Mortgage News

Canadians don’t expect to be mortgage-free until age 57, survey finds

Last Updated: 13/04/05 8:04 AM ET MARK RALSTON/AFP/Getty ImagesThe report released Fridayfound those in British Columbia expected to be the oldest at 59 when they have paid off their mortgage, followed by those in Manitoba and Saskatchewan at 58. The average Canadian homeowner doesn’t think they’ll be mortgage-free until they’re 57 — two years longer than…

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Canadian housing market ‘in a highly unusual place’

An unusual combination of factors is fueling house price increases despite a downturn in sales, a new housing survey finds. TORONTO STAR / DICK LOEK Toronto house prices are likely to continue to soften into next year, but will avoid a hotly anticipated major downturn, a new housing survey suggests. Fri Apr 05 2013 EXPLORE…

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Japan eyeing billions in LNG investments in Western Canada

13/04/04 6:04 PM ET Handout / Pembina Pipeline Corporation LNG transportation costs from Canada’s West Coast are lower because of its proximity to Asia and Japan believes LNG exports are more likely to move ahead from Canada than from the West Coast of the United States. VANCOUVER • Japan is prepared to invest billions directly…

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Canadian home prices up in most markets in early 2013: Royal LePage

Last Updated: 13/04/04 8:46 AM ET THE CANADIAN PRESS/Richard BuchanAccording to the Royal LePage survey, the national average price for a two-storey house was $407,044 in the quarter, the bungalow average was $364,857 and the average price for a condos was $246,071. TORONTO — Average prices for three common types of housing were up year-over-year in…

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Household debt grows in February at slowest pace in over a decade: RBC

13/04/02 | Last Updated: 13/04/02 12:31 PM ET DAMIEN MEYER RBC says policy-makers should welcome a moderation in consumer borrowing that began to emerge in 2012 and has continued in the first two months this year. TORONTO — The Royal Bank says February marked the slowest year-to-year growth in Canadian household debt in more than a decade….

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Pinnacle plans to build the tallest residential tower in Canada on Toronto’s lakeshore

13/04/01 9:21 AM ET National Post: Pinnacle’s proposal calls for six highrises, including the 88-storey condominium tower in a city that already tops North America for the most highrises under construction. Pinnacle International, a Vancouver- based developer, plans to build the largest hotel and condominium project in Toronto, the Canadian financial capital with the most…

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Change to mortgage default rules turning more people into savers

Last Updated: 13/03/27 2:07 PM ET Tyler Anderson/National Post: Farhaneh Haque, director of mortgage advice at TD Canada Trust, said there were a limited number of clients who might have been opting for a large insured loan with very little down. You may think you look like a million dollars, but as far as Ottawa is…

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Here’s how to save on your mortgage

Last Updated: 13/03/29 2:57 PM ET Justin Sullivan/Getty ImagesAll Canadians planning to take advantage of today’s low rates to buy a home or renew a mortgage would be wise to follow Mr. Flaherty’s lead – and go a step further by opting for an even shorter amortization. Both variable and five-year mortgages are now available for…

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Why you should lock in your mortgage

Last Updated: 13/03/29 10:36 AM ET Michelle Siu for National Post“To know your rate [on your mortgage] will be flat for five years, that’s cheap insurance,” said Will Dunning, chief economist with CAAMP. Locking in your mortgage is almost like buying an insurance policy — it’s going to cost you money but will help you sleep…

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Are you ready to buy a house? Read these home truths first

Last Updated:13/03/28 1:11 PM ET FotoliaHomeownership for twentysomethings has been climbing steadily, but young people need to ask themselves some serious questions before taking the plunge. Many young Canadians associate home ownership with their inevitable coming of age, but first-time buyers flocking to the housing market should be armed with knowledge. As homeownership rates for…

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