Maintaining a Good Credit Rating as Mortgage Rules Tighten
Personal debt levels in Canada are at an all-time high. In April, 2010 the federal government will begin tightening the rules on mortgage lending. Banks are also implementing tougher standards for lending money. In short, it is getting harder to borrow so a good credit rating is a must.
Read moreDo You Understand Your Mortgage Agreement?
Think you know the terms of your mortgage agreement? Well, according to this article, many home buyers don’t understand the terms used in their mortgage contracts. For the majority of us, buying a home is the biggest purchase that we’ll make in our lifetime.
Read moreVariable or Fixed-Rate – Which Mortgage is Right for You?
I was talking with my dental hygienist the other day—or as well as anyone can have a discussion while having their teeth cleaned. She’s bought a condo and it’s time for her to move in and she can’t decide whether or not to take a variable or fixed rate mortgage.
Read moreTime for Toronto Home Buyers to Come Out for Air?
The Toronto Real Estate Board (TREB) reported last week that home sales are up 70 per cent from the same time last year, when Canada was still deep in the recession. The recent record breaking warm temperatures are being cited for bringing out homebuyers during the first half of March.
Read moreAre High Personal Debt Levels a Risk to the Canadian Economy?
What impact will personal debt have on the economic recovery that is now underway? It is just one factor among many, but high indebtedness will contribute to the slower-than-average economic growth expected in Canada over 2010 and 2011.
Read moreNever Been a Better Time to Purchase in the Sunbelt
I was in Florida last week and while temperature-wise it was quite chilly, the housing market is heating up for Canadians looking for bargains-in some cases half-price-on real estate.
Read moreHome Bidding Wars – Tips on Increasing the Value of Your Home
Last month I wrote about how home buyers were becoming wary of getting entangled in bidding wars. This week I came across this excellent article that discusses the pros and cons of creating bidding wars.
It’s starting to become standard practice to under price real estate and then hold all offers for a period of time. The idea is to create a multiple offer situation.
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