Barrie housing market is showing signs of overheating.
The City of Barrie’s housing market is showing signs of overheating, again! This could be good news for home sellers who may not be immediately buying another home or those buying in a lower priced location. It may not be favourable for those who are planning to stay within the city or First Time Buyers. […]
What to do if you are going to miss a mortgage payment.
Don’t fret if you are going to miss a mortgage payment. Life happens and your mortgage company can be sympathetic. For the majority of mortgage borrowers, missing a single mortgage payment is not a concern. But have you ever wondered what would happen if, for some reason, you couldn’t make your payment? Below I’m going […]
The Bank of Canada interest rate was held today.
The Bank of Canada made an interest rate announcement today. They said that it will hold its target overnight interest rate at .25% for deposit rates and .5% for bank rates. It stands by its projection that interest rates are likely to begin to rise in the second half of 2022. The Bank is also […]
Canada Greener Homes Grant
The federal government of Canada announced the Canada Greener Homes Grant. This grant helps home owners make their homes more energy efficient, save on utility bills and contribute to the fight against climate change. Our homes account for 18% of Canada’s greenhouse gas emissions. If we’re going to meet the goals set out in climate […]
Increase to the mortgage stress test rate for insured mortgages.
On May 20, 2021, as expected, the Department of Finance extended the increase to the mortgage stress test rate to insured mortgages. This change is no longer proposed, but will come into affect June 1st. The rate goes from 4.79% to 5.25%, to match the already announced change to uninsured mortgages. This is the rate […]
Proposed increase to the mortgage stress test
Shopping for a Mortgage? A Stricter Stress Test is Likely on the Way The government has introduced an increase to the mortgage stress test. If you’re in the market for a mortgage over the next several months, you’ll want to read on. Several new mortgage changes are coming down the pipeline that could affect your ability […]
Proposed changes to cool the crazy housing market.
As expected, the federal government is looking at ways to cool the crazy housing market by making changes to the mortgage stress test. Among other reasons, low interest rates have helped to fuel the current state of the housing market which now at one of the fastest paces its ever been. Prices have increased exponentially […]
Home prices in the City of Barrie are skyrocketing!
Home prices in the City of Barrie are skyrocketing. Fueled by many factors including people working from home who want larger spaces and better affordability, supply and demand issues and low interest rates, home prices have skyrocketed. Real estate agents are reporting multiple offer situations on most properties offered for sale. Properties sold According to […]
Spring is here! Its time to plan your garden!
After a dreary depressing winter Spring is here! Not to mention the wonderful weather we are having today and expecting for the rest of the week. Its time to plan your garden! I’m tempted to get outside and start raking away the residue from the long winter. There are leaves to clean up that were […]
February job market looking good!
Finally, some good news! The February job market is looking good! Stats Canada released the February 2021 Labour Force Survey that concluded stronger than expected job growth. The easing of the latest restrictions and lockdowns revived the labour market; a pleasant surprise. Canada’s economy has been resilient but we still remain at risk because of […]
