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Clear up debt for 2016: a great financial goal because of low rates

  About a quarter of my mortgage practice consists of people who come to ask advice and help around paying off debt. Considering that a mortgage is normally a person’s largest liability, there are a couple of simple things you can do if you’re carrying balances on credit cards, or lines of credit. As companies… Read More

Housing Market Outlook 2015 and projection for 2016

New Home Market In the Kitchener-Cambridge-Waterloo (KCW) and Guelph areas, housing starts will be lower in 2016 and 2017 compared to 2015. There will be a greater decline in apartment starts (both condominium and rental) in KCW however, single-detached starts will increase slightly as the demand will remain strong and more land will become available… Read More

More money down required if you’re buying a home…but only if it’s more than $500K

If you’re buying a house for more than $500,000 you’ll need to have more money saved for a down payment. Outside of Toronto and Vancouver, most first-time home buyers can purchase a nice home for less than this. However, lenders are likely to pass future costs for mortgages down to consumers, find out more from… Read More

Trends in 2016 which will impact mortgage borrowers

Trends in mortgage financing that have impacted buyers and sellers in 2015 The overall sentiment of mortgage lenders, be it bank’s or wholesale banks, is more restrictions to lending money and this will continue for 2016. However, if you know these key factors you can use them to your advantage. Working with a seasoned mortgage… Read More

Opportunities for real estate investing

According to Canada Mortgage Housing Corporation (CMHC) despite slightly rising vacancy rates, Guelph will continue to have one of the tightest rental markets in Ontario. How can real estate investors tap into this market? Demand for rental accommodation will be supported by fewer households moving to ownership, younger and older households, and relatively stable student… Read More

Canadian highlights from TD bank

Here are some highlights that come from TD Economics about Canada: -Economic data this week supported the view that the Bank of Canada will remain on hold at next week’s FAD meeting. -Despite the disappointing headline, the August manufacturing data released this morning fit comfortably with our estimate of real GDP growth of 2.5% annualized… Read More

Watching the Mortgage Market: Where do you stand?

Canada Mortgage and Housing Corporation (CMHC) recently published its Consumer Survey for 2015 and sheds some interesting trends. Here’s a summary of what Canadians are doing with their mortgage. When you understand people’s habits around financing, it can help you get a better mortgage. Here’s a summary of the report… Renewing your mortgage We have… Read More

Mortgage Rates & Economic Outlook

Mortgage rates and the Economic outlook – you can’t have a good discussion of one without the other. As hard as this is to write, it looks like the five-year fixed mortgage rate will be stable at around 2.70% for some time. I write this knowing that as soon as this hits the printer that… Read More

Selling your house? Think there should be no issues in qualifying for another mortgage? Think again.

If you’re contemplating selling your house and buying another one and you don’t think that getting approved for a mortgage will be an issue, think again. In the 15 years that we’ve brokered mortgage, we’re finding more and more people declined by their own bank for their next mortgage. Why? Tighter mortgage regulations are making… Read More