In 2018, new Ontario mortgage applicants likely won’t be able to afford the same home, as stricter mortgage rules come into place. And while those with a fixed rate mortgage are not impacted by interest rate increases implemented by the Bank of Canada, their affordability will be affected as well. For example…
It’s Financial Literacy Month! One of many important skills to have includes making sense of your credit bureau report. We explain what those codes and numbers mean – and how they impact your ability to borrow.
Want to take out a loan or mortgage, but don’t know where to start? Planning to Borrow by Steve Bang demystifies the world of consumer borrowing. Read on for our review, and prepare yourself before you walk into the bank.
Is your credit score mortgage ready? Many Canadians don’t know the state of their score before starting the pre-approval and application process – and they could be in for a nasty surprise. Here’s what you need to know about your score – and how you can improve your chances of qualifying for a mortgage.
The minimum home down payment has been increased to 10% from 5% on homes priced over $500,000. What does this mean for buyers? Read on to find out .
Canadian home buyers are doing a better job of paying off their mortgages, reports the CMHC’s Q3 update. The average credit score of borrowers is also improving – read on for the full story.
Condo incentives are extra features tossed in by developers to reel in buyers – ranging from guaranteed rent income to new cars. Here’s a sample of the goodies up for grabs in some markets.
The Conservative government announced it plans to expand the maximum withdrawal amount for the Home Buyer’s Plan to $35,000. This is the most recent pre-election promise targeting home buyers struggling with steep affordability – but will this measure help, or hurt, the housing market?
Do you find yourself fighting back against fees whenever you do your everyday banking? You’re not alone – a recent survey finds Canadians are increasingly dissatisfied with their banking service.
Good news for prospective home buyers and landlords: the CMHC has announced that 100% of profit from an income suite can be used toward your mortgage qualification, Previously, only 50% was allowed. Read on to see how this can affect your home financing.