Most B.C. Homeowners want to Pay Debt before Saving for Retirement
To pay off debt, or save for retirement? That is the question. At least, it’s the question that was asked by Manulife Bank to over 2,000 British Columbia homeowners. The answer came back, and they show that most homeowners in the province want to enter retirement debt-free – and that’s more important to them than…
Read moreIs the Housing Market Turning Canadians into Anarchists?
There are more than a few people in Canada who don’t agree with the changes being made to mortgages in Ottawa; but perhaps none are as loud as the Canadian Mortgage Trends. This site, one much like this but with many glaring differences, has spoken out about the government’s new rules ever since they started…
Read moreDo we Need More Rules? Or is it Enough Already?
So is Canada in a housing bubble or not? Do we need stricter rules on mortgages, or not? These are the debates that have been swirling around the country for the past year and now, one Toronto mortgage broker and one policymaker are coming to blows over it. This newest debate surrounds the Office of…
Read moreWomen First when it Comes to First-Time Homebuying
Who’s going to be next in line to purchase their first home in Canada? According to the latest RBC Homeownership Poll, it’s probably going to be a woman. The survey showed that of all Canadians that are thinking about buying their first home within the next two years, women top the results with 49% saying…
Read moreWhat’s a Hotel Condo?
Hotel condos might sound like something new in Toronto, where there are currently four of these projects (two already open and two coming soon,) but they’ve been in cities all around the world such as Hong Kong and New York for years now. A hotel condo is simply that – a luxury hotel that has…
Read moreHow to Lower your Credit Card Debt
Bank of Canada governor Mark Carney has repeatedly said that household debt in Canada is the “number one risk to the Canadian economy.” That debt includes Canadian and Ottawa mortgages and second mortgages, as well as consumer debt such as credit cards. And when you’re talking about the debt that hurts the household the most,…
Read moreHow a Shorter Amortization can Save you Big
We all know that there are many different ways you can save money on your Toronto mortgage. You can pay a lump sum when you have extra cash, be careful with home equity loans, and you can be very careful in selecting the product with the lowest interest rate. But another way to save on…
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