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New Canadian Mortgage Rules Effective Oct 17th,2016

The Minister of Finance announced today new Canadian mortgage rules effective Oct 17th,2016.  The new rules will impact high ratio buyers with less than 20% down payment.  Other rule changes are expected to follow.  Stay tuned for details as they unfold. Currently a home buyer with less than 20% (high ratio) requires mortgage insurance throughRead More

Can Someone Steal Your House?

Can Someone Steal Your House?  Courtesy of Dominion Lending Centre head office thank you for the tips! It might sound unbelievable, but it’s absolutely possible for someone to steal your house. It’s called title fraud, and it’s a problem that has been around for a while in Canada. And although exposure to title fraud isRead More

Things to Consider When Buying in a New Development

With plenty of activity in the real estate market in the Greater Vancouver area and more new building slated over the next few years here is my list of “Things to Consider When Buying in a New Development” Representation Some buyers attend the display suite and consider a purchase directly with the developer sales personRead More

Changes to Property Purchase Transfer Taxes

Tony at Spagnuolo and Company recently shared some answers to the questions they have received from consumers regarding the recent changes to property purchase transfer taxes (PTT). Thanks for sharing, Tony!   How is the government going to monitor the 1 year occupancy detail? As with the First-time Home Buyers (FTHB) exemption, the Ministry willRead More

The Real Numbers for Changes to Down Payment Rules

After the announcement Dec 11th by Finance Minister Bill Morneau, many consumers were unclear about the real numbers for changes to down payment rules.  Specifically to the new minimum down payment requirement, which takes effect on February 15, 2016. The new rule applies to insured mortgages only – those where the borrower has less thanRead More

Smart Tips For Using Your Credit Card

Tis the season to be generous but beware of the temptation to overspend and overuse credit; some smart tips for using your credit card over the holiday season.  If you you plan to give your credit card a bit of a workout this Christmas consider a few tips and details which may save you someRead More

Holiday Spending Plan

Only a few weeks till Christmas and I know what you are thinking; I need a holiday spending plan.  If you are like most people you are thinking of time with family, friends and what gifts you are going to buy for everyone – so probably not. But really a holiday spending plan isn’t aRead More

Making a Real Estate Investment

With so much data on the Internet it can be a challenge to find housing market data when choosing a new place to call home or when making a real estate investment. There are many tools out there you can use to but the best source is usually a professional realtor who knows the particularRead More

New Credit Reporting and What It Says About You

New credit reporting and what it says about you and your spending habits  may make all the difference between your buying a home now or later. When home buyers contact me to apply for a mortgage I always review their credit report with them along with the rest of their application before they start lookingRead More

Mortgage and Housing Statistics

There is a lot of information out there on the Internet and sometimes too much so people avoid checking it out.  I have gathered some basic information about Mortgage and Housing Statistics to share which may be of interest.   Market statistics 7 percent of condos in Vancouver are empty 2.3% of condos are ownedRead More

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