According to the TD Canada Trust Boomer Buyers Report, more than half (56 per cent) of Canadian baby boomers have not paid off their mortgages. TD polled 1,000 boomers born between 1946 and 1964 for the Boomer Buyers Report conducted in October 2010. Of those who have not paid off their mortgage, one third have paid off more than 75 per cent of their mortgages while another quarter of the boomers ...
Posted by Paul Baron
on August 26, 2011
For Some people buying a house in this climate is not an option. Some home owners might want to get out of home ownership to capitalize on this hot market, rent out a place for a year and determine what the market is and then decide to get back into home ownership. Its simple: Sell when the market is high, then buy again when the market is low. While this is an option there are also drawbacks to ...
Posted by Ernie Arrizza
on August 23, 2011
CMHC is great for getting some people into high risk mortgages. Buyers who only have 5% down and would rather buy a house now than wait to have a bigger deposit. I'm all for this service which drivers the economy and my career. For buyers who can wait, and put a little more money down, I suggest trying to save for that deposit as much as you can so you don't pay the CMHC fee. In some cases the fee ...
Posted by Ernie Arrizza
on August 16, 2011