Archive for: November 2016

What you need to know about the principal residence tax exemption

Filed under: Mortgage - 28 Nov 2016

THINK OUTSIDE THE BOX:  There are instances when taxes may be applicable when you sell your primary residence.

When …

How do you know if a recreational property is a good investment?

Filed under: Mortgage - 25 Nov 2016

THINK OUTSIDE THE BOX:  Are you purchasing a cottage or second home in 2017 but want a solid investment as well?

The dream of home ownership doesn’t stop with your primary residence; many Canadians dream of owning a recreational property as …

Low down payments might be introducing more risk – CMHC

Filed under: Mortgage - 23 Nov 2016

THINK OUTSIDE THE BOX:  If you are planning on a 5% down payment for your purchase, you may want to consider acting sooner than later with this latest report recommending an increase to down payment requirements from CMHC.

The top official …

TD Bank joins Royal Bank of Canada in increasing fixed mortgage rates

Filed under: Mortgage - 17 Nov 2016

THINK OUTSIDE THE BOX:  As of Thursday, RBC’s special offers for a four-year fixed rate mortgage will rise by 30 basis points to 2.79 per cent. A five-year fixed mortgage rate will be 2.94 per cent, an increase of 30 …

Canadians continue to pile up non-mortgage debt: report

Filed under: Mortgage - 11 Nov 2016

THINK OUTSIDE THE BOX:  Refinance to payout your $21K non-mortgage debt at today’s historic low rates because rates could be going up very soon!

Canadians continued to pile up non-mortgage debt compared with a year ago but delinquency rates remained low, according …

First of many changes to come?

Filed under: Mortgage - 07 Nov 2016

THINK OUTSIDE THE BOX:  Most lenders mortgage prime rate is currently 2.70% – Will other banks follow suit to TD’s recent increase to its mortgage prime rate to 2.85%?

Don’t blame TD for being the first to act, argues one veteran, …