Housing Inventory at Lowest Level in Over 10 Years Canada’s national housing supply is at the lowest levels seen in 12 years, according to the Canadian Real Estate Association (CREA). There were just 4.2 months of inventory left across the country at the end of November 2019—the lowest level recorded since the summer of 2007 […]

NOVEMBER DATA CONFIRM CANADIAN HOUSING REBOUND Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the ninth consecutive month and now stands a full 20% above the six-year low reached in February 2019. While the chart below shows that monthly home sales are now well above their […]

HOW TO VERIFY YOUR DOWN PAYMENT WHEN BUYING A HOME Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. To fulfill the conditions of your mortgage approval, it’s all about what you can prove (hard to believe – but some people have lied in the […]

HUGE DECLINE IN JOBS IN NOVEMBER AS JOBLESS RATE SURGES One month does not a trend make. Statistics Canada announced this morning that the country lost 71,200 jobs in November, the worst performance in a decade. What’s more, the details of the jobs report are no better than the headline. Full-time employment was down 38.4k, and the […]

2019 Closes Without a Bank of Canada Rate Cut The Bank of Canada’s overnight lending rate will end the year exactly where it started—unchanged at 1.75%. As was widely expected, the Bank of Canada decided once again to leave rates on hold as it continues to assess the need for monetary policy easing given a […]

BANK OF CANADA HOLDS STEADY AMID CONTINUED TRADE UNCERTAINTY The Bank of Canada maintained its target for the overnight rate at 1.75% for the ninth consecutive policy announcement, keeping the key interest rate stable for all of 2019. Today’s decision was widely expected as members of the Governing Council have signalled that the Bank is […]

Can You Qualify For A Mortgage After A Consumer Proposal? After you file a consumer proposal, the last thing on your mind might be a new mortgage, but you may be a lot closer than you think. Maybe you wish to buy a home, or you own a home and are interested in refinancing your […]

How Your Cell Phone Can Keep You From Getting the Lowest Mortgage Rate Despite what you may have heard, your cell phone payment history does affect your credit score. Cell phone accounts work differently than a credit card or a line of credit. A cell phone is an open or “O” account, which means the balance has […]

Debt on the Minds of Canadians Debt is hanging over the heads of a growing number of Canadians, with two in five saying they don’t expect to get out of debt in their lifetime. But mortgages—typically the largest debt of all—are the least of their worries. A new survey from Manulife Bank confirms concerns over the growing […]

5 MISTAKES FIRST TIME HOME BUYERS MAKE Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes First Time Home Buyers commonly make, and how you can avoid them and look like a Home Buying Champ. 1. Shopping Outside […]