Feeling Verklempt about the recent mortgage rates ? Apparently the Lone Ranger and Tonto are apparently riding to your rescue. The Government intends to introduce a New Canadian Mortgage Charter. Salient points: 1: Extended Mortgage Amortization Periods. 2: Allowing borrowers to switch lenders under the insured qualifying minimum rate. 3: Eliminate superfluous banking charges. (minimal penalties) […]
The wolf-like bite of higher global interest rates is now tearing into the very soul of the Canadian economy. Consumer spending is in decline, and home sales in the Greater Toronto Area (G.T.A) have dropped for the 4th month in a row. Additionally, nearly 20,000 condo pre-construction units have been pulled off the G.T.A real […]
Are you in the midst of buying or selling a property, assessing an estate, or exploring investment opportunities? If so, hiring a professional appraiser could be one of the smartest decisions you make. Appraisers bring a wealth of knowledge, expertise, and unbiased perspective to the table, ensuring you have a reliable and accurate assessment of […]
Confused by all the repeated references about a pending recession? All the while companies of every description struggle to find qualified employees. How does a scenario of full employment translate into a recession? Perhaps the substance behind the argument for a pending recession, can be found by examining an integral part of our shadow economy? […]
Baffled by the Vagrancies of the Mortgage refinancing market? Know that you are not alone! CMHC has been quoted that their “Mortgage refinances requests have dropped by 32%”. Despite Canadians being personally the most indebted G7 nation. Combined with mortgage payments skyrocketing because of the 450 basis point hike in rates. Why are […]
Consumers all over the world are wondering have interest rate hikes stopped rising? Have central banks stepped permanently back from further rate hikes? What is the tangible relationship between the BOC and our National Lenders? What exactly is this tight money policy being advocated by Canadian Banks mean to the average homeowner? Many are also wondering […]
Canadian households are dedicating more of their disposable income to mortgage payments than ever before, according to the latest data from Statistics Canada. In Q4 of 2022, Canadians spent 7.66% of their household disposable income on servicing their mortgage debt, up from 7.5% in the previous quarter and 7.09% in the same period in 2021, […]
Accurate`s female Appraisers are asking: Have Canadian interest rates peaked? These Charts might help explain.
Amid the current state of Canada’s housing market, many Canadian homeowners with variable-rate mortgages are “riding the whirlwind” of rising interest rates. CIBC has revealed that nearly three-quarters of its clients with variable-rate mortgages have reached their trigger rate, which is the rate at which they must convert to a fixed-rate mortgage due to Bank […]
Buying a home normally represents One of the Biggest Financial decisions of your lifetime ! First off Don`t rush, The hyperbola of 2021 and earlier has passed. Start by being prepared make a list of wants and needs. Start with Location! Act prudently: Protect yourselves by; 1: Prearranging Approved Financing. (in writing) Shop around find […]