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 will […]

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 than […]

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 some […]

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 a […]

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 particular […]

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 looking […]

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 owned […]

I am often asked by clients about the real value of title insurance, why they need to have and pay for it.  Whether you are a home buyer or a home owner simply refinancing the mortgage on your home you will need title insurance.  Once I explain the reason and need for title insurance the […]

So how does a drop in the prime lending rate effect you? Since the two rate drops to the prime lending rate in January and July 2015 I have had many calls about what the change means and what to do next. Any changes to your variable rate mortgage will happen only if the Bank […]

Mortgage insurance provided by CMHC, Genworth and Canada Guaranty will increase for homebuyers with less than a 10% down payment. The mortgage insurance fees rise June 1, 2015,  by approximately 15%. For the average Canadian homebuyer who has less than a 10% down payment, the higher premium will result in an increase of approximately $5 to […]