The New Mortgage Truth?

The new truth about mortgages and the housing market

Are you planning to buy a home this spring? If you’ve been saving for homeownership, especially in one of Canada’s hot urban markets, you’ve likely felt the pinch and panic of rapidly rising home prices. Not only do the latest numbers from CREA find that prices are steadily rising each month, but our RSM pollers unanimously decreed Canadian real estate to be a rip off.

However, a new study has the industry buzzing, as a prominent economist finds the opposite may be true. Read on for our breakdown, along with the week’s top headlines.

Could Canada’s Housing Market Be Undervalued?

Canada’s housing market is too expensive – at least, according to most buyers! Many economists also share the opinion that home prices are too inflated for their own good, and pose a risk to our overall economy.

A new study by CAAMP economist Will Dunning, however, challenges many of these widely accepted beliefs, calling the data into question. Read on for his top arguments.
Read Penelope’s Blog | Could Canada’s Housing Market Be Undervalued?

Debit Fraud – A $38.5-Million Problem

Debit card scams are among the most prevalent in Canada – and you often don’t know you’ve been targeted until faced with an empty bank account. Protecting yourself, and your finances from would-be fraudsters comes down to keeping your pin safe. Here’s what you need to know.

Read Allan’s Blog | Debit Fraud – A $38.5-Million Problem

Mismatched Credit Cards Cost Canadians Thousands

Looking for a new credit card? With so many credit card options available in the Canadian marketplace, consumers may be overwhelmed by their choices, especially when determining the true dollar value of selecting one credit card over another. See how yours stacks up with these Credit Card Rewards Calculators.

Read Penelope’s Blog | Mismatched Credit Cards Cost Canadians Thousands

And for the rest of the week’s top finance news…

 A Look At Shadow Banking In China

Shadow banking is a common practice in China, where government regulations make it tough for new businesses and individuals to receive loans from traditional banks. However, concern is growing that this type of lending isn’t sustainable, and what the global consequences would be if the system collapses.

Read Rubina’s Blog | A Look At Shadow Banking In China

The Housing Block: Should You 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. Our friends at The Housing Block break down the pros and cons of each, from buying to homeownership.

Read The Housing Block’s Blog | Should You Buy A Condo Or A House?

The Economic Impact Of An Independent Quebec

The push for Quebec separation has a renewed force, as a popular billionaire media mogul has joined forces with the PQ. This means the outcome of the provincial election on April 7 could determine whether Quebec will become its own nation. Here’s what that would mean for the province’s economy, and for the rest of Canada.

Read Sean’s Blog | The Economic Impact Of An Independent Quebec

Expect Slower Growth: Highlights From Stephen Poloz Speech

Bank of Canada Governor Stephen Poloz made a speech Tuesday, underlying his stance on economic growth this year. The biggest risk: baby boomers, who will be retiring en masse, with a penchant for saving rather than spending. Here’s what Canadian consumers can expect.

Read Gordon’s Blog | Highlights From Stephen Poloz Speech

Do Fixed Mortgage Rates Provide Better Value Than Variable?

Variable mortgage rates have been at bargain lows for the long term – but a new study from BMO suggests locking into a fixed rate provides better value over the course of a mortgage for homeowners.

Read Penelope’s Blog | Do Fixed Mortgage Rates Provide Better Value Than Variable?

#RSMWIN Results

Ladies and gentlemen, for the first time EVER, our pollsters were 100% unanimous!

The question: Is the Canadian housing market overvalued?

Looks like there are a lot of frustrated buyers and owners who’ve had enough of these skyrocketing prices!

Want your change to WIN? Visit us on Twitter with #RSMWIN, and answer this week’s Q:

Do you use an accountant to file your taxes?

The Finance Link Lineup

A new Finance Minister: Jim Flaherty has given his official notice, leaving his post to return to the private sector. Taking his place will be former Natural Resources Minister Joe Oliver. Via The Financial Post

You want to claim what?: The various wacky things Canadian taxpayers have tried to claim on their taxes… and what has actually been accepted by the CRA. Via Golden Girl Finance

Tax Tips For Freelancers: Filing your taxes is far from black and white when you’re self employed. Here’s what contractors and freelancers need to know come tax time. Via Give Me Back My Five Bucks

Related Topics

Mortgage News / Mortgages

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