National Housing Update: How the Real Estate Industry is Faring One Month into 2019 + MORE Feb 16th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Home Sales Fall Sharply From January + MORE Mar 15th

The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also d.... More »

Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands Mar 3rd

When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likel.... More »

CMHC reports annual pace of housing starts slowed in February + MORE Mar 9th

The housing agency said Friday the annual pace of housing starts slowed in February as higher mortgage rates and other economic conditions soften demand. Economists had expected an annual pace of 205,000 for the month but instead fell to 173,153 units..... More »
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MORTGAGE 101: Understanding Different Mortgage Options + MORE Mar 27th

To new buyers, the real estate market can appear intimidating with jargon like amortization, mortgage insurance, fixed vs variable and so on. Here are some of the key terms and mortgage types you’ll encounter when shopping for your home loan. What is a Mortgage? A mortgage is a loan offered by fi.... More »

50+ with little or no Mortgage? You Need a Line of Credit! + MORE May 15th

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money. The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend.... 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!
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…

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National Housing Update: How the Real Estate Industry is Faring One Month into 2019
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…

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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 […]

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