Summary

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] In these days of economic uncertainty due to the pandemic, many people are experiencing job loss, reduced or lost wages and difficulties when it comes to meeting their financial obligations. There are steps we can undertake to better address the …

Assess your Current Spending During COVID-19 Read More »

[et_pb_section][et_pb_row][et_pb_column type=”4_4″][et_pb_text] As the economy slows down during the pandemic, there are still some people claiming the real estate prices will go up. The head of CMHC, Canadian national housing agency, is warning the homebuyers and homeowners to exercise caution and question motivation for such claims. There are several factors that put bold statements like …

CMHC Head Warns Homebuyers To Question Motives of Those Saying Prices Will Rise Read More »

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] According to national data, mortgage debt is piling sky high. At the outset of the pandemic, it is becoming clearer that individuals who have mortgage payments are experience debt-related anxiety. The majority of this debt in Canada come from the …

Mortgage deferrals with Canada’s Big Six now total $180 billion Read More »

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] Amid the global pandemic, Outgoing Bank of Canada governor Stephen Polz said that the bank will continue on. In fact, he said that the bank’s functioning was a key to keep the economy functioning and healthy. Ongoing …

Mortgage lending will remain stable despite the pandemic – Bank of Canada Read More »

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] The recent case where an Ontario resident faced extremely high mortgage penalty shows the ability that banks have to impose the strictest sanctions. When determining the penalty, most big banks use interest rates that are much higher than market rates. …

Are extreme penalties on borrowers an opportunistic scheme by the Big Six? Read More »

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] Canada’s National Housing Agency is preparing for price declines. Homeowners who have less than 20% down on their homes should expect lower debt service maximums and a ban on borrowing down payments. For most, these are positive …

Canada’s National Housing Agency Tightens Lending Ahead of Forecasted Price Declines Read More »

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] There are three things that could happen which would send mortgage rates lower. First, Bond Yields could fall to record low levels. Bond Yields are a reflection of the economic and inflation outlook. If the economic outlook is bleak, mortgage …

One of These Three Things Have to Go Wrong For Lower Rates Read More »

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] A slowdown in revenue from AirBNB may be boosting the real estate industry in parts of Canada, such as Toronto and Vancouver. This is because the travel industry is not projected to recover quickly after the global pandemic settles down. …

Toronto and Vancouver Real Estate Inventory May Get A Boost From AirBNB Slowdown Read More »

[et_pb_section][et_pb_row][et_pb_column type=”4_4″][et_pb_text] Moody’s are predicting a drop of at least 30% in Canadian real estate prices as a result of the ongoing pandemic. The model used to analyse the market looked at overall economic condition in Canada to come up with its conclusion. Canadian businesses are resorting big drops in revenue with one in five …

This Week’s Top Stories: Canadian Real Estate Prices Forecasted To Make Big Drop, and 1 in 5 Canadian Businesses Laid Off More Than 80% of Staff Read More »