Newsletters
December 2016
The Bank of Canada is holding its benchmark interest rate at 0.5 per cent
OTTAWA — The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty. In making the scheduled announcement Wednesday, the central bank said its decision….
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November 2016
The effects of the Mortgage Stress Test
On October 17th, new housing policies were announced by the federal government and they have left many Canadians unclear about how the changes have affected them….
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October 2016
How you can save by switching to bi-weekly payments
One way of saving hundreds of dollars on your mortgage is by switching your payments from monthly to bi-weekly. The bi-weekly payment plan is a common method of mortgage acceleration in which half of the…
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August 2016
Making your home more energy-efficient could mean more money in your pocket
Energy-efficient homes can increase comfort and promote healthier living, while reducing greenhouse gas emissions and lowering home expenses.
Canada Mortgage and Housing Corporation (CMHC) is upgrading…
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June 2016
Strategies for house hunting during peak home-buying season
As March turns into April, the Canadian real estate market can catch spring fever. First-time homebuyers face intrinsic challenges when it comes to house-hunting during peak home-buying season. There’s plenty of competition…
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May 2016
Michael Campbell: Canada’s Residential real estate market
The following is an excerpt of the Economic Update for Q2 2016 released by VERICO’s Economic Consultant Michael Campbell.
At last count I’ve seen or heard 2,463 warnings since 2012 about
the coming collapse in Vancouver and Toronto’s housing markets.
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April 2016
Federal Budget Highlights for 2016 – 2017
On March 22 some of the highlights of the federal budget were tabled Tuesday by Liberal Finance Minister Bill Morneau:
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March 2016
Better days ahead for the dollar?
A number of economists are reporting that the Canadian dollar’s slip has ended and will likely end the year at a higher mark than it is today.
CIBC World Markets reports “With Canadian monetary policy taking a backseat to fiscal stimulus, Fed rate hikes being delayed until later
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February 2016
What’s coming for Canada’s economy
This month, VERICO economist Michael Campbell gave us an overview into the current state of the Canadian economy and what you should be aware of.
Below is an except from Michael’s report.
“After continually underestimating the impact of falling…
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January 2016
How you will be affected by new downpayment rules
If buying a home is on your list of to dos for 2016, then you may be affected by the new downpayment requirement rules announced by Finance Minister Bill Morneau.
As of February 2016, you will need to have 10% downpayment…
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December 2015
Taking Control of Your Money in 2016
With talk about the climbing real estate prices, a recovering global economy keeping investment analysts cautious and the decline in oil prices, it is challenging for the average…
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November 2015
How to do a Reno when you’ve maxed out on your down payment.
If you are in the market to buy a new home – don’t overlook that fixer upper!
For many first time home buyers, they face the duel challenge of not having a big down payment and higher home prices. Often, the only homes that younger buyers can afford are ones….
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September 2015
Should you switch to a variable mortgage?
The Bank of Canada cut its over night rate from 0.75% to 0.5% on July 15 making for even more attractive mortgage rates.
Experts are predicting that this may further stimulate the real estate market with more consumers being able to qualify for a mortgage.
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August 2015
Reverse Mortgages in Canada– Good or Bad? You Might Be Surprised
Do you know there is only 1 reverse mortgage provider in all of Canada?
Do you know they became a schedule 1 bank in late 2009?
Do you know how much the program has evolved and improved?
With nearly 30% of the Canadian Population in retirement…
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June 2015
Dreaming of a new fire pit? A deep soaker tub? Talk to me!
With summer on its way, lots of families have renovations on their minds. Did you know that home buyers can apply for a Purchase Plus Improvement Mortgage and get access to funds for renovations?
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February 2015
Lower Rates to Boost Buyer Confidence
A major Canadian bank has lowered its five-year fixed mortgage rate – and others are expected to follow suit – but some agents believe that won’t have much of an impact on how the housing market performs in 2015. “I don’t believe a quarter-point will make a significant difference,” says Justin Kua, a real estate agent in Toronto.
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Oct 2014
Big Bank Predicts Rate Hike
The end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate.
“Firming price pressures and strengthening labour markets are consistent with…
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Sept 2014
Happy Labour Day!!
Labour Day in Canada is celebrated on the first Monday of September and it is a federal statutory holiday. It is also observed in the United States on the same day. However, many other countries celebrate Labour Day on May 1st.
This holiday officially celebrates workers and the labour union movement…
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August 2014
Fun Outdoor Activities to Do in British Columbia
British Columbia is a land of active vacations, with options to suit everyone from reluctant weekend warriors to hard-core athletes.
1. Camping – BC boasts a huge variety of camping facilities: 7 national parks, almost 900 provincial parks and protected areas, more than 1,200 recreation sites, and hundreds
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July 2014
7 Ways to Save Money
Many Canadian families are working hard to save money and reduce debt. By saving modest amounts, however, you can reap big rewards over time. Here are easy ways you can save $100 or more this year.
1. Plug into Bargain Electricity
Are your electricity bills excessive? Maybe you’re using too much power at peak hours. For instance, try running your dishwasher at night, rather than during the day…
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June 2014
Tips to Consider Before Buying a Home
You are about to invest in your most valuable asset. Below are our top 8 recommendations to make you more confident as you start your home buying journey.
- 1.Your Credit Rating Getting your finances in order is probably the most important step you should take. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms…
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February 2014
Last Minute RRSP Contribution Tips
(NC) In a perfect world, investors would contribute to Registered Retirement Savings Plans on a regular basis to make sure enough money is in place when they need it. But with family, jobs, bills and unexpected expenses popping up, sometimes investing gets put on the back burner.
“Many investors are well aware of the importance of financial stability during retirement,” says Don Reed, president and CEO of Franklin…
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October 2012
House Hunting: Finding the Right Fit for You
With so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:
Look Inside
What do you already own that your new home would need to accommodate?…
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August 2012
The Renovation Contract
One of the major reasons for disputes over renovation work is the lack of a contract. The best way to avoid this is to draw up an agreement describing the work to be done and the cost of this work. This contract becomes a legal document, binding both parties once they have signed it. Don’t sign anything until you are fully satisfied it describes exactly what you want and contains everything you have agreed upon….
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July 2012
How to Find a Builder or Realtor?
Builder or Realtor
Often, when buying a new home, you’ll deal with a builder/contractor. If you’re buying a resale home, however, you’ll probably encounter a realtor. Below are some tips and advice for finding a reputable realtor or builder...
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May 2012
Financial House Cleaning for Couples
(NC)—Now that the tax season is over, how did you and your significant other do? Were you faced with tax bills or did you receive a refund? If you both had a less than spectacular financial year, don’t be discouraged. Mid-year is a great time to review your financial situation and resolve to make changes now to ensure you’re in a better position next year. Here are some ideas that can help you both max out on the good and reduce the bad…
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April 2012
Understanding Your Mortgage Options
Congratulations! You’ve decided to begin your search for a new home, or perhaps you’ve already found the home of your dreams and are ready to make an offer. It’s now time to consider your mortgage options. But with so many different choices available, how can you select the right kind of mortgage for your needs? To help you make an informed
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October 2011
The Financial Implications of Living Longer
It’s a fact that Canadians are living longer today than ever before and while this is great because we’ll have more time to spend with loved ones—it’s a bit alarming from a finance and savings perspective.
Data suggests that retirement years have stretched from 13 to 20 years — or a 54% increase. This means that a proportionate…
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September 2011
How to Save on your Fall Home Improvement Projects
(NC)— The Government of Canada has renewed the ecoEnergy Retrofit — Homes Program from June 6, 2011 until March 31, 2012. What does this mean? Homeowners tackling renovations may be eligible to receive grants of up to $5,000 when incorporating more energy-efficient solutions…
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August 2011
How to be Mortgage Free Faster
Think your house is comfortable now? Imagine walking through the door knowing that you never need to make a mortgage payment again. In addition to the satisfaction of being mortgage free, paying off your mortgage faster can save you money by reducing the interest you pay...
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July 2011
Parents are the best financial role models for kids
When thinking about those important lessons you must pass on to your children, parents don’t often consider money management skills. But lessons about the value of a dollar, saving and investing shouldn’t be left to chance. Children’s attitudes about money develop early in life…
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June 2011
Add money to your wallet and enjoyment to your life
We all love to save money, but most of us don’t enjoy penny–pinching or sacrificing to do so. Luckily, there are many ways to generate significant savings…while actually increasing the enjoyment in our homes and lifestyles…
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April 2011
Taking the edge off the formal living room: how to make it comfortable and luxurious
There’s no need to drain one’s bank account or energy reserves to create a living room that provides the kind of livable luxury we could all use. Louis XVI formality and matchy-matchy…
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February 2011
New Mortgage Rules Introduced in 2011
On January 17, 2011, Minister of Finance, Jim Flaherty, announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support...
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January 2011
Budgeting for Interest Rate Hikes
Interest rates, near historic lows for much of the past two years, are widely expected to increase through the latter half of 2011. The cost of carrying debt, including mortgages, lines of credit and…
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December 2010
Goal Setting Keeps Resolutions on Track
January is a popular time of year to set resolutions for physical fitness, personal finance or new career directions. But with the declaration of failed resolutions in February…
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October 2010
Down Payment Options and Pre-Approvals
As a first-time home buyer, you probably have many questions, including the right down payment amount and whether you’ll be approved for a mortgage…
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September 2010
10 Worst First-Time Homebuyer Mistakes
Are you gearing up to buy your first place? Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign…
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August 2010
Dealing with Mortgage Payment Difficulties
When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan you can work together with your mortgage professional…
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July 2010
Second Mortgage Loans vs. Home Equity Loans
It’s not surprising that some homeowners confuse the terms “second mortgage” and “home equity loan.” After all, a second mortgage is a type of home equity loan. But more often than not, home equity loan is used to describe a home equity line of credit, or HELOC. If you want to take advantage of the equity that you have built up in your home, you will need to…
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June 2010
House Hunting: Finding the Right Fit for You
With so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:
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March 2010
Establishing Credit History
In order to purchase a home, you must have an established credit history.
Each time you pay a bill (for your credit card or for a monthly service such as your telephone or electricity); you are establishing…
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February 2010
A Shift in First-Time Homebuyer Demographic
The demographics of the typical first-time homebuyer are changing these days.
More and more women today can afford to purchase a property on their own to build up valuable equity and are no longer waiting to find a life partner before …
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January 2010
Ice-Proof Your Attic (and Keep Winter Out of Your Home!)
If you’re like most people, you probably don’t spend much time in the attic.
In fact, the vast majority of Canadians go up to their attics only when dealing with a leaky roof or “animal intruders” like bats or squirrels…
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October 2009
House Hunting: Finding the Right Fit for You
With so many choices and variables, how do you find the perfect fit? Before you start your search, it’s a good idea to narrow down the playing field by looking at what would fit you best. Here’s where to look:…
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September 2009
Finding, Fixing and Flipping Homes
Flipping houses is a hot topic these days. Here are 10 tips to help you find the perfect flip from HGTV’s The Big Flip renovator’s John Stassen and Randy Mackay.
1. Find properties that are diamonds in the rough – homes that are rundown in comparison to those around them – as these…
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August 2009
The Renovation Contract
One of the major reasons for disputes over renovation work is the lack of a contract. The best way to avoid this is to draw up an agreement describing the work to be done and the cost of this work. This contract…
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July 2009
HOW TO FIND A BUILDER OR REALTER?
Often, when buying a new home, you’ll deal with a builder/contractor. If you’re buying a resale home, however, you’ll probably encounter a realtor. Below are some tips and advice for finding a reputable realtor or builder..
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June 2009
FIVE TIPS ON SELLING IN A SLOW MARKET
Selling a house in a slow real estate market can be difficult. In times like these, it’s not enough to simply list your home and wait; you actually have to sell your home. Here are five tips…
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