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Tuesday, July 5th, 2022

Here’s Why Mortgage Credit Growth In Canada Has Been Slowing

The latest reading from Statistics Canada shows that Canadian household indebtedness increased in the second quarter, with the ratio of household credit market debt to disposable income rising from 163.1 to 163.6 percent. This increase was primarily attributable to weak income gains over the course of the quarter, as mortgage debt – which makes up […]

Paying off your mortgage faster can pay huge dividends

Paying down your mortgage faster. It’s one of those boilerplate suggestions that financial advisers love to make to their clients. After all, throwing extra money at the biggest debt most Canadians have can result in big interest savings and being mortgage-free years sooner. So why isn’t everyone doing that? According to a spring analysis by […]

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 […]

Canada building permits spike 13.8% in May – Ask a Vancouver Mortgage Broker

OTTAWA — Statistics Canada says municipalities issued building permits worth $6.9 billion in May, up 13.8% from April. The agency says the increase in May resulted primarily from higher construction intentions for commercial buildings in Ontario and Manitoba, as well as multi-family dwellings in British Columbia. It says the total value of permits has been […]

Canadian home prices rise a modest 0.8% in May, typically one of the strongest months for sales: Consult with a Vancouver Mortgage Broker

TORONTO — Canadian home prices rose in May but the pace of 12-month home price appreciation decelerated slightly, the Teranet-National Bank Composite House Price Index showed on Thursday. Why Canada’s housing boom could be in for a big echo A new report suggests housing market has stronger legs than thought because echo boomers, who now […]

Aging workers aren’t giving up on finding work, they’re simply retiring: RBC – Consult with a Vancouver Mortgage Broker

Aging workers aren’t giving up on finding work, they’re simply retiring: RBC New study shows that the 6.9 per cent unemployment rate is likely not hiding people who have given up on finding work but indicates baby boomers 65 and older are leaving the workforce OTTAWA—A new Royal Bank analysis suggests the Canada’s labour market […]

Record home building in Canada drives spike in building permits – ask a Vancouver mortgage broker

Record Canadian housing construction led a faster-than-expected gain in building permits in January, government data showed one day after the central bank predicted a soft landing in the country’s real estate market. North America’s top 20 housing markets: Vancouver, Toronto, Calgary among most expensive Is Canada’s market overheated? Here’s a look at the prices in […]

Work longer but work smarter – Consult with a Vancouver Mortgage Broker

For most of us, the concept of retiring at 55 is dead. It is dead because many would struggle to finance a retirement that will last 30 plus years, but also dead because many people are realizing that they don’t actually want to be retired for 30 years. Since 1975, the average number of years […]

Survey focuses on two generations of buyers – Ask a Vancouver Mortgage Broker

By Jean Sorensen The millennials (known also as the children of baby boomers born between 1972-1992) and the post Second World War baby boomers (born 1946-1965) are making the greatest impact on the real estate industry today. “Both the boomers and the millennials want move-in ready homes,” says Century 21 Real Estate Canada president Don […]

How to determine if you are ‘house poor’ – Ask a Vancouver Mortgage Broker

How to determine if you are ‘house poor’ By Gail Johnson | Pay Day    About a quarter of Canadians spend too much on housing costs, Statistics Canada says. How can you tell if you’re house poor, aside from the fact that your bank account is hemorrhaging funds? To answer that question, dig deep, and we’re talking in your […]

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