Pre-retirement Canadians no longer rushing to repay mortgage debt – Ask a Vancouver Mortgage Broker

DAVID ISRAELSON- Special to The Globe and Mail Looking forward to those sunset years when you can put your feet up and burn your mortgage? Peter Veselinovich notices that a lot of people are quietly putting away their matches. The traditional mortgage market, where younger Canadians scrimp and sacrifice in the expectation that they’ll be paid […]

Gen Y: Don’t believe the hype on home ownership – Ask a Vancouver Mortgage Broker

The housing boom of the past decade has given young adults a whole lot of debt and some pitiful gains in net worth. The twenty- and thirtysomethings of Generation Y who are entering the market today are in for worse treatment. A mindset for those who choose to buy a house: It’s about lifestyle, not […]

Get ready for house prices to continue to rise in Toronto- Ask a Vancouver Mortgage Broker

It’s only two weeks of data, but the Toronto Real Estate Board is reporting the first 14 days of February saw existing home prices continue to rise. Safe as houses? Canadians think their homes will fund their retirement Almost a quarter of Canadians say they are planning on using their home as their primary source […]

Canadian snowbirds’ dream of U.S. vacation home fading fast – Ask a Vancouver Mortgage Broker

The hundreds of thousands of Canadian snowbirds who flock to the United States are being hit by a falling loonie that should see their purchasing of U.S. winter homes start to slow, says a new report. Here’s what $500K buys in Canada’s housing markets: A lake in Edmonton … a condo in Toronto From four […]

Budget offers only a smattering of savings for Canadian families

ROB CARRICK -n The Globe and Mail Wait till next year, Canada. While there’s a lot of talk about easing the financial burden on families in the federal budget, the actual savings are at best minor. In fact, the most notable tax measure for the average person was one that will make cigarettes more expensive. People anticipating […]

Is using your RRSP to buy a house passé? – Ask a Vancouver Mortgage Broker

The $25,000 Ottawa allows you take out of your retirement fund to buy your first home sure doesn’t go as far as it used to. Under the home buyers’ plan, Canadians can take $25,000 out of their registered retirement savings plan and pay it back over the next 15 years without incurring any penalty. For […]

Five Canadian mortgage market predictions for 2014 – Consult with a Vancouver Mortgage Broker

ROBERT MCLISTER–  Special to The Globe and Mail 1. New mortgage rules Expect more rule tightening in 2014 designed to reduce mortgage risk for lenders, mortgage default insurers and the government. By definition, those rules will make it slightly harder to get approved for some mortgages and further slow the housing market. 2. Credit unions will steal […]

How factory-built homes are shedding their ‘cheap’ label and exploding in popularity

After more than three decades in her Toronto bungalow amid growing mildew problems in the 1940s-era home, Ruth Wiens decided it was to start fresh. Here we go again with dropping mortgage rates Falling bonds yields could push mortgage rates lower as banks compete in the spring housing market, the strongest real estate period of […]

Canadians saving more, but are they making the most of their savings? – Ask a Vancouver Mortgage Broker

Recent data indicate that Canadians are saving more. Statistics Canada reports that the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in Tax-Free Savings Accounts (TFSAs), a 23% increase from 2012. It’s good that […]

Not the Time for a 10-year Fixed – Consult with a Vancouver Mortgage Broker

OK let’s rephrase that. It’s not the time for a 10-year fixed for well over 90% of Canadianmortgagors. There was a time last year when thespread between 10-year and 5-year fixed rates was below 3/4 of a percentage point. That made even the 10-year scoffers among us rethink our positions. But spreads are now back over […]

« Previous Page — Next Page »