Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Banks offer a variety of products to give you access to cash. But is every borrowing option the same? If you’re weighing the alternatives, you may struggle with the choice between a loan and line of credit. Only you can decide what’s best for you, but there are some factors to consider..... More »
The stress test is back in the crosshairs of industry analysts. Earlier this week, CIBC World Markets Deputy Economist Benjamin Tal released a report that attributed an 8% drop in mortgage originations from 2017 to 2018 directly to the federal government’s stress test rules (B-20), which took .... More »
Looking at mortgage rates for a new house? Need a mortgage calculator? Canada residents know it’s easy to fall in love with your dream home. But, it helps to factor in the mortgage loan amount and interest rate beforehand. You want to determine how much house you can afford - p.... More »
A number of reports this month have provided some insight into the latest movements in Canada’s housing market. New data shows that home sales and prices continue to fall in Toronto and Vancouver, with the exception of Toronto condo sales, which have reached a new high. RBC also came out with .... More »
A recent RateSupermarket.ca survey revealed over half of Canadians would choose to renovate their current home, instead of moving to a new home, if they had a budget of $50,000.
With the current high-interest-rate environment and introduction of stricter mortgage regulations, there has been great focus in the media on potential Canadian homeowners struggling to break into the market. These factors also impact current Canadian homeowners and their ability to relocate, however the survey found that the main reasons Canadian’s would rather renovate their existing home than move are comfort and convenience – with a large number saying they simply like their current home and neighbourhood too much to move.
Less than a third of respondents cited affordability as the deciding factor in their choice of “renovate” over “move”.
Who would rather renovate than move?
The survey found a majority of Canadians in every age group would choose to renovate their home, but there was a clear difference among older Canadians…