OSFI Relaxes Proposed Changes to Mortgage Renewal and HELOC Guidelines
Mortgage News / Mortgages

OSFI Relaxes Proposed Changes to Mortgage Renewal and HELOC Guidelines

Great news for homeowners! OSFI has revised proposed changes made in March to mortgage renewal and HELOC guidelines. The changes, which would have subjected home owners to a new credit risk check upon renewal, as well as imposed an amortization rate on home equity line of credit, were revised in light of criticism that they would cause more harm than good to the Canadian housing market. Continue reading »

Friday Mortgage Round-Up:  June 1st, 2012
Mortgage News / Mortgages

Friday Mortgage Round-Up: June 1st, 2012

May’s been a busy month for Government of Canada 5 Year Benchmark Bond Yields – they’re currently sitting at the lowest rate in 4 months! Why all the activity? Global markets are the main factor behind these levels. As uncertainty continues to plague global economic markets, both Canadian and international investors are turning to the resilient Canadian marketplace – and Government-backed bonds. Continue reading »

Friday Mortgage Round Up: May 25th, 2012
Mortgage News / Mortgages

Friday Mortgage Round Up: May 25th, 2012

Canadian real estate developments have been getting a lot of attention from foreign investors lately. Considering how affordable developments here seem compared to those in Paris or London, it’s no wonder the Land of the Brave is seen as a safe haven. But does this spell trouble for Canada’s housing market? Is jacked-up inflation feeding a potential housing bubble? And will it cause Canada to follow in Australia’s footsteps and prohibit purchases from abroad? Continue reading »

Credit Card Usage in Canada and Around The World
Credit Card News / Credit Cards

Credit Card Usage in Canada and Around The World

According to the Canadian Bankers Association, Canadians collectively held 74.5 million Visa and MasterCard credit cards in 2011. That works out to nearly three cards per adult. And that’s just Visa and MasterCard cards. With millions of retail cards issued by stores like the Hudson’s Bay Company and The Brick and it’s no wonder our wallets are bulging, even if there’s no cash in them. But how does this compare to others countries? And what are the implications of our addiction to credit? Continue reading »

Condos in Canada: Is the Bubble a Myth?
Buying A Home / Mortgage News / Mortgages

Condos in Canada: Is the Bubble a Myth?

Despite what all the real estate market pessimists might say in my opinion there is no condominium bubble in Canada. All signs point to Canada’s real estate market remaining strong for this year and well into the rest of the decade. In most major urban centers the average resale price is at historic highs. This indicates an even greater need for condominiums, which are often seen as a more cost effective alternative to single family homes. Here are the major reasons that debunk any theory that Canadian condominium prices are bubbling. Continue reading »