Whether you’re scraping together savings for your first home, or contemplating your next move in the market, Canadian real estate can be a tad… overwhelming. This week, we’ve touched on some of your biggest home buying questions, from saving for a second home, down payment loopholes, and even buying property out of the country.
Read on for our full coverage, plus the week’s top headlines.
Can I Still Get a “Zero Down” Mortgage With a Credit Union?
By law, every homebuyer must make a minimum 5% down payment on their new home purchase when taking out a mortgage from a federally regulated lender (think the 5 big banks). But what about credit unions, which are regulated provincially?
The truth is, zero-down mortgages do still exist at some of these lenders. But is it ever a good idea to get one?
Read Allan’s Blog | Can I Still Get a “Zero Down” Mortgage With a Credit Union?
Why Your Starter Home May Be Your Only Home
The traditional way into the housing market is to start small, build equity, and move on up to a bigger and better home later on. But a recent CIBC study titled Staying Put finds first time buyers have little room to grow, as mid-and-high-priced homes spike in value.
Will you be stuck in your starter home? Read on for ways to cope with a rapidly heating market.
Read Allan’s Blog: Why a Starter Home May Be Your Only Home
INFOGRAPHIC: Canadians Top Foreign Investors in U.S. Real Estate
Rising Canadian home prices have left many homeowners with more equity than expected – and they’re taking that new-found wealth south of the border. In fact, Canadians bought a whopping $13.8 billion in American real estate last year.
While buying in the U.S. is currently a great deal, it does come with its challenges. Here’s what you need to know.
Read the Housing Block’s Blog: Canadians Top Foreign Investors in U.S. Real Estate
Are We Ready for the End of QE?
QE, the economic support system put in place by the U.S. Fed post-recession, is on track to end in October. Will this result in a market shakeup? Will interest rates rise in the U.S. – and in Canada – as a result? Read on to find out.
Read Rubina’s Blog | Are We Ready for the End of QE?
The Daycare Dilemma for Immigrants
Finding the right daycare is like solving the Rubik’s cube: it’s a challenge to find a combination of reliability, safety, convenience and affordability. It’s a struggle MoneyWise writer Pracheer understands all too well, as he and his wife search for a daycare for their three-month-old son. Read on for his tips on accessing government funding for daycare costs.
Read Pracheer’s Blog | The Daycare Dilemma for Immigrants
Income Splitting Would Cost Provinces $1.7 Billion Each Year
With a federal election and balanced national budget looming, the spotlight is once again the on the possibility of income splitting, a tax measure designed to benefit families with kids under the age of 18. However, a new study finds income splitting will be costly to the provinces – a $1.7-billion annual price tag, to be exact.
Read Sean’s Blog: Income Splitting Would Cost Provinces
This Week’s #RSMWIN!
This week, we asked our Twitter followers:
Do today’s low interest rates discourage you from saving?
Want your chance to WIN a $25 gift card? Answer this week’s #RSMWIN Q:
Do you think central interest rates will rise next year?
Tweet your answer to @RateSupermarket with #RSMWin to enter for a $25 gift card!