What are the real effects of the mortgage changes?

What are the real effects of the mortgage changes?

It’s been a week since the new mortgage rules took effect, and it seems the biggest concern for Canadians revolves around the new qualifying requirements for new insured mortgages (less than 20% down payment). Borrowers must qualify based on the Bank of Canada’s...
Bank of Canada keeps rate low, economic growth too slow

Bank of Canada keeps rate low, economic growth too slow

The Bank of Canada announced this week that because of slow economic growth in Canada, they were keeping their overnight rate at 0.5%. The rate has remained unchanged since July 2015. “Looking through the choppiness of recent data, the profile for growth in Canada is...
4 ways to take care of your lawn before winter arrives

4 ways to take care of your lawn before winter arrives

As the weather cools, it feels like winter is around the corner. In some parts of the country, snow has already arrived, even in southern Alberta. Luckily, that snow is gone now, but it reminded us that we have work to do before our yards are ready for winter. Here...
Ottawa tightens mortgage requirements

Ottawa tightens mortgage requirements

The federal Ministry of Finance office announced and released changes to the mortgage industry. Starting 17 October 2016, borrowers who take out insured mortgages that are fixed-rate loans of 5 years or longer will be subject to a more stringent “stress test”....

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