According to a recent survey sponsored by mortgage insurer Genworth Financial Canada, homeowners are in the best shape when it comes to financial fitness in Canada. Sixty-five percent of homeowners pay off their credit card balances each month (versus 48% of non-homeowners). Furthermore, a quarter of those homeowners with mortgages have managed to make a […]

Selecting the mortgage term that is right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is […]

Globe and Mail Update Published on Wednesday, Jul. 28, 2010 4:44PM EDT Last updated on Wednesday, Jul. 28, 2010 4:51PM House prices still strongCanadian house prices rose 1.3 per cent in May from a month earlier, and now stand 4.2 per cent above their pre-recession peak, according to a Teranet-National Bank composite house price index. […]

METRO VANCOUVER – After decades of debate, Surrey has decided to permit homeowners to have one secondary suite in all single-family homes in the city, following an Ipsos Reid telephone poll in which 63 per cent of those surveyed supported the idea. The move, which received unanimous approval at city council Monday night, brings Surrey’s […]

The Bank of Canada as suspected has raised its overnight rate by 25 basis points to .75 and the banks will most likley follow by raising prime to 2.75% This means if you have a 400,000.00 mortgage your payment will increase by as much $60/monthly With every 25 basis point increase you can expect $12-$15 dollars per 100,000.00 in mortgage […]

Kim Covert, Financial Post · Friday, Jul. 16, 2010 Read more: http://www.financialpost.com/news/Week+Ahead+Rate+hike+cards/3288001/story.html#ixzz0u7teJzQu OTTAWA — Two major announcements bookending the coming week’s economic news will provide a clearer snapshot of the state of the Canadian recovery. The Bank of Canada will be first up when it makes its monthly interest rate announcement on Tuesday. But that […]

  By Julian Beltrame OTTAWA — Canadian firms are giving the recovery a vote of confidence in a key quarterly survey, paving the way for the Bank of Canada’s expected interest rate hike next week. The central bank’s quarterly survey, released Monday, showed firms were concerned about the fallout from the European sovereign debt mess, […]

Canadian economy adds 93,200 jobs in June; loonie jumps after employment report By Julian Beltrame, The Canadian Press OTTAWA – Canada enjoyed another big month for employment in June, churning out a whopping 93,200 new jobs — almost all in Ontario and Quebec and all in the services sector. The strong performance brings the jobless […]

Rental suite can help you pay off that mortgage but ‘it could be a nightmare’ Malcolm Morrison, The Canadian Press TORONTO – Buying a house with a rental suite can be just the ticket to help you pay off your mortgage years earlier than it might have otherwise been possible. But landlord beware: there are […]

Eric Lam, Financial Post · Friday, Jul. 2, 2010 With Canada’s economy stumbling in April, adding fuel to speculation the country’s roaring recovery that began in September 2009 was coming to an abrupt end, economists warned Canada’s central bank will have to tread carefully on its plan to raise interest rates for the rest of […]