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 […]

Despite Challenges, Canada’s Generation Y Still Plan to Own Homes, According to Royal LePage National Survey

New mortgage regulations and current home prices seen as obstacles by Generation Y TORONTO, ON, March 20, 2013 – Although there are genuine hurdles to owning a home for Canadians, a new Royal LePage Real Estate survey shows that Generation Y (born between 1980 and 1994) and Baby Boomers (born between 1947 and 1966) still strongly desire […]

15 Years to Go

That’s the average time remaining before the typical mortgage holder will be free and clear, according to a BMO survey released today. In addition, only 12% of Canadians have greater than 25 years left until their mortgage is repaid. (Not surprisingly, a disproportionate number live in B.C. where prices are 38% above the national average.) […]

The ‘thrill’ of buying a house

William Hanley, Financial Post · Apr. 21, 2011 You walk into the open house, take one look and say to yourself: This is it. It’s the house I have to live in. Where do I pay? A bidding war? I’m in. Over my years of buying houses, I never bought one that did not have […]