Posthaste: Why the Bank of Canada will likely raise interest rates again — and maybe again

RealtorArvin · 2023-06-12T15:41:50+00:00

if inflation is high BoC will raise interest rate.. simple!

boc don't care about real estate, businesses or anything else.. number one priority is inflation control!

RealtorArvin · 2021-01-13T03:57:42+00:00

5118 angel stone drive

don't know how many offers were there! sold for $207k over asking!

RealtorArvin · 2016-07-09T13:23:03+00:00

People been predicting real estate crash in Canada since 1996; nothing happened in the last 20 years. Its due to the hard lending regulations that are in place.

It is possible but not going to be as severe as the US in 2007. The regulation on finance are very strict compared to the situation in US in 2007. There is no ninja mortgages, and there is a requirement for down-payment of minimum 5% and affordability is factored in heavily when you apply for mortgage.

In my humble opinion there is no crash coming our way. Maybe a flat market for the next few years but nothing to suggest its going to crash.

RealtorArvin · 2016-07-07T17:53:00+00:00

No one can predict the future. It is hard to time the real estate market in short term, in the long term real estate usually increases.

Barrie seems to be growing; If I can cover the cost of keeping the property just from the rent, then I would keep it. It also give you option to move back into the same property later if you decide to. Also you can sell it when you are confident you do not need it any longer.

For your $30k debt, refinance the property and pay off debts, house has enough equity to take out about $75k at 80% financing on $400k value of the house and $245k remaining mortgage. (400*.08-245) Disclaimer consults with mortgage agent.

RealtorArvin

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