6 Sep

New mortgages surge to record high, raising red flag about HELOC growth

General

Posted by: Rejoice Fidelis-Mbah

New mortgages surge to record high, raising red flag about HELOC growth New home equity lines of credit jumped almost 57% to the highest level in a decade, says Equifax   House-hungry Canadians drove new mortgage volumes up to a quarterly high, soaring 60.2 per cent to more than 410,000 in the second quarter from […]

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3 Sep

Canadian consumer debt tops $2 trillion: Equifax Canada

General

Posted by: Rejoice Fidelis-Mbah

  Canadian consumer debt tops $2 trillion: Equifax Consumer debt in Canada topped $2 trillion this fall, driven largely by increased demand for mortgages and car loans, according to Equifax Canada. In its latest quarterly report, Equifax found total consumer debt rose 3.8 per cent to $2.041 trillion in the third-quarter of 2020 compared to […]

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11 Aug

Getting the Down Payment Down.

General

Posted by: Rejoice Fidelis-Mbah

Getting the Down Payment Down. A down payment is one of the most essential aspects of every mortgage application and new home purchase. In Canada, home purchases require a minimum cash payment from your own funds that is put towards the purchase. This is your down payment and is considered your stake in the deal. […]

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10 Aug

Canadian Job Growth Continued in July As Unemployment Rate Fell to 7.5%.  

General

Posted by: Rejoice Fidelis-Mbah

Canadian Job Growth Continued in July As Unemployment Rate Fell to 7.5%. Canada’s Jobs Recovery Continued in July  Canada’s labour market continued its recovery in July as health restrictions were lifted, but the gains were shy of expectations. The report signals the economic rebound is intact and shows companies are finding workers as pandemic restrictions […]

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9 Aug

The Mortgage Financing Process.

General

Posted by: Rejoice Fidelis-Mbah

The number one question for any potential homebuyer or someone new to the mortgage process is “what does this process entail?”. The following is a simple outline to give you an idea of the process and help you understand what to expect as you embark on your home buying journey! STEP 1 – Be Prepared […]

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