Mortgage news

Building your house-buying budget

In today’s market it’s tempting to max out your debt levels in order to get a mortgage at today’s low rates.  There are many things to consider before taking this leap in order to ensure future prosperity.  People who are renting for $1,500 a month cannot necessarily afford a $1,500 mortgage as there are extra costs that come along with home ownership (i.e., property taxes, heating, condo fees, etc…).  Home buying | Toronto Star file photo Read the following article here for more...Read more

Are Home Prices and the Real Estate Market Pointing to a Housing Bubble Crash?

Janet and I also went through the 1989 housing collapse.  We ended up losing $32,000 on a new townhouse condo. However, the opportunity to buy a new home in Waterloo became more affordable and we are still there today.    The price increases for homes in the Greater Toronto Area are reminding some of the boom seen in the late 1980s. (David Donnelly/CBC) I believe more of the story is that the Baby Boomers are holding on to their homes, instead of downsizing after they are...Read more