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Legend of the Fall - Is a Correction On the Horizon?

The Canadian Imperial Bank of Commerce came out with a report Wednesday on the heels of a Royal Bank of Canada study suggesting that Canada’s real estate market is already heading towards a correction. Figures published in the The Financial Post say that Canadian house prices are 14 percent above their fair market value, with BC and Alberta homes being the most overpriced.  The average ...

Put On Your Seat Belts – We’re In for a Mortgage Ride

As we head into the Victoria Day long weekend, Canada’s major banks have announced that they are lowering five-year rates on mortgages – for the second time this month – effective today. Rates started out the month at 6.25% and have since dropped by 26 bases points, according to a Canadian Press report published Thursday by major media outlets. In an interview with ...

Fixed or Variable Rate Mortgage?

How about both? According to the annual RBC Homeowners Survey released this week, 40 percent of people surveyed who are planning on buying a home in the next two years would opt for a combination mortgage. This is a stark rise above the 32 percent who chose this option last year. Not surprisingly, 16 percent of those surveyed say they would opt for a variable rate mortgage in 2010 down ...

Canadians in More Debt than Greeks?

The Certified General Accountants of Canada (CGA) released a study today showing a trend by Canadians toward investing in riskier assets, leaving them more prone to market fluctuations and financial stress. The study reveals a steady decline in investments by Canadians in ‘safe’ assets over the past 20 years. For example, stocks and mutual funds accounted for 19.2% of all household assets in 2009 ...

Rising Consumer Confidence in Real Estate Market

A TNS Vibe survey released today by TNS Canadian Facts – a marketing, opinion and social research organization – suggests that intentions among Canadians to buy a house or condo have risen to 14% from 11% last September. The survey, which interviewed more than 1,000 Canadians online between March 18 and 25, 2010, also shows that despite those who indicated their intentions to buy six months ago, ...

The Score in the 2009 Tax Refund Game

Debt Reduction 1, Blowing the Cash 0 According to a recent survey, 48 percent of Canadians expecting tax refunds this year plan to use them to pay off credit cards and other bills. Only four percent of those surveyed plan to use tax refunds to pay down their mortgages.  The Leger Marketing survey was commissioned by BMO Nesbitt Burns. Of those surveyed: 21% plan to reinvest their ...
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