Canadians want to be Mortgage-Free by 55, and they Can!
If someone were to tell you today that they wanted to be free and clear of their Toronto mortgage by the time they turn 55, would you laugh outright? Or perhaps wish them the best of luck while walking away and snickering behind your hand? Sure, in today’s housing environment with high prices that are…
Read moreLow-Maintenance Lawns are Greener and Cheaper
This is the time of year when many Canadians turn to things like home renovations, especially those outside – and they also turn to things like home equity loans and home equity lines of credit in order to pay for those renovations and remodels. If you’re one of the many that are doing that very…
Read moreExperts and BoC Governor Worried about Bubble
It’s a fact. You just can’t talk about today’s real estate market without mentioning the word “bubble.” Jim Flaherty spoke about it on Friday, and now Prem Watsa, chief executive officer of Fairfax Financial Holdings Ltd., and the Canadian investor who was the first to predict the crisis in the United States, says that if…
Read moreCMHC Changes: Good, Bad, or Indifferent?
There’s been a huge amount of talk this week surrounding the most recent changes made on mortgages in Ottawa. While this one – the changing of CMHC’s oversight and governance – isn’t nearly as severe as the other changes Ottawa has made, Jim Flaherty is still hearing a lot about it. Some think the changes…
Read moreWho’s to Blame for the Bubble?
Is Canada in a housing bubble? If it’s not, it’s getting dangerously close to that point. But who’s to blame for it? According to Jim Flaherty, it’s partly the fault of the builders and developers in hot markets like Toronto who continue to build. But the banks part in it can’t be overlooked, and the…
Read moreRate Hike Unnecessary Right Now, say Experts
Just when we thought we had all agreed that a slight increase in interest rates could help to cool Canada’s hot housing market, two experts are weighing in to say that a hike could actually hurt our economy more than help it. According to Derek Holt and Dov Zigler, economists at Scotia Capital Markets, our…
Read moreMore Canadians Choosing Shorter Amortizations
There are lots of ways Canadians are trying to save money on their mortgages. Just two days ago we told you about how more Canadians are choosing the budget-friendly fixed rate over the variable rate, which is thought will be going up quite soon. But now, we’re finding yet one more way to save money…
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