By: Betty Durocher

New Changes Coming to Mortgage Rules

Tags: uninsured mortgage, down payment, lender, guideline B-20

Last month the Office of the Superintendent of Financial Institutions (OSFI) confirmed the implementation of a new minimum qualifying stress test for uninsured mortgages. Guideline B-20 now requires borrowers who have a down payment of 20% or more to qualify for a mortgage at a higher rate. Borrowers will have to be approved at either the five-year mortgage rate published by the Bank of Canada (cu...Read More

By: Betty Durocher

Be Mindful of Changes In Home Insurance

Tags: home insurance,extreme weather,storms,liability,coverage

There's no doubt an overall increase in the number of extreme weather events has caused the insurance industry to undergo significant changes. While no one can predict the frequency or location of major storms, there is an industry consensus that the intensity of storms is becoming more severe and that insurance companies need to protect themselves against the associated risks. This new realit...Read More

By: Betty Durocher

Kitchen Cutting Boards Can Accumulate Bacteria

Tags: cutting boards,food contamination,sanitize,

Butcher block, countertop and portable cutting boards are popular kitchen work areas but these utilitarian surfaces can be the source of harmful bacteria. To ensure your prep surfaces do not contaminate your food, be sure not to cut fruit and vegetables on the same surface as raw meats, poultry or fish, unless the surface has been sanitized between tasks. Any cutting area, plastic or wooden, will ...Read More

By: Betty Durocher

Check Your Air Conditioner's Exterior Unit For Optimum Performance

Tags: summer, air conditioning,cooling,

Before the height of summer arrives, check your central air conditioning's exterior unit to ensure it is ready to provide you with maximum cooling while using the least possible amount of energy. First, confirm the power is off. Then, check that the box sits level, and remove any objects or plants that may restrict its expulsion of interior heat. Remove the outside screen(s) and clean the fan,...Read More

By: Betty Durocher

New Windows Are a True Home Improvement

Tags: windows,energy efficiency,quote,longevity,guarantee

  It's easy to think of your home's windows as being visual enablers that merely allow daylight to come in and you to look out. However, in addition to that function, windows need to perform, almost as well as walls do, in their role as barriers that protect you from the outside environment. As a homeowner, if you neglect this factor, you may be compromising the comfort and energy ef...Read More

By: Betty Durocher

At Home With Security, Even When You're Not

Tags: security,technology,affordable,smartphone,alarm

If the hallmarks of advanced technology are portability, flexibility and economy, then home security systems may provide the best examples of progress in recent times. For example, in addition to cameras and alarm systems that can be managed and monitored from your smartphone, you can now install a surprisingly affordable system that alerts your phone to motion in specific areas within your proper...Read More

By: Betty Durocher

Make Small, Darker Rooms Look Brighter

Tags: infuse light, reflective colours,glass,shiny materials,sidelights

As daylight becomes noticeably reduced late in the year, it may become more difficult to enjoy the natural ambience of smaller, darker rooms.  However, a few decor decisions can utilize both daylight and artificial light to make such rooms like larger and brighter. Infuse lighter, more reflective colours wherever possible, from highly polished floors and light coloured floor coverings to gl...Read More

By: Betty Durocher

The Benefits of Downsizing

Tags: downsizing,financial freedom,less maintenance,convenience,more options

If your home is becoming difficult to manage, you may want to consider how downsizing might help:    More Financial Freedom?: Presuming? your next home is smaller and more affordable, you'll have greater ability to address other monetary interests, whether it's enjoying travel options, helping the kids secure their first home, or establishing an education fund for grandchildre...Read More

By: From the Province of Ontario's website.

Land Transfer Tax Changes

Tags: land transfer tax,first time buyers,buyer rebate

The Province is proposing to modernize Ontario’s Land Transfer Tax (LTT) system to reflect developments in the real estate market, by: Enhancing support for first-time homebuyers; Updating LTT rates and brackets; and Restricting the refund for first-time homebuyers to Canadian citizens and permanent residents. Doubling the Maximum Refund for First-Time Homebuyers To help Ontarians bu...Read More

By: Steve Carley, AMP, Senior Manager, Mobile Mortgage Specialist TD CanadaTrust Fall/Winter 2016

New Rule Changes For Insured High-Ratio Mortgages

Tags: CMHC,mortgage rules,high-ratio mortgages,down payment,

On October 17th, 2016, Federal Government Regulators made further changes to how CMHC can qualify borrowers who have less than a 20% down-payment.  All insured homebuyers must qualify for mortgage insurance at an interest rate, the greater of their contract mortgage rate or the Bank of Canada's conventional 5 Year Fixed Posted Rate.  This requirement was already in place for High-Rat...Read More