November 2017

There are 5 blog entries for November 2017.


Qualifying for a mortgage has never been a breeze and it’s about to get much harder.

In mid-October, the federal government announced changes to mortgage qualification rules and a more stringent “stress test” for uninsured mortgages for those with a 20 per cent or higher down payment.

The biggest impact these changes will have is on purchasing power and housing affordability. Rate Hub, a rate comparison website, looked at two different financial scenarios to compared what a family could afford to buy before and after the new rules.  

Before the changes, a buyer could borrow roughly the equivalent of seven times their yearly income. With the new rules, that has been reduced to slightly more than five times their yearly income.

In

196 Views, 0 Comments.

Bustling winds, rainy days, and stormy nights are now solidly upon us with few hints left of warmer times left. 

Do not despair, with the shift of seasons comes a chance for change for both you and your home.  Take the right steps for you and your family to be happy and well. 

Air quality

  • Spring-cleaning is an old adage but don’t wait till next year.
  • Now is the time to vacuum, dust and sweep up dust bunnies and cobwebs.
  • Thoroughly check for moisture spots and moulds—certain strains, like black mould, can be deadly.
  • Consider purchasing an air filter for improved quality. 

Lights

  • A lack of sunshine and light during the winter can cause SAD (Seasonal Affective Disorder). Proper lighting and vitamin D supplements can help
192 Views, 0 Comments.

Floor lamps are essential not only for its function but also for creating a statement or design element in your living room. Here are just some stylish floor lamps to decorate your home.  

192 Views, 0 Comments.

The Bank of Canada hiked interest rates twice this summer and the increases come at a time when many Canadians are struggling to pay off debt.

First, in July, the bank announced a raise from 0.5 to 0.75 per cent and then, at the beginning of September, hiked rates again to a full one percentage point. A report by TransUnion last year estimated that if interest rates were raised by one percentage point, 700,000 Canadian households would face serious financial ramifications.

Those most affected by the interest increases are those paying back debt — such as Canadians with mortgages. According to Scott Hannah, the president and CEO of the Credit Counselling Society of British Columbia, new homeowners who have just taken out a large mortgage are the most

159 Views, 0 Comments.