In Canada, you can use funds from your Registered Retirement Savings Plans (RRSP) to help buy a new home. The Home Buyers’ Plan (HBP) is a program ran by the Government of Canada that allows first-time home buyers to withdraw…
It’s been another banner year for real estate in the Greater Toronto Area. The average price for all property types sold in the GTA came in at $729,922 in 2016 – that’s an increase of 17.3 per cent from 2015.
Bank of Canada Rate Update – December 7, 2016 As expected, the Bank of Canada is holding its benchmark interest rate at 0.5 per cent. The scheduled announcement today was in line with expectations. “Following a very weak first half of 2016, growth in the third quarter rebounded strongly, but more moderate growth is anticipated …
In an effort to find new revenue streams, the City of Toronto is looking at raising the rate of its Municipal Land Transfer Tax (MLTT) on home sales. The proposed hike would add an additional $750 in closing costs to the average home, and would add an estimated $100 million…
Is it worth holding onto your current residence as an investment property when you buy new? We’re taking a look at the benefits and drawbacks and questions you need to ask yourself before making the decision.
If you’ve been following along with our debt-free journey since the beginning of the year, you can likely see the finish line from here. So what will your life be like after your final debt repayment? Here are some strategies to keep up the good habits in 2017.
Just two weeks after TD Canada Trust hiked their prime rate, RBC has announced they’re bumping up their fixed mortgage rates anywhere from 25 to 40 basis points. Read on to find out how much more this may cost you and why fixed rates are rising in the first place.
It’s been a month since the first of the new federal mortgage rules came into effect. Now, RBC has become the second of the five big banks to raise mortgage rates – effective Thursday. How else have these new rules impacted our purchasing power?
Breaking news: The Ontario government says first-time homebuyers will be eligible for a rebate of up to $4,000 in provincial land-transfer tax as of January 1st. Read on for more on the other changes, all announced in Monday’s fall economic statement.
TD Canada Trust is the first bank to raise its prime rate for variable rate mortgages since new federal mortgage rules were introduced last month. So is this the beginning of a trend?