As was pretty much expected, the Bank of Canada held the overnight interest rate at 1 ¾% this week, citing a weaker outlook for the Canadian economy. The softer tone from the Bank is in direct contrast to what they said when they last met October 24. Since that time, oil prices have fallen considerably… Read More…
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Stress Test…Eight Months Later
The government’s latest mortgage rule changes have caused an imbalance between supply and demand in almost every region of the country, and will result in an estimated 200,000 fewer jobs being created over the next three years. Those are among the findings of Mortgage Professionals Canada’s newly released Report on the Housing and Mortgage Market in… Read More…
Pay Off Your Debt AND Reduce the Amortization on Your Mortgage
Paying down, and off, debt is a priority in everyone’s life. Every family and individual should have a written household budget. There are plenty of these online to be had. If you don’t have one or would like me to send you one, please email me and I will do so. By paying off one… Read More…
New Mortgage Rules=Lower Purchasing Power
Here’s a great article written by a colleague of mine, Dustan Woodhouse, about how the new mortgage rules have severely limited purchasing power. The average person if stopped on the street and asked; Are today’s low interest rates driving up house prices? Would likely say ‘yes’. They would be wrong. And we can let their… Read More…