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6 Steps to Get Out of Bad Debt and Into Good Debt

Published on Thu, 19 Jul 2018 20:08:34 +0000

Everyone at one point or another gets a reality check that makes it clear that you’ve been a bit too free and careless with your finances …and it’s time to make a change. Debt is not necessarily a bad thing, but you want good debt, not bad. If that sounds familiar and you’re looking for a way to be a ... Read More

The post 6 Steps to Get Out of Bad Debt and Into Good Debt appeared first on Mortgage Talk Canada.

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CMHC makes announcement regarding self-employed borrowers

Published on Thu, 19 Jul 2018 19:00:13 +0000

Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage. The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers. Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing ... Read More

The post CMHC makes announcement regarding self-employed borrowers appeared first on Mortgage Talk Canada.

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Here’s what the interest rate hike means for the Canadian housing market, according to experts (Livabl)

Published on Fri, 13 Jul 2018 15:11:36 +0000

Yesterday, the Bank of Canada (BoC) hiked the overnight rate 25 basis points to 1.50 per cent, the fourth increase in the last 12 months. In its release, the Bank noted that the housing market seemed to be stabilizing, and would be able to weather the hike. Some economists agreed with the sentiment, while others argued that there is still ... Read More

The post Here’s what the interest rate hike means for the Canadian housing market, according to experts (Livabl) appeared first on Mortgage Talk Canada.

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Why is this Canadian housing price index moving upwards? One word: Condos (Livabl)

Published on Fri, 13 Jul 2018 15:09:57 +0000

A major Canadian housing price index rose for the third consecutive month in June, as the demand for condos continues to rise. The Teranet-National Bank Composite National Price Index jumped 0.9 per cent month-over-month in June, following a 1 per cent rise in May. “Condo prices have risen at a fast clip since the beginning of the year in Toronto ... Read More

The post Why is this Canadian housing price index moving upwards? One word: Condos (Livabl) appeared first on Mortgage Talk Canada.

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Vancouver’s one-two punch is expensive homes and low wages (BNN)

Published on Fri, 13 Jul 2018 15:07:20 +0000

Want to pay San Francisco housing prices on a Columbus, Ohio income? Move to Vancouver. While policymakers from Seattle to Boston lament a growing urban affordability crisis, a new study of home prices and earnings across more than 100 major U.S. and Canadian metropolitan areas shows Vancouver in an ignominious class of its own. The median cost of a Vancouver ... Read More

The post Vancouver’s one-two punch is expensive homes and low wages (BNN) appeared first on Mortgage Talk Canada.

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Canadian delinquencies will likely rise this year: Equifax (BNN)

Published on Tue, 03 Jul 2018 13:59:18 +0000

Canadian delinquency rates, which have been declining since the last recession, will probably reverse and begin to climb by the end of 2018 as the central bank presses ahead with interest rate increases, according to the country’s largest credit reporting firm. Regina Malina, senior director of analytics at Equifax Canada, predicts late payments on the country’s $599 billion of credit card, ... Read More

The post Canadian delinquencies will likely rise this year: Equifax (BNN) appeared first on Mortgage Talk Canada.

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Nearly half of Vancouver home purchasers are overshooting their home buying budget

Published on Tue, 03 Jul 2018 13:12:30 +0000

Vancouver is the most expensive city for residential real estate in the country and it’s forcing the city’s homebuyers to stretch their budgets to purchase homes in the hot market. In 2017, 48 per cent of homebuyers in Vancouver exceeded their budgets to buy homes, according to a recent Canada Mortgage and Housing Corporation (CMHC) survey, published last week. Meantime, ... Read More

The post Nearly half of Vancouver home purchasers are overshooting their home buying budget appeared first on Mortgage Talk Canada.

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Millennials are flocking to Vancouver despite the housing crisis, says UBC demographer

Published on Tue, 03 Jul 2018 13:10:42 +0000

VANCOUVER—Mountains and public health care are what led 34-year-old Katie Marshall to move to Vancouver this summer, at a time when the pervasive belief is that millennials are fleeing the city in droves. But Marshall is, in fact, one of thousands of millennials moving to the lotus land despite high housing prices. There’s a lot to love, she explained. “I’m ... Read More

The post Millennials are flocking to Vancouver despite the housing crisis, says UBC demographer appeared first on Mortgage Talk Canada.

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Don’t Save More Money, Ask for More Money!

Published on Tue, 03 Jul 2018 13:06:04 +0000

The most satisfying way of working towards a big purchase, a house, a car, a cottage, isn’t by taking a bigger slice of your income pie and putting it towards savings. It’s by making sure your pie is as large as possible and taking the same percentage out. Yes, it sounds obvious, and no one is says “No” when offered ... Read More

The post Don’t Save More Money, Ask for More Money! appeared first on Mortgage Talk Canada.

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The housing market is cooler and Canadians are taking on less debt — but there is one downside

Published on Tue, 26 Jun 2018 15:03:46 +0000

Canada has some of the highest household debt levels in the world, but last week a new report from Statistics Canada found that that could be starting to change. The country’s household debt-to-income ratio fell to 168 per cent in the first quarter of 2018, after reaching a historic high of 170.5 per cent in Q3 2017. “[The decline hints] ... Read More

The post The housing market is cooler and Canadians are taking on less debt — but there is one downside appeared first on Mortgage Talk Canada.

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