Before deciding the types of mortgages that may be right for you, you’ll have to make another important decision – the type of lender you’d like to work with. In Canada, there are three main types of lenders: A lenders (banks, credit unions and monoline lenders), alternative lenders, and p...
Are you looking to renovate your kitchen or go back to school? If you’re a homeowner with some equity, then you might consider taking out a home equity line of credit (HELOC). A HELOC is a low cost borrowing option (compared to unsecured debt and credit cards) since it’s secured against your hom...
Whether you are consolidating debt, refinancing your home, buying a new one, or looking to conduct home renovations, there are a number of options at your disposal. You can go talk to your bank, or do like a growing number of Canadians are doing, and speak with a mortgage broker. But what is a mo...
Refinancing a mortgages is an option many homeowners in Canada consider for various reasons. Some do so to reduce their interest rate and monthly mortgage payments. Others consider it to be the best method to consolidate all their debts. Some find it to be their only way to way to get enough fun...
Owning a home can be incredibly expensive depending on where you live. Most homeowners must take out a mortgage to finance the purchase of their properties if they are unable to pay for it outright. Although mortgages are common, nobody likes being in debt for an extended time period. This is why so...
Ontario’s cooling housing market has been no match for Canada’s booming economy. Canadian GDP surged more than expected in the second quarter, growing at the fastest pace since 2011. Recent data from housing starts to employment suggest the nation carried the momentum forward into the third quar...
It has been an eventful year for the Canadian economy: above average growth, steady job creation and a rate hike from the central bank. Declining home sales in the GTA had an outsized impact on the rest of the country after the Ontario government imposed a tax on foreign buyers. This is Mone...
Canadian property values continued to soar last month, prolonging the uptrend that has pulled average prices well north of $500,000. But for Toronto, signs of a cooldown emerged just one month after the Ontario government enacted more than a dozen new rules aimed at curbing speculation. This is ...
U.S. President Donald Trump wasted little time making his presence felt north of the border. With a stroke of a pen, Mr. Trump issued an executive order to begin renegotiating the North American Free Trade Agreement (NAFTA). Canadians (and their finances) are in wait-and-see mode. Donald Trump has...
Donald Trump’s surprise election victory appears to be sending a “sell Canada” signal to the financial markets. This edition of Money Talks looks at the state of the Canadian market in the aftermath of the US election. Donald Trump became the 45th President of the United States after sweeping...
Canada’s economy is hanging on for dear life. This edition of Money Talks looks at whether there’s light at the end of the tunnel. Interest rates will be lower for longer. That is the underlying message of Bank of Canada (BOC) Governor Stephen Poloz,[1] who is trying to maintain a sense of calm...
This edition of Money Talks explores the resilience of Canada’s housing sector despite a slowing economy. Canada’s economy is in the doldrums, and experts believe it’ll get worse before it gets better. Canadian employment declined by 31,000 in July, as the unemployment rate edged up to 6.9%. ...
Britain’s decision to leave the European Union continues to dominate headlines and conversations around the world. But after last week’s stock market rally, have investors finally gotten over the Brexit doomsday scenario? Not so fast! Technically, Brexit has not happened yet. In fact, it’ll t...
For the second week in a row we were lucky enough to see mostly real estate and mortgage news taking up the headlines this week. Still, we took some time out to read up on the latest happenings around Canada, both with the economy and Rob Ford. Personal Finance How do you save on shopping duri...
Well Christmas came early for us this week! Looking around at the headlines day after day, most of the talk revolved around the mortgage and housing market. Government officials came out to speak on the topic, and people are once again asking why Jim Flaherty wants to interfere with the market once ...
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