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January 17th, 2017

Real estate and mortgage statistics are good to know for anyone with a property in Ontario. The information can help in choosing the right mortgage product and you can use these stats to gain some insights to where the market might be headed in the future. The numbers may differ depending on your city and neighborhood but here are some real estate trends that might affect the real estate market… Continue Reading

January 17th, 2017

real estate trends

August 15th, 2016

When done right, a rental property is an excellent investment. Historically, Canadian real estate has been a great hedge against inflation. Just think of all those Toronto Baby Boomers whose paid-off homes are now worth hundreds of thousands more than they originally paid. By investing in an income property, you are securing your money in a tangible asset. What is more, the financial benefits are twofold: rental properties provide a… Continue Reading

August 15th, 2016

income properties

July 5th, 2016

Earlier this month, a mortgage-related article published on BNN.ca caught my eye. Looks like Canada’s household debt hovers near record high as mortgage borrowing picks up. Statistics Canada reports that the household debt-to-disposable-income ratio was 165.3 percent for the first quarter of 2016. How does that compare to previous numbers? The last quarter saw the highest ever household debt ratio at 165.4 per cent. That means that so far in… Continue Reading

July 5th, 2016

debt

June 24th, 2016

There are many reasons you may want to – or need to – cancel your mortgage. Maybe you’re paying too much interest. Maybe you need to relocate for work. Or maybe you haven’t even moved in yet, but your circumstances have changed. Regardless of the reason, breaking a mortgage can be difficult and expensive. Here’s a brief overview of how to cancel your mortgage. If you haven’t yet received the… Continue Reading

June 24th, 2016

mortgage agents, mortgage trends

June 14th, 2016

If you’re overwhelmed with multiple debt payments, consolidation may be a great solution. Let’s look at reasons why you may want to use a debt consolidation service. Debt consolidation involves taking out a new loan to pay off a number of other debts. The new loan may result in a lower interest rate, lower monthly payment or both. (Investopedia) The goal of debt consolidation is making your finances more manageable.… Continue Reading

June 14th, 2016

debt

June 7th, 2016

Are you new to Canada? Are you hoping to buy your first home here? Let’s explore how to get a mortgage as a new Canadian. Start Building your Credit History in Canada Before lending you money for a home – called a mortgage – lenders will look at your Canadian credit history. That’s why it’s important to start building your credit as soon as possible once you’ve arrived in the… Continue Reading

June 7th, 2016

mortgage trends, new canadians

June 1st, 2016

Is it really possible to get a mortgage after bankruptcy? The answer may surprise you. Yes, it is possible – as long as you are willing to shape up your finances and be patient. Here’s what you need to know about getting a mortgage after your bankruptcy has been discharged or your consumer proposal has been completed. Factor One – Letting Time Pass The first factor any lender will take… Continue Reading

June 1st, 2016

private lenders, second mortgages

May 26th, 2016

As a mortgage broker, I have been hearing whispers of more expensive mortgages for a little while now. Well, according to canadamortgagetrends.com, it’s official; mortgage costs are about to rise. There are several reasons we may lose our current rock-bottom rates in Canada. Let’s look at why mortgage costs might rise, as well as how you may be affected next time you’re shopping for a mortgage. Reason 1 – Changes… Continue Reading

May 26th, 2016

mortgage trends

May 10th, 2016

This just in from CBC news: Average house price in Canada jumps 15% to $508,567 in March. Incredible. But is our housing market really so red hot? Is that average house price representative of what’s really going on across the country? I turned to the Canadian Real Estate Association (CREA) website to learn more. All numbers I share below are from CREA’s latest National Statistics or National Average Price Map… Continue Reading

May 10th, 2016

banks, debt, mortgage trends, real estate trends

April 27th, 2016

Did you know that lenders check credit scores to decide if a mortgage application should be approved or declined? When you apply for a mortgage, one of the first things your lender does is look up your credit score. Your score is, in essence, a number that gives a quick snapshot of how well you manage your finances. Credit scores can range from about 300 to 900 points. The higher… Continue Reading

April 27th, 2016

mortgage trends, real estate financing, second mortgages

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