More self-employed hitting mortgage wall because of recent rule changes

For years, most of Marg Green’s self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan. These days, because of rules brought in almost two years ago by the regulator of the country’s chartered […]

What bubble? Canadians have their mortgage covered, study shows – Consult with a Vancouver Mortgage Broker

A new Conference Board of Canada study says there’s no housing bubble about to burst and maintains Canadian are having no trouble handling their debt even as it sits close to record levels. ‘Every man for himself’: Homebuyers’ top 5 bidding war stories One in three Canadians are willing to enter into a bidding war […]

Canadian homeowners don’t expect to be mortgage-free until they’re 57: CIBC – Ask a Vancouver Mortgage Broker

TORONTO – The average Canadian homeowner doesn’t think they’ll be mortgage-free until they’re 57 – two years longer than what they expected last year, a survey by CIBC suggests. The survey also found that half of those surveyed said other debt, from credit cards to lines of credit, have increased and impeded their ability to […]

Paying down debt Canadians’ main focus in 2013: poll

Canadians appear less concerned about retirement planning than in years past as they continue to focus on debt reduction as their main financial priority, according to a new study released Wednesday by CIBC. Over all, the poll done for the bank by Harris/Decima showed 17 per cent of respondents selected debt reduction as their main […]

CIBC Poll: New Year, Same Plan – Pay Down Debt

  CIBC Poll: New Year, Same Plan – Pay Down Debt Paying Down Debt once again tops the list of financial priorities for Canadians entering 2013, while Retirement Planning declines in importance TORONTO, Jan. 2, 2013 /CNW/ – Canadians have named paying down debt as their top financial priority entering 2013 – the third year in a row that debt has topped the […]

Are we worrying ourselves into a housing crash? – Ask a Vancouver Mortgage Broker

Maybe this is telling us you shouldn’t buy the biggest houseJust sit back and do nothing. It doesn’t sound like the most proactive advice when it comes to the housing market, but it might just be what everybody needs to hear. Panic is the worst thing that could happen because when that mentality sets in […]

The perils of home buying without a rainy-day fund

Few people would walk even a 10-foot-high tightrope without a net. Even with a reward, the fall wouldn’t be worth it if something went wrong. Yet people who buy homes without access to emergency funds are walking a figurative tightrope every day. When you get a mortgage with no savings, the unforeseen is your enemy. […]

Why CIBC’s Mortgage Growth Has Stalled

The Financial Post ran astory this week suggesting that CIBC is retreating from consumer lending due to risk concerns. That was likely a stretch. The article was based primarily on one data point, percentage change in mortgage and household lending. Since CIBC has near-0% volume growth in the first five months of 2012—whereas the other Big 6 banks […]

IRD Penalties on FirstLine Vancouver Home Mortgages

IRD Penalties on FirstLine Vancouver Home Mortgages The following information may be helpful for individuals holding Vancouver home mortgages through FirstLine. FirstLine Mortgages is a subsidiary of CIBC which stopped accepting mortgage applications as of July 31, 2012. According to CIBC, parties who currently have mortgages with FirstLine will not be affected by this change. […]

45% of Canadians unprepared for emergency spending

CTVNews.ca Staff Published Monday, Aug. 13, 2012 8:15AM EDT Last Updated Monday, Aug. 13, 2012 5:31PM EDT A new poll for one of Canada‘s biggest banks reveals many Canadians don’t have a reserve fund set aside to cover unexpected emergency expenses. According to the poll conducted for CIBC, 45 per cent of Canadians have no […]

« Previous Page — Next Page »