Canada Mortgage

New Mortgage Rules Keep Canadians Safe From Housing Crash

YPNextHome | Posted 10.05.2016 | Canada Business

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.

Vancouver School Closures Stick Families With Impossible Choice

Atrina Kouroshnia | Posted 09.28.2016 | Canada British Columbia
Atrina Kouroshnia

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.

How To Know Renovating Your Home Is A Better Option Than Moving

Posted 09.19.2016 | Canada Living

Is it better to sell or should your renovate? The answers here. From the AOL Partner Studio

What You Should Know About Buying Condos For Profit

Dan S. Barnabic | Posted 08.31.2016 | Canada Business
Dan S. Barnabic

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.

Some Seriously Unconventional Ways To Afford Real Estate

YPNextHome | Posted 07.11.2016 | Canada Living

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.

Mortgage Insurance Is Not The Best Way To Protect Your Investment

Josh Miszk | Posted 07.05.2016 | Canada Business
Josh Miszk

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?

How To Shave Years Off Your Mortgage

CP | Craig Wong, The Canadian Press | Posted 06.23.2016 | Canada Business

There are a number of methods to shorten your mortgage, but you'll have to read the fine print.

Introducing Micro Units: The Future Of Vancouver Real Estate

Atrina Kouroshnia | Posted 06.10.2016 | Canada British Columbia
Atrina Kouroshnia

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.

Five Things To Know About Canada's New Mortgage Rules

CP | Posted 12.11.2015 | Canada Business

People in Vancouver, Toronto could feel the brunt of the new rules

5 Ways to Become Debt Free In 10 Years

David Lester | Posted 09.10.2016 | Canada Business
David Lester

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.

What Millennials Should Know About Securing a Mortgage

The Reply | Posted 05.12.2015 | Canada Living
The Reply

The mortgage process is a daunting one, especially for first-time homebuyers. Here are some important facts you need to know about mortgages. This ...

Just Because You Can Get a Big Mortgage Doesn't Mean You Should

Douglas Hoyes | Posted 11.14.2014 | Canada Business
Douglas Hoyes

If you can't afford the monthly mortgage payment (and property taxes, and repairs and maintenance) your mortgage is too big. The "equity" answer is that if you have less than 10 per cent equity in your house, you are at higher risk of financial problems.

How To Shave 5 Years off Your Mortgage

Atrina Kouroshnia | Posted 10.12.2014 | Canada British Columbia
Atrina Kouroshnia

Paying off a mortgage is especially important for anyone with a higher interest rate, or those who really value mortgage freedom.

Should You Buy A B.C. Condo Without A Depreciation Report?

Atrina Kouroshnia | Posted 09.24.2014 | Canada British Columbia
Atrina Kouroshnia

Last December a new B.C. government directive went into effect, requiring condo buildings to prepare a depreciation report that gives prospective buyers details about expected long-term expenses or problems. Despite the new rule, only about one quarter of the stratas across the province have commissioned depreciation reports so far.

Time To Quit The Cult Of Home Ownership?

CBC | Posted 04.04.2014 | Canada Business

If Canadians have a preoccupation these days, apart from the winter weather, it seems to be real estate. Specifically: the ever-rising prices in most ...

So Your Home Is in Foreclosure - What Now?

Joaquin Benitez | Posted 10.07.2013 | Canada Living
Joaquin Benitez

If you find yourself in a foreclosure situation, emotions will overtake you, so it's critical that you deal with them in order to keep a clear head and survive the trauma. You are well able to defend your home from foreclosure, but first you must take control of your emotions. And you will survive!

Give Me Liberty, or Give Me Debt

Douglas Hoyes | Posted 09.02.2013 | Canada
Douglas Hoyes

Conventional wisdom says that debt used to purchase something of lasting value, like an investment, or a house, or a car, is good debt, because you benefit from the purchase. An example of bad debt would be borrowing to go on vacation, because when the vacation is over you have nothing to show for it. In some cases both of these examples are true.

Absurd Vancouver Property: Vancouver vs. Quebec

Melissa Carr | Posted 07.07.2013 | Canada British Columbia
Melissa Carr

Farther and farther across the country we go...bonjour, Quebec! What a million dollars will buy you there, compared to Vancouver.

On the Mortgage Debate, Mulcair KO'd Flaherty

Michel Kelly-Gagnon | Posted 03.21.2013 | Canada Business
Michel Kelly-Gagnon

The federal minister of Finances, Mr. Jim Flaherty, made public comments and exerted pressures for Manulife Bank to withdraw its offer for a five-year-fixed mortgage rate of 2.89 per cent. NPD leader Thomas Mulcair accused Mr. Flaherty of using his position of power inappropriately. I couldn't have said it better myself.

Is the Financial Strain of Homeownership Worth it?

Yoni Goldstein | Posted 12.26.2012 | Canada Business
Yoni Goldstein

Buying a home marks the true end of youthhood. You're ready to put down roots now, to establish yourself, to mark your territory. But have you seen what a modest house in a barely decent neighbourhood anywhere even remotely near a metropolitan area costs these days? There is no way you have anywhere near that much money, which means you have to borrow a lot, from the bank. I'm not here to excuse homebuyers who have trouble paying their mortgages, but I think I can at least explain their thinking. The point is that while buying a house is quite clearly a momentous financial exercise, it is very much an emotional one, too.

Home Buyers Panic Ahead Of Mortgage Rules Change

CBC | Posted 09.06.2012 | Canada Business

The clock is ticking on Canada's mortgage rules. Come Monday, insured 30-year amortizations will be a thing of the past, and the shift mea...

Tighter Mortgage Rules Come To Canada

CP | Julian Beltrame, The Canadian Press | Posted 08.20.2012 | Canada Business

OTTAWA - Buying a first home or taking out a loan against an existing residence will be more difficult for Canadians under new rules announced Thursda...

Ask a Realtor: Should I Just Rent in This Market?

Susanne Hudson | Posted 08.07.2012 | Canada Business
Susanne Hudson

Renting is always an option but the allure of owning your own home is hard to beat! And over the long run owning a home that is appreciating in value is a good investment. Where else can you enjoy the comfort of an investment and pay no capital gains when you cash out?

'Alternative' Lenders Behind Canada's Growing Mortgage Mess

CBC | Posted 06.16.2012 | Canada Business

As the big banks get choosier about who they'll lend money to in this hot housing market, people with questionable credit are benefiting from Canada's...

Daniel Tencer

Are Canada’s Banks Losing Track Of Basic Lending Practices? | Daniel Tencer | Posted 03.19.2012 | Canada Business

Check yourself before you wreck yourself. That’s the not-so-subtle subtext of a message from a federal financial regulator to Canada’s banks. T...