"The latest stats out of Toronto show that the average price for a detached home in the city has passed the, hair-raising, $1 million threshold."- Brad Checknita, Account Manager (North and West Vancouver, Surrey and Delta)
Although mirror images of each other, when it comes to saving up for retirement it seems as if more people are leaning toward Tax Free Savings Accounts (TFSA’s) over the normal Registered Retirement Savings Plans (RRSP’s).
Self Employment is on the Rise Ever since the financial crisis of 2008, it’s been tougher and tougher to qualify for a mortgage in Canada. With the maximum amortization period now capped at 25 years, and housing prices reaching unaffordable levels in various parts of the country, many first time homebuyers are having to sit […]
June 14th, 2013 Last week, the Royal Bank of Canada (RBC) announced that they would be raising many of their posted mortgage rates. Some of the new rates were put into place on Monday and have had a significant effect on several mortgage products. The largest increase was on RBC’s 5-year closed mortgage, which went up
Over the course of the last five years, we have witnessed some pretty significant changes to the way that banks and lenders qualify borrowers applying for mortgages; most of these changes have been implemented to make it harder for borrowers to qualify. Gone are the days of $0 down payments, 40-year amortizations and overall lax
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