping beyond our reach. And according to Royal Bank’s housing affordability index, a report released Tuesday, it is – at least…
Read moreManitoba Leads in Canadian Home Renovations
Home renovations are a great way to add value onto a house or turn it into the dream home the owner has always envisioned. But as people start to pay down their debt in Canada and start taking on fewer renovations, Manitoba still leads the way and are taking on just as many renovations as…
Read moreMany Canadians Making Extra Payments to Pay Down Debt
Finance Minister, Jim Flaherty and Bank of Canada governor, Mark Carney, may have thought that their warnings about our increasing debt levels have fallen on deaf ears – as they’ve had to repeat them time and time again. But a new study done for CIBC shows that we’ve been listening (or at least that we’ve…
Read moreIs it Cheaper to Live up North?
Forget about Ottawa mortgages and Toronto mortgages, it might be cheaper to live up North! A recent report from the Canadian Mortgage and Housing Corporation shows that it may be cheaper to live up North – way up North – than it is to live in the Southern parts of Canada. This, the figures show,…
Read moreWill we See Mortgage Wars III?
As one Spanish bank was left to “junk” status this weekend, and another Germany bank spoke out about refusing to help Europe’s failing economic system during their debt crisis, things pick up here at home. The crisis has investors fleeing the nation across the pond, and this has yields in bonds in Canada at all-time…
Read moreDebt is not Bad, just too Much of a Good Thing
Just this morning we talked about how sometimes, debt can be a good thing – despite all the warnings from the Bank of Canada and the federal government telling us to stop taking on Ottawa mortgages and second mortgages. But is all debt really that bad? We already know it’s not, and that some type…
Read moreUsing Debt to your Advantage
We’ve all been listening to Bank of Canada governor, Mark Carney and Finance Minister, Jim Flaherty warn us about the perils of debt for what seems like years now. We’ve been told we’re to stop buying homes we can’t afford, to stop using HELOCs like they’re ATM machines, and to be very careful with how…
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