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Blog by Linda M Linfoot

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Prime Rate Increase

July 20th, 2010
Bank of Canada Hikes Key Interest Rate Today The Bank of Canada hiked its key interest rate by a quarter point today, for the second month in a row.  In its statement the Bank noted that it “expects the economic recovery in Canada to be more gradual than it had projected in…April, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a ...
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Posted in Mortgage Information

It's a Buyer's Market!!

July 8th, 2010
Real estate broker predicts lower home prices on the way By LuAnn LaSalle The Canadian Press MONTREAL — Home buyers can expect more choice and lower prices in the second half of 2010, while sellers can expect fewer offers for their homes, says one of Canada’s leading real estate brokers. “Accurate pricing is going to be really key,” said Phil Soper, president and chief executive of Royal L ...
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Posted in Real Estate Information

New Home Energy Efficiency

July 5th, 2010
New Home Energy Efficiency:Today’s home builders offer a wide variety of energy efficient options. These range from certified Built Green or R2000 finished homes, to individual features such as high efficiency heating systems, upgraded insulation and ENERGY STAR appliances. Whether you’re building or buying a new home, ask your builder about the following energy efficiency features: High Effi ...
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Posted in Real Estate Information

Owning a Home During a Separation

July 5th, 2010
We all know that marriage isn’t always forever. And when a separation occurs, a home is often involved. Since most couples have a joint mortgage – one where both names are on the mortgage and title of the home – when separation or divorce proceedings occur, many wonder what will happen with the home. When the marriage comes to an end, there are two obvious options concerning the home ...
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Posted in General

Rental Suite Could Be a Nigthmare!!

July 5th, 2010
Rental suite can help you pay off that mortgage but 'it could be a nightmare' Malcolm Morrison, The Canadian Press TORONTO - Buying a house with a rental suite can be just the ticket to help you pay off your mortgage years earlier than it might have otherwise been possible. But landlord beware: there are potential problems connected with getting financing, getting rid of tenants you really ...
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Posted in General

Best Deals in Real Estate

June 24th, 2010
Best deals in real estate by Don Sutton, MoneySense  Where do you want to live? Where can you afford to live? Every major Canadian city scoured for bargains!It’s a crazy time for real estate in Canada. Prices are sky-high, people are feeling pressured into selling into a hot market and buyers fear purchasing an overpriced home only to see the bubble burst.But MoneySense magazine has come to ...
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Posted in Real Estate Information

Home Sales in May 2010

June 17th, 2010
Home sales sputter in May Steve Ladurantaye Real Estate Reporter  Globe and Mail Buyers backed away from Canada’s housing market in May, driving sales lower in what is traditionally the busiest month of the year for the country’s real estate agents. The housing market has been key to Canada’s economic recovery, as low  interest rates and pent-up demand drove buyers into the market after m ...
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Posted in Real Estate Information

Reno's - Get It In Writing

June 9th, 2010
Get It in Writing Spring is a popular time for home renovations. To help minimize disputes with your contractor and ensure your project goes smoothly, your contract should include the following details:     The contractor's name, address, phone number and, where applicable, his or her professional license number. A description of the work to be done, including who will be doing it, w ...
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Posted in Real Estate Information

Avoid a Mortgage Rejection

June 9th, 2010
Avoiding Rejection Few things are more heartbreaking than finding the perfect home for you, but then getting turned down for a mortgage. By knowing some of the common reasons lenders reject otherwise qualified applicants, you can be proactive in avoiding them. Here are a few rejection reasons:       Information on your application is inaccurate or incomplete. Lenders will want to k ...
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Posted in Mortgage Information

Understanding Your Credit Score

June 1st, 2010
Credit Score Secrets by Gail Vaz-Oxlade, for Yahoo! Canada FinanceThursday, May 27, 2010 Ever wonder how that magical number – The Credit Score – is computed?  Whether you’re obsessing over your FICO score or your Beacon score, you’re likely shopping for credit. The FICO score was developed by Fair Isaac & Co., which began credit scoring in the late 1950s. The point of the score is consolid ...
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Posted in Mortgage Information

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