Archive for March 2010

BEFORE YOU START RENOVATING YOUR BASEMENT

March 19, 2010

http://www.cmhc.ca/en/co/renoho/refash/refash_024.cfm

CMHC HOME MAINTENANCE SCHEDULE

March 19, 2010

http://www.cmhc.ca/en/co/maho/gemare/gemare_003.cfm

RESTORE YOUR HOME AND PREVENT FURTHER DAMAGE

March 19, 2010

http://www.cmhc.ca/en/co/maho/em/em_001.cfm

AVOID BASEMENT FLOODING

March 19, 2010

http://www.cmhc.ca/en/co/maho/gemare/gemare_002.cfm

THE NEXT 2 YEARS

March 8, 2010

TORONTO – A new study by the Royal Bank suggests more Canadians are very likely to buy a new home in the next two years.

Ten per cent of the 2,047 people surveyed for the 17th annual RBC home ownership study said they plan to buy a home by 2012 – up from seven per cent two years ago.

The bank says 15 per cent of those in the 18-to-24 bracket say they are very likely to buy – almost double the level recorded in 2009.

The RBC study also found that 91 per cent of Canadian homeowners believe a home is a good investment, the highest level in 12 years.

One-quarter of those surveyed, 26 per cent, said they expect their home to be their primary source of income when they retire.

In addition, 44 per cent of Canadians who plan to buy a new home in the next two years plan to take a fixed rate mortgage.

“With the Canadian housing market showing continued vigour, it’s not surprising that Canadians feel more confident in the long-term value of owning a home,” said RBC senior economist Robert Hogue.

“Exceptionally low mortgage rates and improved affordability have been key reasons for the resurgence in the housing market this past year.”

CHANGES TO MORTGAGES

March 4, 2010

Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on

 April 19, 2010.

  • All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term
  • The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one’s home
  • Non-owner occupied properties will require a minimum down payment of 20%.

There were no changes to down payment requirements or length of amortizations for owner-occupied residences.

GREEN LEASE GUIDE

March 3, 2010

http://www.realpac.ca/splash.asp