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Canada’s Economy Shows Progress as Housing Market Awaits Fallout from New Mortgage Rules
Canada’s economy created 43,900 jobs in October, marking the first back-to-back gains in employment in over a year. On the housing front, real estate sales are diverging between East and West, as markets await the fallout from Ottawa’s new mortgage rules.
Read moreIt’s Going to Get Tougher to Get a Mortgage
Well, it looks like people can put off any talk of a housing bubble. If Canada were in one, the government and the CIBC have started to deflate it by now making it that much harder to buy a home. It’s not impossible no; and we’ve certainly had tighter rules and way, way higher interest…
Read moreAre you in the Habit of Spending Money?
At a time when the government keeps warning us about record-high household debt levels, and people can’t seem to save more than they spend, the Everyday Money blog brings us an interesting post about a book written by David Krueger. The book is called “The Secret Language of Money” and in it, the author points…
Read moreA Closer Look at REITs
Yesterday we warmed up all of our readers for our REIT miniseries by taking a quick look at them and finding out just what exactly, REITs are really all about. In our post yesterday we talked about how REIT stands for “real estate investment trust,” leaving many thinking that it’s a trust fund; but it’s…
Read moreVariable or Fixed: The Question Remains
With so many banks in Canada offering such hugely discounted rates, homeowners looking to refinance and home buyers looking for their dream home are once again faced with that age-old question: should we get a variable or fixed rate on our mortgage? Truthfully, this is a question people are going to be asking their entire…
Read moreWhat the Interest Rate is Going to Do
Everyone eagerly waited to see what the Bank of Canada would do with the interest rate yesterday, as many homeowners sat waiting to see if now would be a good time to refinance their mortgage. It was expected that the overnight rate would remain at 1%, the same rate it’s been since September of 2010…
Read moreA Closer Look at the Banks’ New Deals
Homeowners and homebuyers rejoiced on Wednesday when the Bank of Montreal lowered their 5-year fixed rate deals to 2.99%. Meanwhile, many of the other major lenders in Canada were in a panic to also come up with new products and packages to match BMO’s offer. The bidding war was the best mortgage news Canadians had…
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