Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Will you make money on your rental property? + MORE Sep 8th
After a strong rise in real estate prices in 2021 and in early 2022, many markets are now seeing weakening home prices. Current rental property owners, as well as new potential investors looking to buy, may be wondering how to determine if a rental property is a good strategy for them.
If you are.... More »
Part 1: Beating the Math: Why Politicians Are Failing Homebuyers and What you can do. Apr 21st
If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the .... More »
The Latest in Mortgage News: Ontario Teachers’ Pension Plan to Buy HomeEquity Bank Sep 26th
The Ontario Teachers' Pension Plan Board has taken a major investment stake in Canada's rapidly growing reverse mortgage market with its acquisition of HomeEquity Bank..... More »
Is this frugal Toronto artist’s $70,000 in savings enough for her to buy a property in the U.S.? Jul 3rd
If Joy were to buy a house in the U.S., writes financial expert Jason Heath, it’s probably best she get a pre-approved a mortgage before house hunting..... More »
How much credit card debt does the average Canadian have? + MORE Sep 23rd
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
Q. I’m a 23-year-old who just graduated with a Masters degree and I have $30,000 in student debt ($20,000 provincial, $10,000 federal). I also just got a job with an annual salary of roughly $60,000. My question is what is the best way to invest my money (index mutual fund, stocks, online Robo-advisor) so that I can still pay off my loan but also save for the future (i.e. buying a house/condo, getting married, etc.). Thank you!
—Jake
A. Jake, first, I’d like to offer congratulations. Kudos for wanting to reach for these goals and milestones, especially since you are quite young, have just begun your career and are still several years away from big mortgage payments and retirement.
One key thing to note is whether you are living with your parents or on your own. It makes a difference because paying for rent, food, and other shelter expenditures can consume a lot of financial resources. That being said, in either scenario, debt reduction is the best form of investment within either scenario…
—Jake
A. Jake, first, I’d like to offer congratulations. Kudos for wanting to reach for these goals and milestones, especially since you are quite young, have just begun your career and are still several years away from big mortgage payments and retirement.
One key thing to note is whether you are living with your parents or on your own. It makes a difference because paying for rent, food, and other shelter expenditures can consume a lot of financial resources. That being said, in either scenario, debt reduction is the best form of investment within either scenario…
National Housing Update: How the Real Estate Industry is Faring One Month into 2019
– ratesupermarket.ca
Real estate news is typically quiet in January, but there’s been quite a few developments as of late. To quickly recap, Canadian real estate in 2018 ended with four consecutive months of sales declines. Overall, there was a drop of 11 per cent nationwide, with the 2.5 per cent drop from November to December being the biggest month-to-month change in eight months. To no one’s surprise, Toronto and Vancouver led that decline.
The slowdown in 2018 wasn’t a total shock. The Office of the Superintendent of Financial Institutions (OSFI) introduced a new stress test last year that made getting a mortgage more difficult for some people, while the Bank of Canada continued to raise interest rates. These two factors combined with record debt levels cooled the housing market, but we’re definitely not in correction territory.
No sales data yet for 2019, but the industry is still buzzing
At the time this post was written, sales data for January has still not been released, but a few interesting things have already occurred…
Mortgage Leads From Facebook Messenger? Believe It.
– canadianmortgagetrends.com
Nine out of 10 mortgage professionals can’t generate good quality leads from the web. Are you one of them? If you want to grow your mortgage business, you have to steadily and consistently generate good quality prospects and leads. However, the landscape is changing rapidly and moving in a direction where conventional marketing is becoming […]
