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Mortgage Bytes

  • CREA predicts a record 500,995 Canadian home sales in 2007, with a “slight” decline in 2008.  Canada’s most expensive cities are still Vancouver ($564,373), Calgary ($420,807), and then Toronto ($379,025).  CBC Story
  • The typical cost of a 2nd property in Canada (like a vacation or rental home) is $224,400 according to Statistics Canada.  The average debt on these properties is $137,900.
  • According to a Manulife study, 45% of people with mortgages also have a line of credit.
  • Filogix, Canada’s leading mortgage technology firm, has acquired TMTG, an Internet-based marketing and training provider for mortgage brokers.  TMTG has 1200+ members and operates under a subscription model of $49.95 per month.