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Pace of House Price Inflation in Toronto and Vancouver to Return to Earth in 2016

By |2016-01-25T23:18:02-08:00January 25th, 2016|Budget, Finance, Real Estate|

Canada's residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national [...]

Yikes. Is 5% down mortgage a thing of the past?

By |2015-12-12T19:32:52-08:00December 12th, 2015|Budget, Finance, Real Estate|

The federal government is boosting the minimum down payment for higher-priced homes in Canada effective in the new year. The bad news isn't as bad as we anticipated..... yet. Starting in February 2016, CMHC will require a 10 per cent down payment on the portion of any mortgage it insures over $500,000. The five per cent rule remains the same for [...]

Bank Vs. Mono-Line Lenders

By |2015-11-25T00:57:57-08:00November 25th, 2015|Finance|

This article is stating that Many consumers out there are coming to mortgage brokers and demanding that their mortgage be placed with one of the big six banks. One mortgage broker even says that his client took a higher rate, just to have their mortgage with TD, as opposed to a mono-line lender. Mono-line lenders [...]

Finally! CMHC rental income makes it easier for middle class community to own a house.

By |2015-08-06T17:28:59-08:00August 6th, 2015|Budget, Finance, Real Estate|

As of September 28th, 2015, CMHC will be changing it’s borrowing rules to help facilitate more affordable housing in Canada. Currently, home owners with legal rental units can use 50% of the rental income towards their total income which means that home buyers can borrow more money. When the new rules come into affect, borrowers [...]

Bank of Mom and Dad Expected to Fund Nearly Half of Upsizers and First Time Home Buyers

By |2015-04-27T18:48:37-08:00April 27th, 2015|Budget, Finance, Real Estate|

According to a 2015 Home Buying Report released, Canadian homeowners looking to "upsize" will be turning to their parents for financial help that is higher than the amount first time home buyers are hoping to get from their family. In fact, 42 per cent of current home owners looking to upsize their home are expecting [...]

Quick tips and answers about RESPs

By |2014-12-05T20:29:54-08:00December 5th, 2014|Finance|

(NC) New parents have hundreds of questions and well-meaning family and friends have plenty of advice when it comes to putting money aside for education of children. But how do you know what is really right for you and your family? As one example, let's examine the Registered Education Savings Plan (RESP). Why save with [...]

17 per cent of first-time homebuyers’ down payment comes from family

By |2014-11-27T01:10:05-08:00November 27th, 2014|Budget, Finance, Real Estate|

First-time homebuyers on average make a 21 per cent down payment on the purchase of their new home; since the 1990s, about 40 per cent of this has come from personal savings, suggesting Canadians wait to be financially stable before purchasing. But recently, as home prices have risen, 17 per cent of the down-payment has [...]

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Soft Landing Still Likely for Canadian Condo Market

By |2014-08-15T19:08:18-08:00August 15th, 2014|Finance, Real Estate|

Population, economic and employment growth all point to a stabilizing of the Canadian condominium market, according to the latest Conference Board of Canada condo report commissioned by Genworth Canada. The Summer 2014 Metropolitan Condo Outlook forecasts that while pockets of higher risk still exist in Toronto and Vancouver, a broad-based downturn is unlikely. “The report [...]

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Industry intentions for large buildings and single family homes on the rise

By |2014-08-08T23:08:41-08:00August 8th, 2014|Finance, Real Estate|

According to the latest statistics from StatsCan, contractors took out building permits worth $8.0 billion in June, up 13.5% from May. The June increase was mainly due to higher construction intentions for institutional and industrial buildings in Quebec and commercial buildings in Alberta. In the residential sector, the value of permits edged up 0.4% to [...]

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