Scotiabank to buy small Dallas bank in mortgage-finance play + MORE May 30th
Opinion: When another refinance may be the wrong answer + MORE Jun 20th
How your rent payments can help build your credit history + MORE Oct 4th
National Bank says its consumers remain “resilient” with $1 billion worth of excess liquidity Oct 2nd
Rocket Mortgage Canada winding down operations + MORE Mar 7th
Prime rate rises to 5.45% following the BoC’s 75-bps rate hike
– canadianmortgagetrends.com
Will you make money on your rental property?
– moneysense.ca
If you are thinking about becoming a landlord, you need to consider not only the purchase price and mortgage repayment costs of your property, but other financial considerations as well.
How much does it cost to buy a rental property?
When purchasing a rental property, the typical down payment requirement is 20% of the purchase price. If the owner is going to occupy one of the units in a multi-unit property, there is a lower minimum.
For one- or two-unit properties, a buyer needs only 5% of the purchase price and can borrow the other 95%. However, if the property is worth more than $500,000, the minimum down payment is 5% on the first $500,000 plus 10% of the excess…
Housing affordability: What happens when lower home prices take on higher borrowing costs?
– moneysense.ca
I believe that improved home ownership affordability is on the way, but that the “improvement” will likely be modest. To understand why, it helps to know how we got here and to consider what happens to the affordability equation as home prices go down and borrowing costs go up.
Inflation (not rates) is the biggest concern for central banks
Since March 2022, the Bank of Canada (BoC) has been raising interest rates in an effort to tame runaway inflation.
In June, inflation in Canada reached a 39-year high of 8.1% year-over-year, after decades of mostly low, stable and predictable inflation. It eased to 7.6% in July, but it remains well above the BoC’s target of 2% annual inflation…
