Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
The incredible variable rate wars we’re seeing this month are about to come to a close! It would be a shame to miss out on these savings! And, while there is a possibility that they’ll extend into June, I wouldn’t risk it – deep savings like these don’t come around eve.... More »
If you faithfully pay your loans, mortgage and credit cards each month, then you’ve probably received a call or letter from your bank with the news that you were pre-approved for a credit increase or a line of credit. You might be thinking, I don’t even use all the credit I currently have. I do.... More »
While Vancouver area home sales are still posting year-over-year declines, signs are appearing in the Greater Toronto Area that the worst of the housing correction is now over. Experts say that likely won’t be enough to stave off a slowdown in national GDP growth, however, which in part will b.... More »
Credit unions saw their slice of the broker pie shrink in Q1. That comes despite OSFI’s January 1 stress test, which played right into their hands given they are provincially regulated. Broker market share for CUs fell 0.6% versus Q1 2017. Less competitive pricing was a key reason. In particul.... More »
As many already know, purchasing real estate isn’t as simple as purchasing milk from the corner store. Naturally, buying any home – let alone your first home – is a process that involves a substantial amount of decisions, paperwork, and money.
The results of a recent survey conducted by TD found that 56 per cent of its 1,001 respondents aged 18 to 69 have reservations when it comes to purchasing their first home. According to the survey, respondents cited their biggest concern as the fear of missing an important aspect that is necessary in the home-buying process. Over 70 per cent are concerned they will endure expenses they do not foresee, while 24 per cent find it outright stressful, and 21 per cent view buying real estate as understandably overwhelming.
But there are some ways to help offset these worries. You can make your real estate investment much more manageable by ensuring you owe little-to-no money elsewhere, understanding all of the expenses – big and small – that you may incur during the process, and, finally, selecting the right mortgage loan on your property to make payments as easy as possible…
It’s not just new homeowners who are feeling the impact of higher interest rates and tougher lending standards: even those who’ve already bought are feeling the heat.