Stress Test Impacts Measured + MORE Jul 26th

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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 home equity

California's Mortgage Raid + MORE Sep 24th

Jerry Brown and the Legislature refuse to honor a court order..... More »

Insurance Premiums May Rise in 2019 Aug 16th

OSFI is tightening mortgage lending again. But this time, it’ll be less impactful for consumers. The banking regulator issued its final Mortgage Insurer Capital Adequacy Test (MICAT) guideline last week. MICAT is the “framework for assessing the capital adequacy of mortgage insurance companies,.... More »
 bank mortgage

Looser Mortgage Standards Hit the UK! Is Canada Next?! Aug 28th

There’s nothing surprising about the loosening of mortgage standards to spur growth. In the last real housing bubble of 1990, banks and government brought in stricter lending rules, making it tougher for borrowers to get a mortgage. Fast forward to the present. We’ve yet to see a housin.... More »
 property

Is the Gov’t Stalling on Your Tax Return? Here’s How I Handled it! + MORE Sep 28th

Did you file your 2017 taxes on time, yet your NOA is MIA? If so, you’re not alone! I’ve had this happen with a few of my clients… as well as with my own tax return! That’s right! My accountant filed my personal tax return in April… and for months, I didn’t receive my NOA. Every tim.... More »
Live Your Life: You’ll never see a U-Haul following a hearse!Our lifecycle goes something like this… Go to school. Find a job (and work hard for 40 years). Fall in love. Get married. Save money. Buy a house. Start a family. Retire on enough pension or savings. Enjoy the results of your hard work. Live in your house until death. Leave the house for your kids.
This is how most of us envision a normal lifecycle. But how often does this really happen? How many people really live happily ever after? What’s the big deal about tapping into home equity to fully enjoy life?
Statistics tell us that the average annual income for a senior in Canada is $33,500. In the meantime, the average cost of owning a home plus living expenses is $55,000.
That’s where things become unclear. This is where our plans seem to change. We’re holding strong to the idea that we need to work hard all our lives, pay off our mortgage, then scrimp and cut back on our enjoyment in retirement. Why not tap into/spend the equity in our homes or savings to enjoy our lives after working so hard?
We hang on to the notion that we must pass along our net worth to our children… that we should leave them with enough money so they never have to struggle or so their lives are easier or better than ours…

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Stress Test Impacts Measured

– canadianmortgagetrends.com

The government’s latest mortgage rule changes have caused an imbalance between supply and demand in almost every region of the country, and will result in an estimated 200,000 fewer jobs being created over the next three years. Those are among the findings of Mortgage Professionals Canada’s newly released Report on the Housing and Mortgage Market […]

Continue Reading On canadianmortgagetrends.com »

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