CMHC’s Gloomy Outlook: Up to 18% Drop in Home Prices, 20% Arrears Rate + MORE May 23rd

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Should you buy or sell first in today’s real estate market? May 1st

We’re in the market for a new home, but we aren’t sure whether we should sell our home first or buy first. We’ve had people suggest both, and we’re wondering what might be best in the current real estate market. Should you buy or sell first in real estate?  Whether you should buy .... More »

Latest in Mortgage News: Are fixed mortgage rates about to take another leg higher? Aug 6th

There's speculation that fixed mortgage rates, which have continued to trend higher over the past several weeks, are set to rise even further..... More »

Latest in Mortgage News: House Price Growth to Cool by End of Year: TD + MORE May 1st

TD Bank is forecasting that home prices have further to rise yet before finally starting to lose steam by the end of the year. “…with markets remaining historically tight, more near-term gains are in the cards,” wrote TD economist Rishi Sondhi in a recent report. But, with home pri.... More »
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Majority of Canadian Buyers Borrowing Their Maximum Approved Mortgage + MORE Jul 22nd

Soaring home prices over the past year have forced a majority of today's homebuyers to use the maximum mortgage amounts they've been approved for..... More »

CMHC-Backed Report Calls for Annual Surtax on Homes Valued at $1M+ + MORE Jan 7th

A new report backed by Canada's national housing agency is calling for a home equity tax on houses valued at $1 million and more..... More »
The head of the Canada Mortgage and Housing Corporation delivered a particularly gloomy forecast while testifying remotely before the House of Commons Finance Committee on Tuesday. Among those predictions, CMHC CEO Evan Siddall said: Home prices could fall from their peak by 9% to 18% over the next year Mortgage arrears could top 20% Mortgage deferrals could jump to 20% from 12% by September Canada’s debt-to-GDP ratio is estimated to rise from 99% pre-COVID to 130% by Q3 The debt-to-disposable […]

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It’s all about cash flow.

– canadamortgagenews.ca

It’s all about cash flow.

Positive Cash flow is when you have more money coming in than goes out each month. Simple to understand but for many of us, this just isn’t happening right now.  

If you are experiencing a negative cash flow situation,  you need to take action now. Here are some steps you could take to improve your situation.

Step 1 – Identify your cash flow.  

Add up any and all income that you are receiving.Add up all your current living expenses.  

If the math is positive, you are one of the lucky ones.  If the math is negative or you want to improve your cash flow,  continue to Step 2.

Step 2 – Determine which expenses you can change.  

Simple examples would be to cut out cable tv and just keep the internet.  Using Streaming services? Pick your favorites and cut the rest.Take advantage of the 6-month mortgage deferral option.  Cut out any subscriptions to news sites or other unnecessary costs…

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