How to prepare for a 2023 recession + MORE Nov 19th

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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Struggling to make mortgage payments? How to avoid the slippery slope that leads to losing your home + MORE Nov 22nd

More and more Canadians are having trouble making payments as rates continue to rise. Here’s how to get back on track and make sure you don’t put your home in jeopardy..... More »

Your mortgage interest payments are likely going up. Is there a way to reduce them? Nov 28th

A lump-sum payment would go directly to the principle of your mortgage, meaning you’re immediately paying less interest..... More »

The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC Nov 25th

Homebuyers with a variable mortgage rate are facing a "painful" adjustment as interest rates continue to rise, the Bank of Canada's Senior Deputy Governor Carolyn Rogers said this week..... More »
In the face of a slowing housing market, Equitable Bank reported strong third-quarter earnings results.

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The Great Recession scarred me. I was just about to graduate from university in 2008 when it hit: The fallout from the subprime mortgage crisis created a deluge of fear, anxiety and pure panic from all corners. The S&P 500 plunged by 57%, U.S. gross domestic product (GDP) declined by 3.8% and employment dropped by 6%. Similarly, in the European Union (EU), GDP sank by 4.4% in 2009 and about 6.7 million jobs were lost from 2008 to 2013. 

Never mind that Canada barely suffered compared to the United States and Europe—Canada’s GDP fell by 3.6% for only three quarters across 2008 and 2009 before recovering, while employment dipped by just 1.8% in the same time frame. Mass uncertainty still swept the air. Home ownership and retirement plans washed away and headlines screamed that there were no more jobs to be had. It seemed the only sensible course of action was to hide out and let it all rumble over. I enrolled in graduate school. 

Eventually, the global economy did recover…

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