On Thursday, June 21st, the Government of Canada announced changes to government backed insured mortgages, effective July 9th 2012. The new rules are as follows:

1. The maximum amortization period is reduced from 30 years to 25 years for high ratio applications (those who have less than 20% of the property value for a down payment). Banks may continue to offer a 30 year amortization on those borrowing 80% or less of a property's value.

2. Refinancing is reduced from 85% of the equity in...

Basement renovations are on the "most wanted" list of home improvements for many families as they look to expand quality living space in their homes. An unfinished basement is just an opportunity waiting to be exploited and a great way to increase the square footage of your home!

Keep in mind that these can be expensive renovations, but expect your improvements to return from 50% to 75% of the money you invest according to the Appraisal Institute of Canada. Doing high-quality work yourself,...

The surprise announcement that mortgage rules will change again on July 9 has many homebuyers scrambling to get in under the wire with the old rules.

These latest new rules – amortization limit of 25 years and refinance limits of 80 per cent - are designed to lower debt levels, enforce some belt-tightening, and promote savings through home ownership. You should get in touch with me now if you are planning to buy or have a mortgage pre-approval with an amortization of 30 years. You must...

Upgrades to improve your home's energy consumption - new windows and doors, or furnace and heating system improvements - can give you immediate savings on your energy bill and help reduce the strain on our planet. These renovations are also on the list of top renovations that pay – returning 50% to 75% of the money invested according to the Appraisal Institute of Canada.

Often the primary payoff comes in reduced energy bills. So if you're staying in the home for several years, you'll...

Upgrades to improve your home's energy consumption - new windows and doors, or furnace and heating system improvements - can give you immediate savings on your energy bill and help reduce the strain on our planet. These renovations are also on the list of top renovations that pay – returning 50% to 75% of the money invested according to the Appraisal Institute of Canada.

Often the primary payoff comes in reduced energy bills. So if you're staying in the home for several years, you'll...