Canada has More Insured Mortgages, but Fewer Defaults than the States
For years we’ve been making comparisons between Canada and the United States. Truth be told, we’ve probably been making those comparisons ever since there was a border went up between the two countries. But in the past five years specifically, we’ve been making comparisons between their housing market that imploded on itself, and our housing…
Read moreNew CMHC Rules will Result in Higher Mortgage Rates
It’s widely known that mortgages backed by CMHC are largely default-proof on the part of the lender, because they’re guaranteed by the Crown organization. It’s also known that CMHC has been nearing its limit for mortgage insurance, and that Finance Minister Jim Flaherty has no interest in increasing that limit at all. Now, the pressure…
Read moreToronto and Vancouver See Huge Improvements!
June wasn’t a terrible month for Toronto home sales, but it still did see some declines due to the fact that last year at the same time, the mortgage rules hadn’t yet gone into effect. It was only a week into July 2012 when they did though, providing for a much better year-over-year comparison for…
Read moreWould a Tax Credit Keep Contractors, and Homeowners, Honest?
It’s not uncommon for things to go illegitimately awry when you take on home renovations. Just last week we talked about how contractors can sometimes be dishonest; and we all know that homeowners undertaking expensive renos are sometimes wont to take shortcuts from time to time. Especially if they can save a few bucks while…
Read moreWant to Skip a Home Inspection? Here’s what to Expect if You Do
Yesterday in our weekly Money Talks edition we talked about Gail Vaz-Oxlade, and her insistence that you get a home inspection with any and every home you want to purchase. Even if that’s your dream home and you’re trying to make the deal go through quickly. But why is it so important? What’s included under…
Read moreMoney Talks: Volume 36
Credit card interest rates and back to school shopping top this week’s personal finance section, while Gail Vaz-Oxlade tells us why it’s so important to include conditions in your offer to purchase – even when you’re dying to get that home. Meanwhile, they now have an idea of just how much infrastructure was damaged from…
Read moreThe One Place You Should Never get a Credit Card From
There’s a lot to consider when you sign up for credit cards. You need to look at the interest rate, any awards or points you may rack up while using it, and of course the balances and cash limits you’ll be given. But have you ever thought of where you’re getting that credit card from? If…
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