Prices come down. Real estate prices have stabilized across the country and even dropped in some areas of the larger markets. The total amount of sales has also decreased. The Canadian Real Estate Association (CREA) reported that sales were down 13.9% year over year in April and blames the new mortgage stress test that came … [Read more…]
Rate Announcement The Bank of Canada just announced recently that it is maintaining the Bank of Canada rate at 1.25%. This is the benchmark rate in which variable rate mortgages as well as consumer loans are priced against. The reasons given to keep the rate unchanged were due to a slower than expected growth in … [Read more…]
The Bank of Canada has increased their benchmark rate 3 times since July 2017! Today it sits at 1.25%. This rate usually has an effect on the Bank Prime rate which influences the rate lenders charge for mortgages and other consumer debt. The next Bank of Canada meeting is set for March 7th and there … [Read more…]
As we enter into the New Year, the Canadian property market continues to grow. From demographics to a healthy economic landscape, there are several factors that drive housing prices. While there have been many whispers from industry experts predicting a crash, thorough analysis reveals that the Canadian housing market remains strong. Additionally, thanks to rising … [Read more…]
Aside from marrying your life partner, a wedding offers several other benefits. For instance, coming together with your spouse can essentially double your earning power, lower costs, and create other financial advantages overnight. While marriage should not be pursued as a means to earn riches, long term commitment and a thorough understanding of your partner’s … [Read more…]
When it comes to mortgages, the process of determining how much you can afford and under what circumstances, is known as a stress test. In all areas of your professional and personal life, practicing risk management will better prepare you for any emergency situation that could result in more serious issues. For instance, if your … [Read more…]
Life happens. Sadly, when it does, you might find yourself falling behind on bills, becoming overwhelmed with expenses, and losing sleep crunching numbers in your head continuously. When your finances are in disarray, you might feel as though it is a hopeless situation. You might think that you will never get approved for a mortgage … [Read more…]
A mortgage is the only thing that stands between you and your dream home. If you are a first-time home buyer, getting a home loan can be a complicated process without the right help. Rather than borrowing directly through a lender or bank, take advantage of the services provided by a mortgage broker. Keep in … [Read more…]
Purchasing a real estate property can be one of the most important decisions that you make. As you look into the various mortgage options in the market, here is some useful information to help you receive the best mortgage rate. The Rate Debate Getting the best mortgage rate in Canada doesn’t stop at getting the … [Read more…]
The real estate market in Canada has been on a steady growth path and shows a lot of promise. If you want to invest in real estate for safe, steady, and increasing profits, you are in the right place. It is important, however, to know which are the best properties to invest in, and get … [Read more…]