In hot real estate markets, it’s common for both buyers and agents to consider having no subjects to financing when making a purchase offer. It’s important to realize, however, that no professional is in a position to legally advise you to enter into a real estate transaction with no subjects, especially no subject to […]

Okay so you have a mortgage. Let’s face it, it’s a contract with terms, conditions, rights and obligations for both you and the lender. However, now for whatever reason you need or want to break the contract before the end of the term. Many mortgage lenders will allow this provided they are compensated. You have […]

Real gross domestic product (GDP) for July was posted at an better-than-expected 0.3 percent, confirming that the economy rebounded in the third quarter from the contraction in the first half of the year. Although oil prices remain depressed and commodity prices in general have fallen, the economy has been bolstered by the fall in the […]

A new study points out the greatest affordability crisis for renters tends to be the suburbs, where home prices have soared… Full Article from Canadian Real Estate Wealth

As we head into the busy, autumn, real estate season Canada’s housing market is showing itself to be largely balanced and stable. Of course Vancouver and Toronto continue to exert undue influence on the national averages. In Toronto the average price of a detached, single-family home topped one million dollars again. In Vancouver, August sales […]

Rent to Own, Lease to Own, R2O. They may seem like good options, but watch out for these pitfalls. They are a good program as long as you have a mortgage planner ensuring you are following a plan to succeed. Rent to Own…what you NEED to know. My guess is you might check this option […]

FOR IMMEDIATE RELEASEMedia Relations613 782-8782Ottawa, Ontario15 July 2015 The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Total CPI inflation in Canada […]

Someone recently asked if I could describe the various penalties associated with breaking a mortgage prior to the maturity date. Generally speaking, lenders usually use a 3 month interest penalty, or an Interest Rate Differential penalty (IRD). The penalty for breaking a fixed rate mortgage is usually the greater of 3 months interest, or the […]

Canada lost 6400 jobs in June, with the unemployment rate stable at 6.8%.  Economists had expected a weak employment report for June on the heels of the larger-than-expected gain in May. Canadian employment fell by 6,400 last month as the biggest decline in part-time work in more than four years dwarfed gains in full-time positions. […]

HIGHLIGHTS OF THE WEEK Canada •    After last week’s news that Canada’s economy contracted in Q1, Friday’s positive job reports in both Canada and the U.S. helped underpin another leg up in bond yields. The Loonie didn’t gain any ground, however, as U.S. dollar strength ruled the day. •    Earlier this week, Canada’s smaller […]