Frank Salvatore
Frank’s Blog

Cash Back mortgages still available

September 27, 2011 by · Leave a Comment 

First time homebuyers in Hamilton may be wondering if they’ll ever be able to afford a home. On March 18, 2011, the mortgage lending rules changed, making it slightly more difficult for first time home buyers to qualify for a mortgage. The one change that has a direct affect on first time home buyers is […]

Canada’s new mortgage rules and Hamilton Real Estate

September 27, 2011 by · Leave a Comment 

The recent mortgage changes by the Ministry of Finance’s Jim Flaherty came about because the government and the Bank of Canada are concerned about the record levels of household debt. For every $1 in savings, Canadians owe $1.50 and mortgage debt is up around $1 trillion. The Bank of Canada recently warned that debt levels […]

Mortgage Default and Title Insurance

September 27, 2011 by · Leave a Comment 

Mortgage Default Insurance There are a lot of things to consider when buying real estate in Hamilton, in particular mortgage options and mortgage insurance.  Your real estate broker can recommend a mortgage broker but before you speak with them here is some information on mortgage insurance. Mortgage default insurance is the security for the lender […]

Canada Leading the Way in Global Economic Recovery: Desjardins

July 13, 2011 by · Leave a Comment 

According to a new study released by the Desjardins Economic Studies team some industrialized countries are displaying signs of economic weakness, but the report indicates that this is not necessarily a trend.

Hamilton Named Top City in Ontario to Invest

May 24, 2011 by · Leave a Comment 

Hamilton has become the “top place to invest in Ontario”, according to a release from Calgary based Real Estate Investment Network of Canada. In addition to this honour, REIN also named Hamilton the #3 place in all of Canada to invest.

The Canadian resale housing market holds steady in March

April 18, 2011 by · Leave a Comment 

Existing home sales in unit terms were essentially unchanged in March, up only 0.1% in seasonally adjusted terms versus February. It seems that purchasers looking to buy ahead of the March 18th change to mortgage rules did so earlier in the year, raising first quarter home sales 4.5% higher than Q4.

TD Economics

February 21, 2011 by · Leave a Comment 

Data Release: Canadian resale housing market picks up steam in 2011

NEW MORTGAGE RULES

January 18, 2011 by · 1 Comment 

NEW MORTGAGE RULES Flaherty has unveiled three new rules: (1) Mortgage amortization periods will be reduced to 30 years from 35 years. (2) The maximum amount that Canadians can borrow to refinance their mortgages will be lowered to 85 per cent from 90 per cent. (3) The government will withdraw its insurance backing on lines […]

MORE NEW HOMES IN HAMILTON

November 13, 2010 by · Leave a Comment 

TORONTO, November 8, 2010 – Preliminary data released today by CMHC show there were 239 starts in the Hamilton Census Metropolitan Area (CMA) in September, the majority of which were for single-detached homes and townhouses in the City of Hamilton. In the neighbouring cities of Grimsby and Burlington, there were only a handful of single-detached starts while townhouse starts had a stronger showing.

Canadian housing starts frost into the fourth quarter

November 13, 2010 by · Leave a Comment 

Canadian home building activity showed signs of weakness for a third consecutive month in October. Homebuilders broke ground on nearly 168,000 units, down a significant 9.2% from the 185,000 units in September.

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Frank Salvatore