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Posted by: Yen (Frank) Feng
Housing affordability is the number-one issue causing the significant decline in housing activity, adding to PM Justin Trudeau’s political problems. With the growing impact of unaffordable housing and the slowing labour market, activity in the real estate market should remain subdued for the rest of this year. Home sales dropped 5.6% month-over-month (m/m) in October–the fourth […]
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If you have a basement suite or rental property and you are currently looking for a tenant, there are some things to know. Whether this is your first tenant or you have other rental properties, it is a good idea to familiarize yourself with the specifics to ensure a harmonious tenancy. As always, your […]
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Today’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%), after rising 64,000 in September and 40,000 in August. The employment rate—the proportion of […]
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One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? A second mortgage refers to an additional […]
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Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in combination with the weak Business Outlook Survey released yesterday, suggests […]
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Mortgage rates continued to rise in September after BoC tightening and one of the largest bond selloffs in history. Yields have retraced some of their rise more recently, but demand for new and existing homes has slowed. According to data released by the Canadian Real Estate Association, national home sales declined 1.9% m/m in September, […]
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Are you thinking about co-signing on a loan? If you’re looking to help out a family member or loved one, this is a great way to do that as a co-signer can help overcome stress testing and borrowing limits. However, it is important to be aware of the implications when co-signing on any loan. 1. […]
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Another Strong Jobs Report Tests Bank of Canada’s Patience Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall employment were in part-time work, and total hours worked declined by 0.2%. Moreover, the unemployment rate held […]
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Here the 8 most common reverse mortgage questions that people in Canada have regarding reverse mortgages: 1. If I have an existing mortgage on the property, can I get a reverse mortgage? Not only is this the most common question regarding reverse mortgages, it is actually one of the most common uses for a reverse […]
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One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a SECOND MORTGAGE? First things first, a second mortgage refers […]
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