A reverse mortgage is a home equity product that allows home owners aged 55 years and older to access up to 55 per cent of the value in their home. Home owners can choose to receive the money… Continue reading »
Category: Mortgages
Which is a Better Buy – A Condo or a House?
Should you splurge on a detached house – or are you better off living the condo lifestyle? This is a common conundrum for buyers deciding how to spend their real estate dollars. But the truth is… Continue reading »
Buying A Home / First Time Home Buyers / Home Ownership / Mortgages / Personal Finance / Personal Finance News / RSM News / Your Budget
TD Survey Finds First Time Home-Buying Anxieties; Tips on How to Overcome Them
Obviously, buying a home isn’t as easy as buying milk from the store. But a recent TD survey found that 56% of people have anxiety when buying their first home due to… Continue reading »
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Mortgage News / Mortgages / Personal Finance / RSM News / Your Budget
Packing Less Punch: Millennials’ Home Purchasing Power Drops by $40K due to New Stress Test Rules
A Royal LePage study found that while a millennial could afford a $243,349 home last year, that’s now dropped to $203,246. The OSFI stress test now applies to… Continue reading »
Buying A Home / First Time Home Buyers / Growing Your Money / Home Ownership / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / RSM News / Savings / Savings 101
The Best Place to Save Your Home Down Payment
Have a down payment ready, but not ready to buy your home? Investing it in the meantime can yield results, but can be risky. Find out how to make money… Continue reading »
Economic News / Lifestyle / Lifestyle News / Mortgage News / Mortgages / Personal Finance / Personal Finance News / RSM News
Bank of Canada Keeps Rate Steady at 1.25%… But Increase is Imminent
The Bank of Canada announced it’s keeping its key interest rate at 1.25%. New forecasts show inflation running past the 2% target, so the BoC may hike rates soon due to… Continue reading »
The Hidden Costs When Buying a Home
Planning to buy a home? The cost of buying a home is always more than the purchase price and a moving truck rental. First-time home buyers are often shocked when they hear about closing costs such as… Continue reading »