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If you are a Canadian considering buying a home, then you may have heard about the changes in mortgage rules which became effective in January 2018. Here is a look at the major ones which will impact you directly if you were thinking about going for a mortgage: All uninsured mortgages will have to go…

More and more Canadians are getting into self-employment or working on a contractual basis.  Recent statistics indicate that almost 23% of all income earners in the country are self-employed or survive on part time jobs. Unfortunately, it is not always easy for them to be approved for a private mortgage loan. Most self-employed individuals pride…

The most important question for borrowers at this particular time is if the rates will increase within the year and if so, by how much? Since most Canadians prefer the five year fixed rate mortgage, here is a brief look at the trend currently: The rates for the five year fixed  mortgages tanked below the…

Moving ahead financially is nearly impossible if you are in debt. Debt is like a heavy ball tied to your leg which makes it impossible for you to make any headways as far as your finances are concerned. But the good news is that you are not the first person to find themselves in debt,…

Several countries in the world are advocating for a wage increase, and whereas this is a good thing for the individual employees, companies and businesses don’t share the same joy every time there is an increase in wages. In the United States for instance, the minimum wage was increased to $15/hour, while in Toronto, the…

Most Canadians looking forward to acquiring mortgages have become aware that the rules have changed, and the noose has become tighter as far as qualifying for mortgages is concerned. The regulations that took effect beginning January 2018, have completely altered the playing field, and if you were considering opting for a mortgage anytime soon, here…

Are you ready to opt for a mortgage? Or are you a homeowner looking forward to renewing their mortgage or upgrading your home to something bigger and better than what you have at the moment? Well, don’t just think it will be smooth sailing. The year is 2018, and the mortgage rules in Canada just…

REITs have been recording all all-time highs, and the question that most real estate investors are asking is whether it is the right time to leave the sector or to hold on for just a little longer. Due to rising bonds, the publicly traded real estate sector in Canada seems to be at its peak,…

From 1st January 2018, any Canadian seeking mortgage from a federally regulated lender will be subjected to a mortgage stress test before they are granted the lending facility. It implies that mortgage seekers will now have to qualify for BOC’s 5-year benchmark rate for the conventional mortgage or qualify at +2% if the rate is…

Players in the investment community and the financial media are always keen on interest rates. Every time there is a change in the rates, whether positive or negative, the effects are not just felt by those who are directly involved, but they tend to ripple across the entire economy. Though it may take some time…