Future homeowners can find a variety of finance tools and calculators online. But are those tools helpful?
Homeowners with mortgage debt paid down an average of $6,300 in the past year.
As interest rates rise, consider helping clients stress-test their mortgages and budget plans.
The affordable single-family home in Vancouver is a dying relic, says real estate expert.
Wealthy Canadians’ primary residences are currently worth upwards of $1.5 million, on average.
The majority of Canadians (74%) would opt for a medium-term or longer-term mortgage if they were to acquire, refinance or renew a mortgage today, according to a CIBC poll. That includes 27% who think now is the time to look beyond the traditional 5-year fixed mortgage for a term of up to 10 years.
More than a third of Canadians surveyed say not having enough money actually keeps them awake at night.
Effective June 1, 2015, Genworth Canada will increase its mortgage insurance premium rates for homebuyers who have less 10% of their down payments.
More than half of Canadians (57%) are locking in mortgages at today's low interest rates.
Canadians of all ages increased their debts by 2.3% in the last three months of 2014, raising total average indebtedness to $21,428.