Couple in 50s dreams of a holiday home in the sun – Consult with a Vancouver Mortgage Broker

Lana and Zack’s story is an increasingly familiar one: people in their 50s with well paid but stressful jobs who can barely wait to leave the work force. He is 51, she is 50. They own their house outright and have no debt. “We are eagerly working toward what we hope will be early retirement,” […]

Consider a trust fund for your kids even if you’re not rich – Consult with a Vancouver Mortgage Broker

Some people are lucky enough to be born to well-connected families with vast fortunes, leaving those of us who rely on our wits and hard labour with rigid attitudes about the type of kids who benefit from trust funds. Lately, the practice of leaving large inheritances may be increasingly falling out of favour – at […]

Money-losing rental and layoff put retirement at risk for couple in their 50s

Situation: Layoff and inability to find a new job plus a money-losing rental property jeopardize couple’s retirement Strategy: Either get a new job to subsidize the rental or sell it to balance budget. Tidy up cluttered investment portfolio to reduce fees and duplicaton At their ages of 55 and 51, Dan and Martha, have hit a series […]

Condo choices not always an apples to apples comparison

Will an apple a day keep the condo investor in play? A Toronto developer trying to bring the concept of urban growing to Calgary thinks an apple orchard in the middle of two towers might be the next amenity condo buyers appreciate. “I don’t think people will buy a condo to be next to an […]

Canada’s most expensive housing market not headed for crash, says credit agency DBRS

A leading credit rating agency says Canada’s most expensive housing market may not be all that affordable for the average family, but despite that no major correction is coming Vancouver’s way. DBRS looked at 39 markets in Canada, the United States and Australia, releasing its focus feature on Vancouver Wednesday. “Based on historical data, the […]

How a homebuyers’ ‘bellwether’ is buoying optimism in Canada’s housing market

Genworth MI Canada Inc. and Home Capital Group Inc. reported profits that beat analysts’ estimates as low interest rates drive demand for Canadian homes. More than half of Canadians in a new survey are putting extra effort into repaying their mortgages — saving tens of thousands in interest payments. Find out more Genworth, the country’s […]

Not so fast kids, you may not get the family cottage – ask a Vancouver mortgage broker

Children hoping to inherit the family cottage may be in for a surprise, says a British Columbia financial institution. BlueShore Financial surveyed 498 of its clients between July 7 and 14 and found among those who own cottages 61% don’t plan on passing the property on to their children. Chris Catliff, the president and chief […]

Canadians expect to be mortgage-free later than previously thought

A new survey says Canadians, on average, expect to be mortgage-free by age 58, one year later than in a similar poll a year ago. But the survey, conducted for CIBC by Angus Reid, found some big discrepancies across the country. For example, homeowners in British Columbia thought they wouldn’t be able to pay off […]

Nine ways to power-save your way to a down payment- ask a Vancouver mortgage broker

The question that comes up more and more in the country’s expensive housing markets is: Where are first-time buyers getting the money? Parental help is a big factor, so much so that the federal agency Canada Mortgage and Housing Corp. has launched a study of the phenomenon. Also, it’s virtually a given that today’s buyers […]

Freedom 58? How Canadians are shaving thousands off the cost of their mortgage

TORONTO — A new survey says Canadians, on average, expect to be mortgage-free by age 58, one year later than in a similar poll a year ago. How this man plans to be mortgage free by age 31 This 29-year-old pension analyst is $130,000 away from paying off his $425,000 home in Toronto, without money […]

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