CanadaMortgageNews.ca

Multigenerational Housing: What We Can Learn From the Old Country

Parents are helping their adult children buy homes now more than any other time in history. It makes sense: housing is unaffordable, so why wouldn’t baby boomer parents help lighten the load? There’s a similar trend picking up steam however that’s a little more surprising: parents and children buying multi-unit homes together.

It makes a ton of sense if you think about it. Two or three unit homes could solve a lot of problems for multigenerational families. Interestingly enough, as novel as it sounds, there’s nothing new about this idea. In fact, it’s been happening in Europe for centuries.

Posted 3 weeks ago1 Comment Bank News

Exclusive Insights From a Former Bank of Canada Governor

It’s not everyday you get to sit on a video call with someone who used to run our country’s central bank. So when I was invited to be a part of a remote session with former BoC Governor Stephen Poloz, I made sure to take down as much as I could to share with you. Here’s what he thinks about inflation, interest rates, and what’s happening in Canada.

Posted 1 month ago1 Comment Bank News

Home Prices Heat Up Despite High Interest Rates

Some weird stuff is happening in the world of real estate. As you likely know, the Bank of Canada has steadily raised interest rates over the past year in hopes of cooling inflation. This was also supposed to cool the housing market. Conventional wisdom dictates that higher rates would result in more mortgage defaults, more housing supply, and lower home prices. Oddly enough, none of that is happening.

Posted 2 months ago3 Comments Bank News

Free Money Will Cost Canadians

There’s one reason and one reason only that rates have skyrocketed by 4.25% in less than 10 months: inflation. The Bank of Canada has made it their mandate to bring inflation down to 2% – a far cry from the peak at 5.9%. Their plan is to jack up rates so that people will have less disposable income. The idea is that less disposable income will lead to less personal spending. Less personal spending will lead to lower demand for goods. Lower demand for goods will eventually lead to lower prices on those goods.

Essentially, for this plan to work, Canadians need to spend less money. It’s as simple as that. So why in the world does the Prime Minister keep giving Canadians more money to spend?

Rental properties as a secure long-term investment

Posted March 3, 20231 Comment Mortgage Tips

Some Things Never Change: What We Can Learn From the Past

I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying just wasn’t adding up.