Economy

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Canada’s Housing Market: Slow and Steady Wins the Race

Canada’s Housing Market: Slow and Steady Wins the Race Following the federal government’s latest mortgage requirements, the Canadian housing market has seen a dramatic downturn in sales. Over the past few months, cities such as Barrie, Toronto, and Vancouver have gone from having houses sell within 24 hours to houses sitting for weeks - in [...]

By |2018-12-21T20:14:48+00:00October 30th, 2018|Economy|Comments Off on Canada’s Housing Market: Slow and Steady Wins the Race

Your mortgage is about to get more expensive

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in [...]

By |2018-01-20T15:34:49+00:00January 20th, 2018|Economy|Comments Off on Your mortgage is about to get more expensive

Canadian Spring Real Estate Market Shows Promise for 2017

Spring is a unique season in real estate terms. It’s the time of year when we see the most activity, with “For Sale” signs dotting nearly every neighborhood, and open houses and showings become the norm across the country. The Star has already dubbed it “a ... spring real estate season like none in memory.” [...]

By |2017-05-15T14:45:10+00:00May 15th, 2017|Economy, Mortgage Products|Comments Off on Canadian Spring Real Estate Market Shows Promise for 2017

New Measures to Cool Red-Hot Property Market

The Canadian Real Estate Association (CREA) recently reported that February home sales across Canada rose 5.2 percent on a month-over-month basis to reach a level that’s just 0.8 percent below the highest peak ever seen in April 2016. There have been reports on the likelihood of policy intervention by different levels of government to address [...]

By |2017-03-23T18:31:45+00:00March 23rd, 2017|Economy, Mortgage Rules, Mortgage Tips|Comments Off on New Measures to Cool Red-Hot Property Market

Latest Mortgage Lending Rule In Effect Oct 17

How does the latest mortgage lending rule affect you? The federal government introduced a new mortgage rate stress test for all insured mortgages effective Monday October 17th creating a new challenge for potential homebuyers in Canada. Essentially the new regulation is aimed at protecting the financial wellbeing of Canadians to support the stability of the [...]

By |2017-01-04T00:58:49+00:00October 18th, 2016|Economy, Mortgage Tips|Comments Off on Latest Mortgage Lending Rule In Effect Oct 17

New Rules Affecting the Alberta Housing Market

New Mortgage rules were put in place after the worldwide economic downturn that was spurred on by the housing crisis of the last decade. The legislation was meant to protect lenders and homeowners from high-risk loans that lead to high volatility on the market. Even though the government enacted these laws to help quell markets [...]

By |2017-01-04T00:58:49+00:00December 14th, 2015|Budgeting, Debt management, Economy, Mortgage Tips|Comments Off on New Rules Affecting the Alberta Housing Market