2009, the year to renovate
Announced yesterday as part of the budget was a home renovation tax credit (HRTC), a 15% tax credit on eligible home renovation expenses. Expenses have to be greater than $1,000 but not exceed $10,000 so the maximum tax credit one could receive is $1,350. Qualifying expenses include those used to renovate a kitchen, bathroom, basement, [...]
Budget benefits for first time buyers
In the budget announced yesterday there are a couple of benefits for first time buyers:
A non-refundable tax credit of up to $5000 worth in expenses on their first home. This could translate in up to $750 cash back.
The withdrawal limit under the home buyer’s plan of RRSP funds to be used for a down payment [...]
Vancouver mortgage rates, fixed and variable, all good options.
Vancouver mortgage rates, fixed and variable, all good options.
Wow, I am not sure if there is much more room for downward movement in mortgage rates but who cares, rates are so good right now it is not even funny. You would be hard pressed to feel bad about taking a fixed or a variable rate [...]
Bank of Canada lowers rate. Bank prime rate starting to follow
Bank of Canada lowers rate. Bank prime rate starting to follow
Here is a quick post as I am out the door.
Bank of Canada confirmed this morning that they have lowered their overnight lending rate by 0.5% to 1.0%. We have already start to see some banks confirming that they will pass this reduction on to [...]