home owners News and Articles | My Blog
Canada's banking regulator loosens mortgage stress-test rules. Who will benefit?
11/25/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders.
... MoreCanada's mortgage renewal wall: A 'headwind' but not a crisis
11/14/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
BMO economist predicts homeowners can absorb higher mortgage rates
... MoreHomeowners won't face mortgage stress test if renewing with new lender: OSFI
9/26/2024 | Posted in Home Owners by Paul DeAdder
Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress ... More
Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?
... MoreInterest rate cut welcome news for homeowners with variable-rate mortgages
9/5/2024 | Posted in Mortgage Interest Rates by Paul DeAdder
Real estate experts say the Bank of Canada’s third consecutive interest rate cut is welcome news for variable-rate mortgage holders, but it could still be some time ... More
Where are the most mortgage-free homeowners in Canada?
5/30/2024 | Posted in Home Owners by Paul DeAdder
A recent study on Statistics Canada data shines light on trend
... MoreNew mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages ... More
Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem
11/1/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More
Most Canadian mortgage holders facing big payment shock: RBC
10/31/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More
10/18/2023 | Posted in Home Owners by Paul DeAdder
Police forces and legal experts in Ontario are pushing for the provincial government to make legislative changes that would reduce elaborate fraud scams targeting ... More
Homeowners brace for mortgage payment shock amid higher-for-longer rate outlook
10/2/2023 | Posted in Home Owners by Paul DeAdder
With interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain ... More
Mortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More
Cities worry COVID-19 could shatter their budgets
3/27/2020 | Posted in Home Owners by Paul DeAdder
It's very likely that COVID-19 will shatter Ontario's municipalities' budgets, and without provincial or federal help they will have no option but to increase the ... More
Homeowners' spending on renovations falls to 6-year low
6/5/2019 | Posted in Home Owners by Paul DeAdder
Canadian homeowners continue to cut back on home renovation spending in 2019: CIBC Poll
... MoreThese renovations will boost appraisal values the most
4/30/2019 | Posted in Home Sellers by Paul DeAdder
Homeowners wanting to maximize the appraisal value of their home should think about outside space.
... MoreCanadian homeownership rates still among highest globally
3/6/2019 | Posted in Canadian Housing Market by Paul DeAdder
Homeownership rates in Canada remain among the highest in the world despite housing affordability concerns across the country, according to the Royal Bank of Canada (RBC).
... MoreCanadian Rental Rates Rise At Fastest Pace In 30 Years
3/3/2019 | Posted in Canadian Housing Market by Paul DeAdder
The cost of rental housing jumped by the most in 30 years in January, according to Statistics Canada data.
... MoreMortgage renewals have entered a new era
11/6/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher ... More
7/27/2018 | Posted in Home Owners by Paul DeAdder
Canadians spent nearly $78bln on renovations last year, but a slower sales cycle could impact that figure.
... MoreReverse mortgage: Is this the solution if you retire cash-poor?
7/18/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
A reverse mortgage can be a solution for some cash-strapped retirees, but it comes at a steep cost.
... MoreCanadian homeowners trim spending on home renovations in 2018
6/1/2018 | Posted in Home Owners by Paul DeAdder
Spending drops as much as 25 per cent in some provinces as more homeowners focus on wear and tear.
... MoreMillennials driving Canada's hot real estate market
5/9/2018 | Posted in Canadian Housing Market by Paul DeAdder
Almost six in 10 Canadian millennials are already homeowners, with more of this age group planning to buy a home in the next two years, according to a Genworth Canada survey ... More
5-year mortgage holders, brace yourselves
1/19/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
The Bank of Canada’s decision to raise its benchmark rate to 1.25% earlier this week will make renewals a significantly more daunting prospect for mortgage holders.
... MoreForeign buyers a minuscule portion of housing market: CMHC
12/21/2017 | Posted in Foreign Buyers by Paul DeAdder
Foreign buyers make up a minuscule portion of the overall housing market in this country, new research shows, but what they own is more expensive and newer than the average ... More
Home values boost Canadian family net worth
12/8/2017 | Posted in Financial Health by Paul DeAdder
Canadian families increased their net worth by 14.7% in the four years from 2012-2016 according to new data from Statistics Canada.
... More3 in 10 Canadians consider themselves debt-free while carrying a mortgage
11/24/2017 | Posted in Mortgages and Real Estate by Paul DeAdder
More than half of Canadians say they have good knowledge of debt management, yet many Canadians who hold a mortgage don’t believe they’re in debt at all.
... MoreAlmost half of Ontario homeowners expect their home to fund retirement
9/27/2017 | Posted in Ontario News by Paul DeAdder
A large share of homeowners in Ontario are counting on home values increasing to ensure they have sufficient retirement funds.
... MoreWhy people are turning to their phones for mortgage advice
8/25/2017 | Posted in Mortgages and Real Estate by Paul DeAdder
“Hey Siri, what’s the best mortgage rate?”
... MoreGTA sellers face a refresher course in economics
8/25/2017 | Posted in GTA Real Estate by Paul DeAdder
The basic lesson: A property is worth what a buyer is willing to pay
... MoreRefinancing is driver of new loans growth: CMHC
8/9/2017 | Posted in Mortgage News by Paul DeAdder
The number of new mortgages continued higher in 2016 but the share of first-time buyers slipped, CMHC says. The crown corporation reports that there were just over 1 ... More
