Housing Market Slow Last Month
The Canadian Real Estate Association announced last week that home sales across the country dropped by 4.5% from the month before. The news is not that surprising, as the winter months are often slow in the market with homebuyers spending time and money on holiday shopping, and then trying to catch up on that spending….
Read moreHow can you Save Money on your Home? Stay in it!
Homeowners are always looking to save money on their homes. Whether it’s by installing energy efficient appliances, making renovations that increase the value, or just turning lights off when they leave a room – it’s clear that we don’t want to spend a penny more on our homes than we have to. But what’s really…
Read moreShould You Trade Debt for an Education?
It’s a dilemma that the majority of senior high school students, and some adults later in life, find themselves asking. Should you go into debt in exchange for a good education? It’s no secret that tuition costs in Canada are extremely high, and they’re no joke either. Earlier this month, students across the country held…
Read moreCanadians Relying too Much on Home Equity, says Bank of Canada
Early in January Canadians gave themselves a collaborative pat on the back when we found out that we’re getting better at paying off our credit card debt. But, we might want to hold up just a second on that congratulatory pat. The Bank of Canada now says that we have another kind of debt to…
Read moreOttawa and Mortgage Brokers Don’t See Eye to Eye
Ottawa is concerned about rising household debt levels. And they want to make sure that individuals aren’t taking on more debt at a time when they can least afford it. Mortgage brokers agree that people shouldn’t take on debt they can’t properly handle, but they don’t think there’s any danger of that happening in exponential…
Read moreMortgage Fraud Hitting an All-Time High in Canada
Here’s some disturbing news. Mortgage fraud in Canada has risen 150% just over the last year. What is mortgage fraud? According to Wikipedia, it is “crime in which the intent to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been…
Read moreHandling HELOCs Properly
The Globe and Mail recently published an article talking about home equity lines of credit, and the pitfalls that many homeowners can run into when using them as a borrowing tool. In the article Stephanie Holmes-Winston, president of The Money Finder talked about the mistakes she sees homeowners continually making with HELOCs; and how those…
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