Pay off your debt, don't just pay it down!!!
Patricia Lovett-Reid, Financial Post
Do you remember when people bought only what they could afford? My father used to say, “most debts are fun when you are acquiring them, but none are fun when you set about retiring them.” One of the biggest challenges Canadians face is trying to balance paying down debt while saving for the future. ...
Posted by Todd Fryer
on August 4, 2010
Canadian inflation 'going nowhere fast'
OTTAWA -- Consumer prices in May were up 1.4% from a year earlier, mainly on higher energy prices, Statistics Canada said Tuesday.
"Overall, energy prices rose 6.2% between May 2009 and May 2010, following a 9.8% increase during the 12-month period to April," the federal agency said.
The core inflation rate, which strips out volatile ...
Posted by Todd Fryer
on July 6, 2010
Renovations that sell
Thinking of selling your home and not sure about what to do to sell it for top dollar? Potential home buyers are often searching for properties that are in “move-in ready” condition so that they don’t have to incur any extra costs when they move into their new homes. If you already own a home suitable for you and your family, renovating with long-term ...
Posted by Todd Fryer
on June 14, 2010
This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010:
1. All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term;
2. The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% ...
Posted by Todd Fryer
on February 16, 2010
Canada's housing market is on the rebound with resales expected to set a new annual record this year and homebuilding off to a strong start, according to two reports issued Monday. The Canadian Real Estate Association is forecasting that national home sales activity will reach 527,300 units this year, up 13.3 per cent from 2009. This would be a new annual record, up 1.2 per cent above the previous ...
Posted by Todd Fryer
on February 9, 2010
What factors should I consider when renewing my mortgage?
When it’s time to renew your mortgage, you have the opportunity to choose the mortgage options that best suit your needs today and for the future. That’s why it’s important to assess your financial situation and goals to help you make the most fitting decision.
To start, ask yourself these questions to determine which renewal ...
Posted by Todd Fryer
on February 7, 2010
5 ways to set the stage for a successful sale
1. You never have a second chance to make a first impression. To get the best price for your home, there are a number of simple, inexpensive strategies for setting the stage and making prospective buyers feel right at home.
2. Shed some light Good light is key for buyers. Clean your windows, take down old, dark drapes, increase the wattage ...
Posted by Todd Fryer
on February 5, 2010
The Government of Ontario has made a number of changes to the property assessment system that went into effect in the 2009 property tax year. These changes include the introduction of a four-year assessment update cycle and a phase-in of assessment increases. MPAC’s last province-wide assessment update took place in 2008. Currently, the assessed value of properties in Ontario is based on a January ...
Posted by Todd Fryer
on January 27, 2010
2009 proves real estate is a good investment The Greater Hamilton-Burlington area resale market reported a total of 779 units sold in December, indicating an increase of 70 per cent over the same month last year, but only 18 per cent higher than December 2007. The total unit sales for 2009 are being reported at 5.8 per cent higher than 2008, while new units listed are 6.8 per cent lower for the year-to-date, ...
Posted by Todd Fryer
on January 24, 2010
2010 in the opinion of most economists will be the start of a steady recovery in the real estate market, it is projected that housing prices will grow in 91% of major Canadian markets*. I think this projection is mostly due to the historically low interest rates and rising consumer confidence that we are now enjoying in Canada. (*source Vancouver Sun)
Posted by Todd Fryer
on December 13, 2009