Archive for: December 2015

Brokers Are First-Timer Magnets

Filed under: Mortgage - 22 Dec 2015

THINK OUTSIDE THE BOX:  Good advice can pay for itself 10-fold. Choose a mortgage expert, not a jack-of-all trades. If you want investing or insurance advice, get a separate referral.

More first-time buyers use brokers than any other mortgage channel, 55% of …

Four ways the Fed’s rate hike will affect our lives up north

Filed under: Mortgage - 17 Dec 2015

THINK OUTSIDE THE BOX:  Speaking earlier this week, Bank of Canada governor Stephen Poloz said that Canadian and American interest rate policies will continue to diverge as the gap widens between their relative economic performance. “We just want people to …

Estate planning: Give your money away now — save taxes

Filed under: Mortgage - 15 Dec 2015

THINK OUTSIDE THE BOX:  A Reverse Mortgage is another option that could be utilized to reach this goal.

When we think of estate planning, we often think of how we want to distribute our assets upon death, whether it is to a relative …

Breaking News: Finance Minister Announces Changes to Down Payment Requirements in Canada

Filed under: Mortgage - 15 Dec 2015

THINK OUTSIDE THE BOX: Beginning in February, insurers will require a 10% down payment on the portion of any mortgage over $500,000. The five per cent rule remains the same for the portion under $500,000. This means someone looking to buy a $750,000 …

Will you die with a mortgage? 10 reasons why more people will

Filed under: Mortgage - 07 Dec 2015

THINK OUTSIDE THE BOX:  Did you know Reverse Mortgages are NOT taxable?  In addition to the attractive available interest rates today on this product, they can help reduce the amount of income being taken out of investments which most likely …

Parents, co-ownership can help your kids enter the housing market

Filed under: Mortgage - 01 Dec 2015

THINK OUTSIDE THE BOX:  Co-ownership between parents and children is another route to help the younger generation own property, especially in North America’s high priced markets, and cases where mom and dad might want to keep grandchildren close.

To the …

Debt load has many Canadians ‘living on the edge,’ with high housing prices largely to blame: report

Filed under: Mortgage - 01 Dec 2015

THINK OUTSIDE THE BOX:  It’s the employment numbers that we need to watch more so than the consumer debt load.  Bottom line – there shouldn’t be a large increase to rates – they will raise variable rates slowly (when that time comes).

Canadians …