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Alberta the only Province with Housing Start Increase
Alberta is the only province in Canada expected to see an increase in housing starts next year. Alberta has seen job conditions and inter-provincial migration rise dramatically at the expense of both Ontario and British Columbia. Increase in-migration has an upward affect on housing demand which we will see next year.
Rate is Only Part of the Mortgage Decision
When it comes time to choosing a mortgage, many homeowners opt for the lowest rate they can find, at the traditional five-year term, without paying attention to the fine print. In many cases, these no-frills mortgages – and even some that have frills -can make a huge dent in your wallet if you ever try to break them.
Interest Rates will Eventually Go Up
More and more Canadians have taken on variable rate mortgages in the last few years. However with mortgage rates poised to increase over the next 12-24 months, how much increase can you afford? This article discusses strategies for dealing with that change because if anything is certain, it is change.
Paying off your Mortgage Pays
If you are looking for a good guaranteed return on your investments, look no further than your mortgage. Paying off you mortgage can give you far better returns than most guaranteed investments, and it comes with much less risk than buying equities and stocks. Rates are low now, but when they go up soon the cost of that mortgage will increase and the return on your investment by paying it down will also increase.
Calgary is Canada’s Economic Hot-Spot
Calgary is quick becoming the new economic hotspot in Canada. While other provinces, specifically Ontario, Saskatchewan and BC have recently had larger spikes in residential housing prices, it certainly seems that Calgary is on the verge of big growth again. A dramatic reduction in downtown office space points to large job creation in our region which normally translates to increased housing demand.
Bank of Canada Leaves Prime As-Is
The Bank of Canada has decided to maintain the target for the overnight rate at 1 per cent and Prime at 3.0%. With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada.
Dropping in on Kate
Neighbourly advice for buying your home. A recent homebuyer offers reassuring guidance and tips — enhanced with step-by-step insights and expertise from CMHC.
No More Morgage Rule Tightening
Last week Canadian Finance Minister Jim Flaherty dismissed speculation about a Canadian housing bubble, telling reporters in New York on Wednesday that there is no reason to further tighten the Canadian mortgage rules.
The End is NOT Here
As Canadian consumer debt levels creep higher and higher, many articles have been written about how a U.S.-style recession is destined to hit Canada. That’s why it’s refreshing to come across the odd article that opposes this Chicken Little (the sky is falling) type view - like this one in the Montreal Gazette . The article [...]
Why Interest Rates are Edging up– just a bit!
We are seeing a little bit of upward pressure on mortgage interest rates. But this is not a bad thing! Read this article to see why we have seen recent hikes to 5 year fixed rates over the past few days with more lenders still to come.
