House prices around the country will continue going upwards this year, outpacing inflation after hitting record highs in 2020, according to a Reuters poll of property market analysts who said the risk of a COVID-19 resurgence derailing activity was low. Intermittent lockdown restrictions after a second wave of infections hit the country are threatening expectations…
Spending more time at home has led to Canadians taking on more and more mortgage debt despite the ongoing pandemic. Borrowers have tried to keep up with a housing market that took off in the latter half of 2020 and has yet to slow down. Statistics Canada recently said that household mortgage debt increased 7.4%…
Heavy restrictions are making it difficult for people to make life changing decisions such as buying a house this winter. However, if you’re a qualified buyer, you could definitely consider it! Canadians will be spending more time at home this 2021 winter – living, working, studying, playing, working out, and so on. Is there really…
Buying a home is probably the biggest purchase you’ll ever make. Like most people, it’s unlikely you’ll pay in cash—you’ll borrow most of the money through a mortgage. Over the life of that mortgage, you’ll pay a lot in interest. Small changes in this interest can make a big difference in how much you’ll pay…
The recent drastic change in our economic lives has meant that the big institutions, whether financial or other; has also had to adjust its business model! Fortunately, this is good news because they sympathize with the many affected economically. Some interesting comments were also made by economists and businessmen. Just after mid-March, the Bank of…
This week, we take a break from guest bloggers who have given excellent insight and shared great stories, to focus on more pertinent issues related to the current real estate market and economy. Most, if not all of the mortgage economy is based on interest rates, and this is what this week’s focus is going…
It’s December! At the beginning of November, we discussed the benefits and disadvantages of the variable rate mortgage. A month later, it’s time to talk about the fixed rate mortgage (FRM). The interest rate for a fixed rate mortgage stays the same for the full term of the mortgage. Payments are set…
Last week’s article covered some latest news about the Bank of Canada’s decision to increase the interest rate for mortgages and how it may affect homebuyers. One of the short interviews that was included in the text briefly discussed the difference between fixed rate and variable rate mortgage, but now, you can read more extensively…
Unfortunately, purchasing a home and the financial complications that come with it can be a hassle. There are some necessary papers buyers have to take seriously if they want to be proud homeowners. This weeks’ blog will discuss four important documents you must sign if you want to buy a home through…
Whether you decide to purchase a quaint country home or a luxurious downtown condo, buying a home will probably be the biggest investment of your life. Before you get the keys, you must first do the research and paperwork to secure financing for this expensive purchase.There is so much to think about when mortgage shopping,…
