Finance Minister Joe Oliver, who is currently in meetings with his provincial finance minister counterparts, has said the government may take steps to rein in an overvalued housing market. “In terms of household debt and the real-estate market, this is a subject, of course, we’re monitoring very carefully,” Oliver said, according to the Canadian Press. […]

The Bank of Canada may have been largely positive about the economy but Stephen Poloz’ statement yesterday in which he announced that the interest rate will stay at 1 per cent also raised concern about the level of household debt. New figures from Equifax show a $1.5 trillion debt burden for Canada’s households, with the […]

Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better […]

Lenders are advertising the option of skipping a mortgage payment more often these days – with one major bank even creating a TV ad! But unless this is your only option, it’s not recommended that you skip a payment because, like most ads that sounds too good to be true, this option is as well. […]