Agent Blogs

Apr 26

Flashback to 1969… Is housing really more unaffordable today?

Blog posted by Kevin Harris  ::  Views (8349)
We keep hearing it on the news, from government, economists and banks… housing is more unaffordable today than it was for previous generations.  Is it really as much as people claim? We thought we would take a look and see at what the differences are. In 1969 the average... [ more ]
Apr 11

Things are Looking Up!

Blog posted by Kevin Harris  ::  Views (10433)
Not a boom, but not a bust either According to an article in the Leader-Post StatsCan has reported that the economy had stronger growth than predicted in January. The growth was primarily driven by a stronger manufacturing sector but the arts, technology and other sectors also contributed... [ more ]
Feb 21

3 Impactful 2013 Resolutions for Your Home

Blog posted by Kevin Harris  ::  Views (8078)
Whether it’s most important for you and your family to shrink your bills or reduce your carbon footprint, these resolutions are commendable. Here are some useful tips that can benefit ecological conservation, make more time for family, and lead to home harmonization. Use these simple... [ more ]
Nov 26

TFSA Annual Contribution Limit Increasing to $5500

Blog posted by Kevin Harris  ::  Views (8686)
The Canadian government announced today that the annual limit on what one can contribute to their Tax Free Savings Account will increase by $500 starting in 2013. This is the first year since its introduction in 2009 that the government has raised the contribution amount, which is tied to... [ more ]
Nov 14

A Shorter Amortization Will Save You Thousands

Blog posted by Kevin Harris  ::  Views (7960)
With today’s historically low interest rates, it makes sense to shorten the number of years your mortgage is amortized over. Doing this will not only pay off your mortgage years earlier, but it will also save yourself thousands of dollars over the life of your mortgage. For example, a... [ more ]
Oct 1

Getting Your Home Ready for Fall

Blog posted by Kevin Harris  ::  Views (9000)
If you couldn’t tell by the cooler weather and that it’s dark by 8pm, Fall has graced us with its presence. The arrival of Fall makes us want to curl up with a blanket by the fire and read a good book. But before that can be done, there are important checks to be done around... [ more ]
Aug 28

What's Your Number?

Blog posted by Kevin Harris  ::  Views (35183)
You’ve most likely heard the term “credit score” in conversations about debt or borrowing and understand that it has an effect on our ability to take out loans and get a mortgage and that it’s important to maintain good credit. Do you know how your credit score is... [ more ]
Jul 18

Bank of Canada Maintains Overnight Rate Target at 1 per cent

Blog posted by Kevin Harris  ::  Views (10432)
The Bank of Canada left its key overnight lending rate unchanged Tuesday, where it’s been sitting for almost two years. The last time it rose was September 8, 2010, when it was increased from .75 per cent up to 1 per cent. The overnight rate, which banks use to help set the prime rate... [ more ]
Jul 18

Mortgage Rules Have Changed Again

Blog posted by Kevin Harris  ::  Views (8494)
Here we go again. The Office of the Superintendent of Financial Institutions had proposed new guidelines for mortgage underwriting back in March and final Residential Mortgage Underwriting Practices and Procedures were released to financial institutions today. Along with these, the... [ more ]
Jan 12

How Much Can I Afford to Pay for a Home?

Blog posted by Kevin Harris  ::  Views (15466)
To determine ‘affordability’ you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are purchasing, calculate 32% of your income for use toward a mortgage payment, property... [ more ]
Nov 29

Fixed or Variable Which Way To Go

Blog posted by Kevin Harris  ::  Views (18211)
  How Do You Choose Which One is Better - Fixed or Variable? Posted on November 08, 2011 I thought we would do an overview of fixed versus variable rates, as this is a constant water cooler topic. As predicated, lenders have made significant changes to variable rate products. Most of the... [ more ]
Apr 19

Interest Rate Forcast

Blog posted by Kevin Harris  ::  Views (20553)
INTEREST RATE HIKE LIKELY   Chances are good we’ll see an interest rate hike from the Bank of Canada this summer, based on the latest inflation figures.  Higher food and fuel prices pushed the inflation rate to 3.3 per cent last month,  up from 2.2 per cent in... [ more ]
Apr 12

Bank of Canada Holds Rates

Blog posted by Kevin Harris  ::  Views (31962)
BANK OF CANADA HOLDS INTEREST RATE AT 1%   The Bank of Canada has kept its trendsetting overnight interest rate at one per cent, but not because the economy is doing poorly. The bank says the economy is actually outperforming expectations, and now expects it will grow by 2.9 per cent... [ more ]
Apr 7

Cash Back May Be King

Blog posted by Kevin Harris  ::  Views (22681)
  Cash Back May Be King!!   As mortgage rules have changed and are now in place as of March 18th consumers will feel the effects of these new changes quickly. Drawing the amortization in to a maximum 30 year term from the 35 year term it had been directly affects your mortgage... [ more ]
Mar 1

Bank of Canada looks at Prime Rate

Blog posted by Kevin Harris  ::  Views (37243)
  Release: BoC leaves overnight rate at 1.00% and preserves cautious tone   As expected, the Bank of Canada (BoC) left its target for the overnight interest rate unchanged at 1.00% for a fourth consecutive meeting since September 2010. In light of today’s BoC statement,... [ more ]
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