Well, here we are again. Right back where we were last year. Provinces across the country have reintroduced restrictions that will no doubt leave a lasting impact on our economy. The housing market of course is no exception.
In my estimation, there will be quite a few similarities between our current situation and the one we faced last winter. However, there are some ways in which this lockdown could prove slightly different.
Continue reading “Will Lockdowns Have an Impact on the Housing Market?”
For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret ever buying a home.
It’s December. None of that has happened.
Continue reading “Surprise, Surprise: No Rate Hike From Bank of Canada”
My father keeps the news on constantly. It’s like an addiction, and CP24 is his drug of choice. It hurls bad news all day and all night. Not because it’s helpful, or even that interesting – but because it keeps his eyeballs on the screen. My father isn’t alone. CP24 and other 24-hour news sources are tattooed onto screens across the country.
Unfortunately, a lot of that bad news has to do with the housing market. It seems as though there’s a constant parade of “experts” telling you that we’re in a bubble. To sell now and rent until the market corrects itself. To avoid “risk” and go with a fixed rate mortgage.
This last myth in particular has gone viral and needs to be dispelled.
Continue reading “What Nobody Is Telling You About Fixed Rate Mortgages”
You might have seen the headline “HSBC crushes mortgage records with 0.99% variable rate”. No doubt about it, this is a great rate. However, it’s not for everybody. It is important to remember, like most deals, there are some restrictions. Among other things this offering is limited to high-ratio mortgages with a downpayment of less than 20 per cent. The reality is a higher interest rate may apply for non-owner-occupied properties, amortizations greater than 25 years and other exceptions to standard lending guidelines.
Continue reading “Because not everyone fits into the same box”
As a follow-up to my previous post on Cash Flow, I wanted to dig deeper into how we can help, as well as the good and bad around some of the relief programs being offered.
First, How can we help? We are finding that many of our clients are able to save by refinancing their debts into one low payment.
Continue reading “How can we help?”