Why it’s important to review your mortgage now before rates rise

General Angela Calla 17 Jun

Carney warns of trouble in overheated housing market once interest rates rise  Keven Drews, The Canadian Press VANCOUVER – Canada’s housing market is entering overheated territory and many Canadians could be financially hurt once interest rates begin to rise, Bank of Canada governor Mark Carney is warning. The central banker on took his case for […]

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Average debt load 26k want to save $800 a month- read below.

General Angela Calla 2 Jun

Canadian debt load: $26,000 – excluding mortgages- save yourself on average $800 a month by redoing your mortgage today to include that debt and say goodbye to it More Canadians are living closer to the edge as consumer debt loads continued to climb in the first three months of the year, a study shows. Already […]

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Is buying a student condo for my child a good investment?

General Angela Calla 2 Jun

Is buying a student condo for my child a good investment? Sometimes a parent decides to buy a place for their children while they hit the books in university or college. It can be a good alternative to paying thousands of dollars toward residence fees or rent. Just look at the math: Student rent of […]

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Prime remains at 3%

General Angela Calla 31 May

Good Morning, As suspected rates have held steady this morning, meaning no change to variable rate mortgages or lines of credit with the current payments. Lenders appear to be minimizing the discount avaliable on variable rate mortgages which has been one of the most benifical options to help borrowers over the last decade pay there mortgages […]

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Mortgage Rules equals less housing starts

General Angela Calla 30 May

Mortgage rules to push housing lower: CMHC   Housing starts and sales will fall more into line with “demographic fundamentals” this year and next, according to the latest housing outlook from the Canadian Mortgage and Housing Corporation. The crown agency said it expects housing starts will range between 166,600 to 192,200 units in 2011, with […]

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Podcast-Why is housing so hot in Canada

General Angela Calla 30 May

  This week on an abbreviated Big Picture podcast (co-host John Shmuel is off in parts unknown): If you’ve been in the market looking for a home the past few years, you’ve likely griped about how seemingly far out of whack prices have become. This is especially true if you happen to live — or […]

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Lessons from the Financial Crisis

General Angela Calla 26 May

The Bank of Canada released a special issue of its Review, “Lessons from the Financial Crisis,” which examines the recent research on the role of liquidity in the financial system, and the public policy responses that aimed to restore stability to the financial system during the crisis and foster economic recovery.   The Globe and Mail’s […]

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No matter what I hear, I would never rent

General Angela Calla 26 May

No matter how many stories I read about housing price bubbles and rising interest rates, there’s no way I would go back to renting, and most Canadians feel the same way.    For three long, miserable years, my husband and I rented a unit attached to our landlord’s sprawling house in northeastern Toronto. Every time […]

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Avoid these mistakes if you want to score a mortgage

General Angela Calla 19 May

A variety of factors can keep you from qualifying for a mortgage.    The big ones include a low credit score, insufficient income for the size of the loan you want, insufficient down payment and excessive debt. All of these factors are within your control, however.   Click here to read the Globe and Mail’s […]

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