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How to Avoid Being House Rich and Cash Poor

How to Avoid Being House Rich and Cash Poor

How to Avoid Being House Rich and Cash Poor.  The term house rich and cash poor means you means housing costs take up most of your income your house takes up 30% or more of household income leaving you with an expensive house but little money for anything else.  You may already be in this […]

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Being a Responsible Borrower

Being a Responsible Borrower

If you are a first time home buyer and looking for a mortgage, you want to ensure you are being a responsible borrower.  The dream of most Canadians is owning their own home, and there is a great sense of pride and reward in home ownership.  There is not much pride in owning a home […]

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Should you get Pre-Approved for your Mortgage?

Should you get Pre-Approved for your Mortgage?

Should you get Pre-Approved for your Mortgage?  This is an important question but more important is understanding the pre-approval process and why it is important. Pre-approval may not be necessary for some, but can be very beneficial.  Here are some of the reasons it is a good idea.  Helps you determine how much house you […]

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Calgary ranks 3rd for world’s most resilient city

Calgary ranks 3rd for world’s most resilient city

According to the Resilient Cities Research Report by Grosvenor.com, a privately owned property group, Calgary ranks 3rd for world’s most resilient city.  What constitutes a Resilient City is the ability to thrive as centres of human habitation, production and cultural development, despite the challenges posed by climate change, population growth and globalization, is determined by […]

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BMO 5 year fixed mortgage rate reduced to 2.99%

BMO 5 year fixed mortgage rate reduced to 2.99%

The already popular Canadian mortgage rate, the 5 year fixed rate , is about to become even more popular.  Yesterday BMO lowered it 5 year low rate (closed) to 2.99%.    Other banks also have lower fixed mortgage rates with the Toronto-Dominion Bank  4 year fixed-rate mortgage to 2.97% earlier this month and Scotiabank offers a […]

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New thinking on BoC rate hike

Mortgage brokers are anticipating a particularly busy 2014 as clients look to move before the Bank of Canada does, although there’s new thinking on the timing of its long-awaited hike in the overnight rate. “The Federal Reserve calmed potential homeowners and investors by signalling it won’t raise the rate until the economy improves further, which […]

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Breaking News: CMHC CEO appointment

The minister responsible for Canada Mortgage and Housing Corporation (CMHC), Jason Kenney, announced today that Evan Siddall has been appointed president and chief executive officer of CMHC for a five-year term effective January 1. “Mr. Siddall brings to the position extensive leadership and senior management experience,” Kenney said. “His proven financial and capital markets expertise […]

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