Should Banks, not Government, be in Charge of Tightening Mortgage Rules?
Canadians remember with vivid clarity when Jim Flaherty tightened the rules on Canadian mortgages, and for anyone who wanted to get a HELOC. And while it was probably a good move, to keep us from getting in too deep like our neighbours south of the border, now an interesting proposition may be on the table….
Read moreTD Bank is No Follower
Perhaps wanting to win back the hearts of many Canadians after pulling out of their discounted mortgages early, TD Canada Trust has come out with yet another announcement – it will still loan to stated income borrowers! The news comes one week after CIBC said that their stated income mortgages will no longer be on…
Read moreBanks Pull Out of Discounted Mortgages Early
There was a lot of talk in January about many of the major banks in Canada trying to beat each other out for the best mortgage deal. BMO was the first bank to start offering hugely discounted rates and packages, but they had a two-week stipulation for running the promotion. When many of the other…
Read moreUnderstanding Old Age Security
It was just a couple of weeks ago that Stephen Harper proposed raising the age of receiving Old Age Security benefits at the World Economic Forum; and sent Canadians into a near-riot at the very mention of such a thing. Before any official proposal was even put forward, or before Harper could fully explain what…
Read moreShould You Buy or Build? 4 Things to Consider
So it’s time to buy a home. You’ve been hitting the streets now for weeks looking at home after home, only to be disappointed with all of them. It looks like you’re never going to find your dream home and you start to think that you should just build the thing yourself. So, should you?…
Read moreUnderstanding HELOC Fees
Ask any major bank or lender about a home equity line of credit in Canada, and be prepared to spend the next few minutes listening to how wonderful they are, how you only have to pay the interest every month, and how they’re ready for any financial emergency you come across. And the truth is,…
Read moreSuper Bowl XLVI: Breaking down the Numbers
Yep, we talk numbers an awful lot on this blog. Whether it’s the interest rate, home equity calculations, or helping you figure out what you’ll pay for your second mortgage, when you talk mortgages you talk numbers, and we do it a lot. But today is a special day, it’s the Super Bowl! And while…
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