News and Education

Caution – CRA’s Deemed Trust to Employers and Business

This article provides answers to some common questions about deemed trusts. You’ll want to consult your own tax professional or attorney to get specific answers to questions about your own ...
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The Basics on Child and Family Benefits

This article provides a basic overview of the Canada child benefit, working income tax benefit, the goods and services tax/harmonized sales tax (GST/HST) and programs that provinces and territories have ...
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New Rules for Residential Mortgage Lending

What You Need to Know about the New Rules for Residential Mortgage Loans  The Office of the Superintendent of Financial Institutions (OSFI) has released the most recent changes coming to ...
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Equifax, the Big Breach

If you’re like most Canadians, you may be wondering how the Equifax customer information breach can affect you. After all, credit bureaus have access to much of our most sensitive ...
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Marriage and Separation in Canada

Insight on Separation & Divorce in Canada Are you thinking about a separation from your spouse? Then you need to know the legal ins and outs when it comes to ...
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BC Home Partnership Program Overview and Applicant Information

Basic Information about the Program If you are a resident of British Columbia, and you qualify as a first-time homebuyer, the BC Home Owner Mortgage and Equity Partnership, or the ...
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Co-Signing or Guaranteeing a Mortgage? A Comparison

Getting mortgage approval is often difficult for borrowers with poor credit, insufficient income, the lack of a down payment, or an employment history that shows a lot of movement. However, ...
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Questions and Answers about the October 17 Mortgage Rule Changes.

Applying Mortgage Rate Stress Tests to Insured Mortgages The information in this article applies to all mortgage applications involving high ratio insurance on or after October 17, 2016. Grandfathered loans ...
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Has the Canadian Government Finally Slowed the Housing Market?

The federal government has issued a new set of rules that will have a major impact on the mortgage market, but the biggest shock will fall on the consumer. The ...
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CHMC-insured mortgage arrears skyrocket in Alberta

There are some parts of Canada where the prices of real estate have already shot up toward what is likely to be a peak for the time being. In some ...
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Renovations on the rise in Ontario

The economy in Ontario is getting a growing boost from spending on home renovations. According to the Canada Mortgage and Housing Corporation’s latest report, the spending is coming both from ...
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A Drop in Wages without an Official Recession

Where’d My Salary Go? A Drop in Wages without an Official Recession When the worldwide financial crisis showed up in Alberta, the economy shrunk by about six percent. When another ...
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Acceptable Sources for Your Down Payment

There are times when taking out a mortgage feels like the most thorough physical examination that you have ever had. However, unlike a trip to the doctor, the underwriting process ...
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Foreign Home Buyer Tax Angers Realtors

The government in British Columbia has instituted a 15 percent tax on purchases of real estate by non-Canadian buyers – and the Real Estate Board of Greater Vancouver is not ...
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OSFI Strengthens Supervisory Guidelines

OSFI Strengthens Supervisory Guidelines for Mortgage Underwriting All federally regulated financial institutions (FRFI) received a letter recently from the Office of the Superintendent of Financial Institutions (OSFI) detailing concern about ...
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What to Expect after Brexit

What happens next after Brexit? The voters of Great Britain shocked the world a few days when they voted to depart the European Union. The markets around the world hit ...
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Drowning in Oil: The Alberta Economy

The Affect Oil Is Having On The Alberta Economy For most people, the plunge in gas prices has been a good thing -- it has dramatically shrunk what had been ...
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Can The Passage of Time Wipe Your Debt Away?

Is there a pile of debt that's been sitting on your credit history for a number of years now? You might be able to get out of this after all, ...
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Senior citizens aged 70 and above saddled with the most debt ever

Senior citizens aged 70+ have the most debt ever.. In years past it was almost unthinkable for people in their seventies to have significant mortgage debt. According to a recent ...
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Calgary Home Prices Dip, Not as Sharply as the Last Time

Lower oil prices aren't just bringing the price of a liter of gasoline down in Calgary. They're also bringing home prices -- and total sales -- down as well. There ...
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The Ins and Outs of the New 10% Down Payment

Pros and Cons of the New 10% Down Payment If you are considering buying a house in Canada in 2016, you may need to put down more than you thought ...
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Employment Insurance Claims Hit Markets

Employment Insurance (EI) Claims Hit Markets throughout Canada Employment Insurance (EI) claims throughout Canada continued to climb in August, going up 4.9% from July to a total of 242,400 in ...
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New Government, New Times?

New Government, New Times? - Affordable housing canada The national elections in Canada were a big surprise to the pollsters and the pundits, who expected a minority government to emerge, ...
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Have the Liberals Improved the Home Buyers Plan?

Have the Liberals Improved the Home Buyers Plan Proposal, or is it Political Posturing? The Liberal Party in Canada has made a bold proposal that could open up more real ...
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CMHC to Allow 100% of Suite Income

CMHC to facilitate affordable housing choices for Canadians. The real estate market for dwellings with apartments in the basement is about to take off. CMHC recently announced that, effective September ...
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Slumping Oil Prices and the Swooning Calgary House Market

The Affect Slumping Oil Prices have on the Calgary Housing Market In some parts of Canada, real estate prices are heading up at a swift rate. However, in parts of ...
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Home Capital Cut Ties with Dozens of Mortgage Brokers over Falsified Documents

Falsified Documents - Home Capital Cut Ties with Dozens of Mortgage Brokers Late in the day on July 29, 2015, Home Capital Group, Inc. realized that it had severed ties ...
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Mortgage Fraud Statistics in Canada and the USA

It's easy to get angry at the banks when it's hard to find a low-interest mortgage. After all, the vast majority of people who apply for mortgages have every intention ...
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Financial Hardship Unlocking (FHU)

(FHU) Financial Hardship Unlocking General Program Process and FAQ: 1. What exactly is the Financial Hardship Unlocking (FHU) Program? If you’re a locked-in account owner going through some financial difficulties, ...
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