Tag Archives: prime rate

Canadian Government to People: No Housing Drama Here

From my home in Montreal, I have a good view of the U.S. real estate market. The housing correction has had a serious impact on the American economy. As home values have decreased, many people owe more on their mortgages than their homes are worth. The number of foreclosures and short sales has increased significantly.
The Canadian government has recently implemented new standards to prevent a similar occurrence in this country. The impact of these rules on relocation is that employees being transferred to higher cost cities such as Toronto and Vancouver might not qualify for a new mortgage based on [...] Read More