Do you need mortgage insurance?

It depends. As with all financial planning questions, no one answer fits every situation

Do you need mortgage insurance?“Did I need to take the insurance the bank sold me when I got my mortgage? Do I need mortgage insurance at all?” C.P. wrote and asked. I’m often asked this and the answer is usually the same: That depends. As with all financial planning questions, no one answer fits every situation. The simple answer in…

Village launched in Calgary for homeless vets

ATCO Village, a Homes for Heroes initiative, features 15 tiny homes, a resource centre, counsellor’s office, family suite and community gardens

Village launched in Calgary for homeless vetsThe first Homes For Heroes village, a housing initiative for homeless Canadian Forces veterans, has launched in Calgary. ATCO Village, in southeast Calgary, features 15 tiny homes, a resource centre, counsellor’s office, family suite and community gardens. Officials say a tiny home provides veterans with privacy, a sense of security, peer-to-peer support and the ability…

Calgary, Edmonton lead major markets for housing affordability

RBC report shows the proportion of pre-tax household income that would be required to buy a home across the country

Calgary, Edmonton lead major markets for housing affordabilityA new report by RBC Economics shows that Calgary and Edmonton are the most affordable housing markets of major centres in the country. The bank’s Housing Trends and Affordability report indicates that the two Alberta cities have the lowest percentage share of income a household would need to cover homeownership costs. The RBC Housing Affordability…

A clear-eyed look at the first-time home buyers aid program

Robert McLister, managing editor of Rates.ca, talks about the pitfalls of the government program and why fewer Canadians are likely to take part than anticipated

A clear-eyed look at the first-time home buyers aid programRobert McLister is managing editor at Rates.ca. What is Rates.ca? McLister: Rates.ca compares insurance, mortgages and credit cards from dozens of companies across Canada. By juxtaposing numerous providers, it's easier for consumers to quickly compare terms and find the best prices. How does the new down payment assistance program for first-time homebuyers work? McLister: The…

Canada’s multifamily housing market robust: report

Vacancy rates below 10-year average, rents on the rise: CBRE

Canada’s multifamily housing market robust: reportCanada’s multifamily housing market is the most robust it has ever been, , according to CBRE’s new Canadian Multifamily Mid-Year Update. Apartment buildings are practically full from coast to coast and rental rates are at or near 10-year highs in almost every market, according to CBRE. The commercial real estate firm’s report said the national…

Making home buying and selling as painless as possible

Ryan Mracek of Keylo wants the online realtor referral service to be the place consumers go to get unbiased, data-based real estate advice

Making home buying and selling as painless as possibleRyan Mracek is owner of Keylo. What is Keylo and what does it do? Mracek: Keylo is Canada’s largest realtor referral service. We use an evidence-based approach to find the best realtor to buy or sell your home for free. We put the odds of success in your favour in an industry notorious for holding…

Keeping a keen eye on the housing market

Andie Daggett of Urban Analytics provides a precise snapshot of Calgary's rental market vacancies and rates, and offers a market forecast

Keeping a keen eye on the housing marketAndie Daggett is manager of rental market data (Alberta) for Urban Analytics. What is Urban Analytics and what do you do? Daggett: Urban Analytics is a real estate based market research and advisory firm. We track all of the new multi-family home and purpose-built rental projects in Vancouver, Calgary and Edmonton. Half of our business…

Cash-strapped Canadians using homes as ATMs to pay off bills

Overall consumer credit balances continued to grow in the second quarter – up to $1.88 trillion

Cash-strapped Canadians using homes as ATMs to pay off billsCash-strapped Canadians may be treating their homes like ATMS to pay off their bills, says a study by MNP Ltd. In a news release on Tuesday, the largest insolvency firm in Canada said three in 10 Canadian homeowners with a home equity line of credit (HELOC) say they have used the funds borrowed to pay…

Canadian household credit growth slows for second straight month

But Scotiabank report says total borrowing by individuals rose by 3.7% month over month

Canadian household credit growth slows for second straight monthCanadian household credit growth decelerated in June as the slowing pace of mortgage expansion more than offset an acceleration in consumer credit, according to a new report by Scotiabank Economics. Home equity line of credit loans (HELOCs) remained flat in June, remaining on a weaker trajectory following strong increases through 2017 and 2018, it said.…

Calgary real estate market heating up: report

City could be classified as a sellers’ market in July, along with half of the nearby municipalities: Zoocasa

Calgary real estate market heating up: reportAfter several years of quieter real estate demand and activity, it appears Calgary and surrounding regional markets are in store for an uptick, says a report released on Wednesday by real estate technology firm Zoocasa. A hotter pace is already noticeable in the Calgary real estate market, said the report. “According to new analysis by…
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