Posts Tagged ‘Real Estate’

Q. I will be making my final mortgage payment in a couple of months. What happens next? Congratulations for achieving this big financial milestone. You’re about to own your home free and clear of any debt and, with the increase in your cash flow, you will improve your financial condition. Once that final mortgage payment…

Allow me to riff on the housing market and how recent changes to mortgage rules will affect Canadian homebuyers. To recap, the feds stepped in and introduced a mortgage rate stress test for fixed term mortgages of five years or more. The stress test, which already existed for variable and 1-4 year fixed terms, stated…