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One way to get around the hefty cost of real estate is co-homeownership, where two or more parties join forces to carry the costs of a home.
The average Canadian mortgage is now almost $200,000, up 5 per cent in a year.
Choosing the right mortgage professional can save you time and money.
That nice house that you saw and qualify for today may be out of reach when – not if, but when – interest rates go up.
It's time to admit what we don't know and create a real strategy to help Canadians manage our money.
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The average mortgage payment for new loans jumped 4.6 per cent in the past year.
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The home renovation business is booming. In Canada alone, construction trends have been hedging towards fixer-uppers instead of breaking new ground. But while many of us are looking forward to those n...
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Banking can be stressful for those of us who aren't financially savvy. But tackling your banking head-on allows you to simplify your life and reduce your overall stress.
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For many Canadians, their monthly mortgage payment is their largest expense. And so, when it comes time to renew your mortgage there are many things to consider. First, you need to establish the steps...
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Finding a great mortgage rate can help make the dream of real estate ownership a reality, but it's not the only important thing to consider when financing a home. From what payment plan would best sui...
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Applying for a mortgage will be one of the most important financial decisions you'll have to make in your life, so you need to make sure you're well-versed and ready for the responsibilities associated with getting a loan.
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The dream of owning a home typically isn’t possible without having a mortgage. But staying informed, understanding all your options, and developing a sound strategy for paying off your mortgage is eas...
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Now that Donald Trump has been sworn in as the 45th president of the United States, should we prepare for an onslaught of Americans moving north and buying Canadian homes? Don't bank on it. Americans cannot just pick up and move here because they don't like their new president.
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As we start a new year, we have yet another new poll about how Canadians are once again listing paying down debt as their top financial priority for 2017. This survey, from the CIBC, says that for the seventh straight year concerns about debt were a top concern for most Canadians.
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The objective of that policy is to reduce mortgage lending. It means that a potential home buyer who can comfortably afford the costs of buying a home (based on their actual mortgage interest rate, which will usually be less than three per cent) might not be able to get financing, because of a new, very high "stress-test" hurdle (using an interest rate that is currently 4.64 per cent, and far above actual market rates).
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The Royal Bank of Canada is also increasing its rates.
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Don't say the banks didn't warn you.
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Under the new mortgage rules, which take effect on Oct. 17, all new insured mortgages must qualify for the amount at a rate of 4.64 per cent, which is an average of the big banks' current posted mortgage rates. This is the case even if the rate offered by your lender is lower.
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As many as 21 in total have the potential to be shut down. If residents of the east side are forced to move into more expensive neighbourhoods just in order to find a school for their children, homeowners may be forced to turn into renters as they arrive outside the comfort zone of their financial capabilities.
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Is it better to sell or should your renovate? The answers here. From the AOL Partner Studio
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Today, the ever-changing urban demographics and hot real estate markets occasionally lend people the opportunity to invest in a condominium with the intention of selling it for profit. This practice is also known as speculating. Many ordinary people become speculators during periods characterized by strong demand.
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With the average price of a detached home out of most first-time buyers' reach, those with less than $1 million to spend have a few options. A lot of people are becoming creative with their buying power and choosing to utilize more unusual or unconventional options to solve the issue of affordability.
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Having adequate insurance coverage to protect you and your family in the event that you can't pay your mortgage is a great idea. But is mortgage insurance the right type to buy?
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There are a number of methods to shorten your mortgage, but you'll have to read the fine print.
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Are micro units, small condos and bachelor suites the way of the future; able to douse our city's precariously overheated housing market in a cool shower of affordable, convenient rental units? It seems the question is still up for debate here in the third least affordable housing market on the globe.
Buying a home can be an overwhelming experience. From figuring out your budget to deciding what neighborhood works best for you and your family, the considerations are endless.
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People in Vancouver, Toronto could feel the brunt of the new rules
Since debt became super cheap after the Great Recession, we all have taken on a ton of of it. Nationally we have an average of $27,000 in non-mortgage debt -- and $190,000 in mortgage debt. Here is how we all can get rid of our debt in 10 years so we can enjoy our retirements and our lives debt-free.
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TORONTO — Some of Canada's biggest banks are defending their verification practices for mortgage applications in light of recent news that mortgage lender Home Capital Group Inc. cut ties with dozens...
Kat Armstrong is not ready to hunt for a new rental home. She and her husband Matthew moved their family into their current Toronto apartment less than two years ago. Plus, she recently gave birth to...
TORONTO - At first glance, the mid-century, three-level Winnipeg home was everything that Sarah Fehr and her fiancee had been looking for.It was located in the right neighbourhood, had a double garage...
TORONTO - A survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many would be in trouble if their monthly payments grew...