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Monday, February 13th, 2017

Bank on Hold As Housing Expected to Continue to Slow

Bank on Hold As Housing Expected to Continue to Slow It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack despite strong employment growth and inflation remains below the 2 percent target. The policy […]

Is it time to downsize your home, sweet home?

The Globe and Mail Downsize Your Home Worksheet is designed to help people think through some of the financial considerations involved in selling the family home and moving to something smaller. Sure, there are lifestyle factors in deciding when to sell. But there’s also the state of the real estate market to consider. Should you […]

Can you afford a home in these cities? – Ask a Vancouver Mortgage Broker

Housing affordability is a national disaster that begs further investigation. The average national resale home price in May: $416,584. The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363. The estimated median family employment income: $68,692. In that $20,671 shortfall is the considerably, but not […]

Can this young Toronto family really afford a house? – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail I really want to tell this couple it’s okay to buy a house. Let’s call them Grace and Jim, both 35 years old. They live at Jim’s parents’ place in Toronto with two kids, aged 2 and five months, and they have differing views on buying a home. Jim, a […]

How badly would you be hurt in a housing market price correction? – Consult with a Vancouver Mortgage Broker

How badly would you be hurt in a housing market price correction? ROB CARRICK– The Globe and Mail A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t […]

Five mortgage market truths, like you can do better than 2.99% – Ask a Vancouver Mortgage Broker

ROB CARRICK- THE GLOBE AND MAIL Here are five things you need to know about the mortgage market as the spring home-buying season gets going: 1. That 2.99 per cent Bank of Montreal five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3-per-cent mark for […]

Home buyers squeezed out of market must save more – or settle for less – Consult with a Vancouver Mortgage Broker

DAVID ISRAELSON- Special to The Globe and Mail When the Occupy movement hit the headlines in 2011, we heard about the 99 per cent, but when it comes to getting a mortgage there’s another group in Canada – the 9 per cent. These are the nearly one in 10 prospective home buyers who as recently as […]

Can you really afford that mortgage? Know your Real Life Ratio – consult with a vancouver mortgage Broker

Someone ought to explain the facts of life to the nation’s bankers. They’re handing out mortgages to people without any apparent understanding that today’s home-buying couple is tomorrow’s family of three or four. A lot happens to one’s ability to afford mortgage payments when kids come along, but you’d never know it by the way […]

What you need to know before, and after, buying a condo- ask a Vancouver Mortgage Broker

What you need to know before, and after, buying a condo ROB CARRICK.  –  The Globe and Mail    Your life as a homeowner will likely include some time in a condo. Condos suit young adults, and retirees who want to downsize. As houses rise in price, more people in between those extremes may opt […]

Three pitfalls to consider before helping your kids buy a home – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail In an increasingly unaffordable housing market, it’s natural for parents to want to help their kids buy a home. Talk to a real estate agent or mortgage broker and you’re bound to hear stories about parental financial help. “The bottom line is that when a first-time home buyer buys a […]

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