Is Western Canadian Real Estate Becoming Unaffordable?

This article points out the well known fact real estate prices in Western Canada over the past decade have stretched consumers. Will prices come down with new mortgage rules and a slowing economy? Three of the four most expensive Canadian cities in which to buy a home are in the West. Vancouver leads the way, […]

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Bank of Canada Mark Carney held rates steady Tuesday.

OTTAWA — The Bank of Canada acknowledged Tuesday that the weakening global economy is slowing growth in this country more than previously thought, but it still expects moderate growth. To no one’s surprise, the central bank held its key interest rate at a near-historic low of 1%, where it has been since September 2010. What […]

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Softening House Prices: Silver Linings or Dark Clouds

An interesting perspective on what may be coming… As housing market data begins to show that prices may be trending a little lower – or at least flat – in some areas in Canada, the debate about the relative benefits or detriments of this new reality has begun in earnest. With new mortgage rules also […]

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New Mortgage Rules – What do they really mean…

The new mortgage rules effective July 9th will have an impact on some buyers and those who need to refinance their home. This is the governments way of getting us to control spending with respect to home ownership – which is a good thing. However, be careful when reading everything on the Internet, the news […]

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New Mortgage Rules – how will they affect investors?

Every time the mortgage rules change we read information on the Internet and in the media. I receive calls from people asking me specifically how the rules will impact them and I encourage everyone to contact their mortgage planner (my phone and email are always on). Unfortunately the media do not always make it clear […]

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Government to lower amortization, LTV on refis … again

By Vernon Clement Jones | 20/06/2012 7:10:00 PM | 11 comments The reprieve Canadian brokers thought they had is no longer, with the Finance head confirming he will now lower the maximum amortization on an insured mortgage to 25 years and cap refinances at 80 per cent of a home’s value. But there’s more, Jim […]

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Canada’s Debt Situation

It’s official, Canadians are still piling on debt, just at a slower rate. The latest numbers from Statistics Canada put the debt-to-disposable-income ratio at 152% as of the end of the first quarter this year. That’s up from 150.5% in the last quarter of 2011. However, borrowing growth actually slowed in Q1 to 0.9%. The […]

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Canada – slowest sales growth in May 2012

Canada suffered its slowest sales growth in May, thanks in large part to good old T.O., according to new Realtor data. The number of homes sold in Toronto rose 11 percent, which was down from an increase of 18 percent in April. Price growth also slowed, with the average sales gain coming in at 6.5 […]

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Good news for homeowners and investors for re-qualifying

It’s good news for homeowners, and, indeed, investors, with the federal banking regulator now clarifying its position on re-qualifying borrowers at renewal — effectively maintaining the status quo. “The following provides a brief description of OSFI’s decisions on key issues, which will be reflected in the final Guideline,” writes the regulator in a letter sent […]

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