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First-time homebuyers: Home prices expected to drop by 2015

Canada's hot, hot, hot housing market is doing what experts hoped: It's actually showing signs of cooling. Although housing prices steadily increased through June, groundbreaking for new homes decreased and fell below the number of expected housing starts predicted by analysts.

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5 Ways To Pay Off Your Mortgage Faster

If you own a home, it's likely that you're still dragging the old ball-and-chain. No not that one - we're talking about your mortgage. For many homeowners, 10, 20 or even 30 years down the road seems like an impossibly long commitment, which often means we slog along, and forget all about what it would be like to be mortgage-free.

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Paying Down the Mortgage

Reducing consumer debt has been the name of game - from the Bank of Canada warnings of increasing household debt to the Government of Canada tightening mortgage rules. A recent survey by the Bank of Montreal said that 51% of Canadian homeowners are expecting to carry their mortgage into their retirement years. Wow!!!

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Prepayment Options - Are you getting the most flexible mortgage?

Mortgage prepayment options outline the flexibility you have to increase your monthly mortgage payments or pay off your mortgage as a whole without penalty.

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Mortgage Rules Could Cool Hot Market
 
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Say Goodbye to 30 year amortizations

Jim Flaherty said at a press conference this morning in Ottawa, that effective July 9, 2012 the following changes will take effect regarding mortgage lending;

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Time to Renew?

With a blink of an eye, five years is over and you're starting to get the notices reminding you that your mortgage is up for renewal. You may have conveniently gotten your renewal papers in the mail from your lender offering you a rate that's lower than what you were paying before (this is because current mortgage rates are at a historical low). It's easy to just sign on the dotted line and mail it back, but if you stop and think about it, by signing these papers, you're locking yourself into yet another long term contract.

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Landlords who don’t declare secondary suites not covered by insurance

When Raj Bhangu put a secondary suite into his Kitsilano house, he spent the extra $20,000 to do it legally and get the right permits. But he was surprised to find that even though he had home insurance, it would have been null and void had the unthinkable happened — a flood, fire, earthquake or any other unforeseen catastrophe.

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7 Key Questions For Your New Investment Realtor

 

There are at least seven key questions every investor needs to ask their prospective real estate agent before making the decision to hire, says Tahani Aburaneh, author of "Real Estate Riches: A Money-Making Game Plan for the Canadian Investor."

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Home Ownership Costs Climbing ...

It’s getting more difficult to pay the costs associated with home ownership in the Vancouver area and the tab is likely to rise more as interest rates rise, the Royal Bank said Tuesday.

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Mortgage market tiptoes toward subprime

As the big banks get choosier about who they'll lend money to in this hot housing market, people with questionable credit are benefiting from Canada's once-small but now booming subprime mortgage industry.

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Reno $$$$ Returns

Can’t stand your dark, drab basement? Have the purple-and-olive tiles and porcelain in your bathroom seen better days? Maybe you’ve had enough of your old vinyl floor and tacky fittings in your cramped kitchen. But what do you tackle first?

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Women more likely to be first-time homebuyers in the next two years: RBC Poll

Among Canadians who plan to buy a home within the next two years, women are more likely than men to be first-time homebuyers (49 vs. 35 per cent), according to the 19th Annual RBC Homeownership Poll.

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CEO welcomes drop in local Vancouver housing prices

Housing price increases in Toronto and Vancouver in the last decade aren’t sustainable and recent declines are welcome, according to Lindsay Gordon, chief executive of HSBC Holdings PLC’s Canadian arm.

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Debt growth is slowing in Canada

The Bank of Canada should not raise rates because of growing household debt concerns, because debt levels are already on the way down, says Derek Holt and Dov Zigler, economists at Scotia Capital Markets

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