Are HELOCs The Hot Mortgage Product of 2011?
If you don’t know what the term HELOC means, then you’re probably just coming out of your annual winter hibernation. H.E.L.O.C.s, also known as Home Equity Lines of Credit are one of the fastest growing segments of the mortgage industry. Its not hard to understand why. An article in the Montreal Gazette recently investigated the…
Read moreCanadian Housing Market In A Bubble?
There has been much talk over the last 6 to 12 months regarding the state of the Canadian housing market, and the future fate of housing prices in Toronto and the rest of the country. I’m not sure about you, but most people I know and speak with find it difficult housing prices relative to…
Read moreAverage Household Debt-To-Income Ratio at 150% Even as Credit Card Debt Falls
Average Canadian household debt stands at a record $100,000 and the savings rate has plummeted to 4.2%. But surprisingly, credit card debt in the last quarter of 2010 was down 2.7%, with many Canadians using lines of credit to pay off their credit card balance.
Read moreEconomy Shows Further Signs of Revival
The Canadian manufacturing sector is looking up, boosting the GDP and raising hopes for a stronger 2011.
Read moreNew Mortgage Rules Positive for Canadian Banks: Moody’s Investor Service
Moody’s Investor Service says that the new Canadian mortgage rules are positive for banks and will contribute to the stability of Canada’s financial system.
Read moreCanadian ‘debt fear’ may lead to slower lending growth for banks
According to reports, the growth on mortgage and personal lending may be about 3% to 5% for the next two years.
Read moreShorter Mortgage Amortization Keeps Canadians’ Best Interests in Mind
The recent announcement by the Canadian government to reduce the mortgage amortization period from 35 years to 30 years is aimed at lowering the risk of a housing market bubble.
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