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How the Latest Employment Data Is Going to Affect the Canadian Mortgage Rates?

Posted onApril 07/2014By

Many prospective homeowners focus mostly on the prices while they search for a new house.  It makes sense, considering you’ve probably been pre-approved for a certain amount.  However, the mortgage rate is also a critical element and plays a huge role in determining how much you will pay in the long run.  Mortgage rates are determined by many different factors, one of which is employment data.  Why It Matters The employment rates matter when speaking about mortgage rates because they have an effect on the overall cost of labor.  And the overall cost of labor helps determine the rate of inflation, which is an important factor in determining mortgage rates.  When mortgage rates rise and you aren’t sure why it happened, a small supply of unused labor may be the reason.  A small supply of workers means wages rise and that’s when the rates will follow. With a Grain of…

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Can Decreasing House Prices Adversely Affect Mortgage Rates?

Posted onApril 04/2014By

Since it seems like house prices are on a never-ending elevator, going higher and higher every year, it’s understandable if you become excited when they take a dip. After all, lower house prices means you can afford a better home or even start thinking about it when it wasn’t an option before.  However, like with most good things there may be a downside to the equation. Since house prices and mortgage rates are so closely connected, you might see a rise in rates if the prices fall.  If Prices Tumble If the price of houses goes down, lenders will be faced with less revenue overall because home buyers have less to repay. This may result in a rise in the mortgage rates, to help balance things out and cover the difference. The axiom, “if they don’t get you one way, they’ll get you another,” seems to apply when it comes…

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How to Find Price Trends In Your City

Posted onApril 01/2014By

Real estate can be a strange and finicky industry. The ups and downs in price that seem connected to certain regions or cities or even neighborhoods means you must stay tuned in constantly or you’ll miss out. Real estate trends are a reality, and it’s important to get a handle on what’s happening in your city before you start looking.  Here’s a new way to help yourself out.  What’s Your Limit? Before you get into the trends and that kind of information, you should make a few decisions about what you want and what your limits are. Do you want a brand new home that no one has ever lived in before, or do you want an older home with some character? Do you want to live in a specific part of town, or is it all wide open for you?  You’ll also want to know what kind of budget…

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