Converting Your Basement to an Income Suite
With the current interest rates and economic scenarios, many Canadians may be looking for ways to bring in some extra cash. One option for this is to put your home equity to work and consider renovating your basement into a legal income suite! You can do this by using a ...
Economic Insights from Dr. Sherry Cooper – July 2023
Economic Insights – Canada Real Estate Market. The biggest surprise recently has been the unexpected interest rate hike by the Bank of Canada. While the April inflation headline did tick up, and Q1 GDP data came in at a stronger-than-expected 3.2%, the April labour force data showed some easing in ...
Appraisal Tips for Success
Before banks or lending institutions can consider loaning money for a property, they need to know the current market value of that property. The job of an appraiser is to check the general condition of your home and determine a comparable market value based on other homes in your area ...
Homeowner Insurance 101
Not all insurance products are created equal. It is important to understand all the different insurance products to ensure you have proper coverage. Below are the main insurance product options you will encounter with homeownership, and what they mean: Default Insurance: This insurance is mandatory for homes where the buyer puts ...
Economic Insights from Dr. Sherry Cooper – June 2023
It has been just over a year since the Bank of Canada started hiking interest rates. While the economy has remained surprisingly resilient, the housing market has weakened sharply. The Bank has remained on the sidelines for the past two Governing Council announcement dates, and home sales have edged upward ...
How to Pay Off Your Mortgage Faster
When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25-year amortization schedule, there are some ways you can pay off your mortgage quicker! Review Your Payment Schedule: Taking a look at your payment schedule can be an easy ...
Economic Insights from Dr. Sherry Cooper – April 2023
In March, the global economy was focused on systemic risk in the banking sector. Following three bank failures in the U.S., markets were roiled again by the forced sale of Credit Suisse to UBS. Interest rates have plummeted as demand for the haven of government bonds has increased sharply. Consequently, ...
Choosing Your Ideal Payment Frequency
Your payment schedule is the frequency with that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly, or even weekly payments. Below is a quick overview of what each of these payment frequencies means: Monthly Payments: A monthly payment is simply a single large payment, paid once ...
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