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.
Finance: How To Help Millennials Buy Their First Condo
Millennials are so financially strapped that many can’t find the funds to move out of their parents’ home. These are the findings of a new report by the University of Waterloo called Gen Y at home. It finds 47.4 per cent of millennials (also known as Gen Y) in the GTA live with their parents.
Finance: The Pantry Challenge
The Pantry Challenge is what every condo owner needs to do now. One of the bonuses of living in a condo is having a smaller space to manage.
Finance: Condo Is The New Starter Home
With home prices up significantly many couples with kids are now looking towards condominium living as a more convenient and economical option.
Finance - Common Money Dilemmas: How To Solve Them
Some money problems are easy to solve. Like, if you’re carrying a balance on your credit card, you should aim to get rid of it. But sometimes the answer isn’t as clear and we’re faced with a money dilemma.
Finance: What To Do With Your Tax Return?
By this time many of you have done your tax return for 2016. If you made significant contributions to your Registered Retirement Savings Plan (RRSP) you may be looking at a large sum of money being returned from the Canada Revenue Agency (CRA).