As we enter into 2017, we take a look back at major headlines in 2016 and projections for what might lay ahead for Canadians in the next 12 months.
New Mortgage Rules
Last October, Canada's Federal Finance Minister made an announcement that would affect those trying to qualify for a mortgage as of November 30, 2016. In the past, borrower's could qualify for a mortgage based on discounted rates.
A mortgage is a considerable financial investment for anyone. It is likely one of the biggest investments an individual will make in their lifetime and there are many aspects to consider to ensure that your type of mortgage is the right one for you.
If you've ever thought about trying to make more money, the idea of making an investment has probably crossed your mind. Perhaps you've thought about getting into real estate, as investing in property could potentially offer the perfect opportunity to expand your income.
For anyone who wants to earn a little extra money on the side, real estate can offer the perfect opportunity. No matter what level of experience you have in this area, chances are you can make a decent side profit from real estate.
When it comes to securing a mortgage, it can be a tricky process. Anyone who has ever gone through it will know that there is a huge amount to take into consideration. Getting a decent mortgage is, for the most part, a process of figuring out every detail as fully as possible.
Finance Minister Bill Morneau had announced on Monday October 3, 2016 sweeping changes aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates.
With excellent healthcare and a stable economy, Canada is one of the best places to live in the world. It has a diverse climate and plenty of amazing natural sights to see. Plus, the standard of living in Canada is rated as one of the highest on the planet.
The housing market in Canada is very stable. However, prices can fluctuate depending on the region being looked at. To help make some sense out of everything, here are the most and least expensive housing markets in Canada: