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.
Continue reading “Some Things Never Change: What We Can Learn From the Past”
Higher interest rates are causing a lot of problems for homeowners. Not just in terms of being able to purchase a home – but also in terms of being able to sell the existing one. Unfortunately, this is a problem I’ve been getting far too many calls about these days. Finding a new home is really only half the battle. Selling your current home to complete the transaction is the real challenge, especially in this market.
It’s easy to feel stuck when you’re in this situation. Luckily, with the right people and the right guidance, there’s always a solution. Here’s an example of a client we were able to get out of a pretty tight corner.
Continue reading “Problem & Solution: I Bought A New Home, But Haven’t Sold My Old One”
The pandemic was a scary time for landlords. You may remember Premier Doug Ford essentially telling Ontarians in March 2020 that they wouldn’t be evicted if they didn’t pay rent. For corporate investors, this announcement was damaging. For small investors, it was downright disastrous.
Continue reading “Right Now is the Right Time to Buy an Investment Property”
The last few months have been tough to say the least. Variable rates are at their highest levels in 20 years. The prime rate has gone up 4.25% in less than 12 months. Every Bank of Canada announcement feels like it could be another 50 point jump. If you’re a homeowner, it’s seemingly never ending. The news certainly doesn’t help you feel otherwise. But if you take a look at what’s happened in the past, you’ll see that the time we’re in isn’t so unprecedented. We’ve been here before and we’ve gotten out of it – and I believe we’re doing it all over again.
Continue reading “Is This the End of Rate Hikes?”
At work, on Twitter, on the news – wherever you are, it seems like everyone is talking about home prices plummeting. That’s the big headline. It’s a neat and tidy story that seems to make sense on the surface: home prices skyrocketed. Then rates went up. Then home prices started slipping. It’s the kind of story that gets clicks and sells newspapers. But if you look beneath the surface you’ll see the full story – one that’s a lot more optimistic, and one that the media often fails to report.
Continue reading “The News Says Home Prices Are Falling… But Are They?”