Higher Rates And New Rules Cooling The Condo Market
After remaining at a record low for close to a decade, the Bank of Canada has started to raise its benchmark interest rate. A strong economy and positive job growth are some of the reasons behind the hike.
Finance: Getting Ready To Manage Your Money In Retirement
For anyone getting close to retirement the anticipation can be incredible. This is the time your focus shifts to enjoying life to its fullest, rather than how we are going to make enough to pay all the bills.
Finance: Easy Ways To Keep Summer Spending In Check
As we head closer to summer here are a few ways to keep that summer spending under control.
Finance: Rethinking Car Ownership
Longer term auto loans are a risk to Canada’s economy. That’s the finding of a recent Moody’s Investor Service report that says rising interest rates along with strong job growth is leading to more uninsured mortgages and longer term car loans. The report says these factors are putting a strain on the lending quality of…
Finance: Last Minute Tax Season Tips For Canadians
We’re in the middle of tax season and many Canadians are scrambling to get their paperwork together. The deadline to file your individual tax return is April 30th, 2018.
Report: New Mortgage Rules Keeping You From The Home Of Your Dreams?
The mortgage market has absorbed a significant amount of change over the past several years with the most recent update being introduced in January 2018. Among these changes is the requirement for federally regulated financial institutions to introduce a qualifying rate for applicants that can be 2 per cent higher than the rate being offered.…
Special Report: A Changing Market
Last year, we experienced many significant changes with regards to qualifying for a mortgage. In addition, the Bank of Canada increased their overnight rate twice in 2017 for the first time since 2008. What does this mean for first-time homebuyers? A more difficult process to qualify for a mortgage, less purchasing power and more compromise.
Finance: Common Money Mistakes We All Make
By nature, condo dwellers are frugal. They understand the economic benefit of living in closer quarters, of sharing the cost of utilities and amenities. As well they know a smaller place is financially easier to maintain then a big detached home, for example.
Finance: Three Ways Your Personal Finance Situation Will Change In 2018
There’s a great deal of uncertainty about how our finances will change in 2018. New mortgage rules that kicked in January 1st are threatening to further cool the real estate market, economists are expecting a jump in interest rates this year and investors are weary about how much longer the 10-year bull market can last.…
Finance: New Mortgage Rules Kick In January 2018
For the sixth time since the financial crisis in 2008 Canada’s top banking regulator is making it harder for Canadians to qualify for a mortgage. Starting in January 2018 Canadians applying for a new mortgage will be subject to a stricter set of rules to prove they can afford the loan.