Archive for: September 2017

These are the homeownership costs Canadians forget about

Filed under: Mortgage - 29 Sep 2017

THINK OUTSIDE THE BOX: A home is the most expensive thing most of us will ever buy. But the true cost of homeownership is even steeper than many of us realize, according to a new survey commissioned by Intact Insurance.

About …

Canada’s ‘borrowing binge’ has put economy in precarious position, report warns

Filed under: Mortgage - 27 Sep 2017

THINK OUTSIDE THE BOX: Moody’s Analytics paints an ugly picture of what could happen to the Canadian economy if everything goes wrong in the housing market.

Moody’s Analytics calls it “mortgage meltdown math”, but the subsidiary of the ratings agency paints …

How parents can keep down payment gifts safe when couples split

Filed under: Mortgage - 27 Sep 2017

THINK OUTSIDE THE BOX: We have seen an increase in down payment gift from parent to help their children purchase a home. Given that about four in 10 marriages end in divorce, according to Statistics Canada, more families are looking to …

The ballyhooed ‘war on homebuyers’ isn’t real

Filed under: Mortgage - 26 Sep 2017

THINK OUTSIDE THE BOX:  Regulators have finally realized that Canada is addicted to debt, and are trying to limit the fallout. This is not a bad thing.

Canada’s real estate market has seen a lot of changes over the past year or so. Interest …

What is the “Best” Mortgage Rate?

Filed under: Mortgage - 22 Sep 2017

THINK OUTSIDE THE BOX: Six in ten mortgage consumers choose brokers, in large part because they think brokers will get them the best rate.

All too many of those people associate the “best” rate with the “lowest” rate. Mortgage professionals know that’s not …

What you need to know about the Equifax data breach

Filed under: Mortgage - 19 Sep 2017

THINK OUTSIDE THE BOX : Equifax, one of the three main credit reporting companies, said this week that a major data breach exposed Social Security numbers and other important information of millions of people.

The breach affected about 143 million in …

What the latest Bank of Canada interest rate hike means for you

Filed under: Mortgage - 07 Sep 2017

THINK OUTSIDE THE BOX: The Bank of Canada’s increase to its key interest rate Wednesday, the second bump since July, will start putting a more noticeable squeeze on consumers holding variable rate mortgages, lines of credit or any consumer debt …

What is a private mortgage and when does it make sense?

Filed under: Mortgage - 05 Sep 2017

THINK OUTSIDE THE BOX: For those having trouble qualifying for a traditional mortgage, other solutions are still available, one of which is a private mortgage.

And with increasingly stricter mortgage regulations and qualification requirements being introduced by the government, they’re growing …