What you should know about the new mortgage rules. On October 3rd, Finance Minister Bill Morneau announced that new mortgage rules will include more stringent “stress testing” for borrowers. These rules are designed to lower debt levels, enforce some belt-tightening, and protect the housing market over the long term. Here’s how these new mortgage rules will affect Canadians. THE HIGH-RATIO RULE There has been a long-time rule that you must have “high-ratio mortgage insurance” if you have less
Month: November 2016
Which home renovations go right to your bottom line?
Thinking about home renovations? We can help in improving your home value! Whether you are looking to buy a fixer-upper or renovate your existing home to improve the quality of life for you and your family, it’s worthwhile to understand which home renovations can help boost the value of your home and go straight to your bottom line. According to the Appraisal Institute of Canada (AIC), the top 4 home renovations with the highest return on investment include: Updated kitchen - The