So many pessimistic reporters here have been telling Canadians it’s better to rent than own. Well, those people have been really quiet over the past few years given that rents have really taken off and housing prices have skyrocketed, leaving those that had purchased in a great equity position.Those that listened to the media “experts” have nothing to show except for record high rents and landlords that want to evict them because market rents have gone up by about 30% over the past 5 yrs.Continue reading “Is it cheaper to rent or buy?”
It is about time for some good news to be shared regarding the housing market and the mortgage industry. Luckily, one bank has stepped in to help make that happen. The bank has launched a new program that aims to help Canadians with financing a home. Great, right? I sure think so.
Let’s look at some of the highlights the program has to offer.
You may have seen or heard reports of pending fixed rate increases. The media loves to spread and focus on bad news more than good news. That’s the media for you, though.
This is your notice that fixed rates could go up over the next few weeks. Now that we have that out of the way, let’s talk about what you should do. Personally, I am doing nothing. I am keeping all my mortgages in a variable rate. The reasons are simple.Continue reading “Fixed rates going up? Should you be concerned?”
I’m a bit of a hypocrite. Whenever I go for a haircut, the gym or even to visit my dentist there’s a tv and it’s usually tuned in to a news channel. For the record, I don’t watch the news. I’m the guy that asks them to change the channel. I’m not interested in constantly hearing about how terrible the world supposedly is.
My take… if you want to be depressed, watch the news. If you want to be aware and alert, choose where you get your information.Continue reading “The Good News”
While average mortgage size and average real estate prices have gone up, interest rates have not. They’ve actually done the opposite. And they have gone significantly lower.
A $400,000 mortgage will cost you $1400 per month today. Compare this with $1682 per month from a few years ago. Or how about a payment of $2,182 per month From 15 years ago.Continue reading “How to benefit from record low interest rates”