Confusion Surrounds Canadian Housing Market
The confusion with the current state of the Canadian housing market began when interest rates were set to record lows early last year. That created a surge of homebuyers, and of home sellers that knew those buyers were ready to pay whatever price was put on a home. That led to home prices climbing and…
Read moreBefore Becoming a Landlord, get Your Own Home in Shape First
“There’s been a lot of talk about rental properties lately and it’s no wonder why. With the rental market getting hotter by the day, and prices continuing to increase on the housing market, a lot of people are finding renting a better option. And while for the moment, renters can rejoice and enjoy being on…
Read moreDo Women Get a Worse Deal on Their Mortgages?
“True, speaking in general terms, it’s probably safe to say that women usually enjoy shopping more than men. But that doesn’t seem to be the case when it comes to their mortgages, and it could be costing them a bundle throughout the term of their mortgage. The information comes from a new study published by…
Read moreMortgage Debt for Canadians is Going Down
For months we’ve been hearing about how Canadians need to start taking their debt seriously. The federal government started that ball rolling early in the year, putting tighter restrictions on secured line of credit borrowing. Canadians in turn, started to take their own debt seriously. Maybe because of the economic uncertainty around the world, or maybe just to keep our economy’s head above water – something we managed to do even during the recession. But among all the talk, there was always one exception – mortgages
Read moreBank of Canada’s Interest Rate, and Predictions
It’s the Bank of Canada that more or less determines the interest rates you’ll be paying on your mortgage; so when they speak, we listen. On Tuesday of this week, the Bank announced that it will keep its overnight interest rate at 1%. While this wasn’t really huge news, given that the same announcements were also made in July and September, this time the Bank also made some observations about the Canadian economy, and what the country’s financial situation is going to look like for the next year or two.
Read moreVancouver Hardest Place in Canada to Raise Young Families
It’s no secret that housing prices in Vancouver are ridiculously high when compared to the rest of the country – and with many places in the world, with the average Vancouver home cost around $750,000. This makes things like mortgage payments more challenging than ever, but what about all the other things? Food, clothing, daycare, utilities, and everything else that goes with life? It’s challenging. And if things don’t change in Vancouver, and the rest of B.C. very soon, the province could go from being one of the best places in the country to live, to one of the most dire.
Read moreNHA MBS Levels are Dropping – What does that mean?
To really understand what it means when NHA MBS levels fall, you first need to know what the NHA is, and what its MBS are. And even though it might all sound like too much, it’s really very simple, and a concept that most of us are already familiar with. The NHA is the National Housing Act, an act implemented in 1983 and that is now regulated by the CMHC – the Canada Mortgage and Housing Corporation. The NHA’s MBS are mortgage-backed securities. In other words, these are the mortgages insured by the CMHC. And these insured mortgages have recently made news as the number of them dwindles. But what does that really mean?
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