I recently read an article from the Globe and Mail on possible cracks in the real estate market in Canada. Whether or not we'll have a real estate collapse in Canada doesn't really matter as much as being prepared for one is! So called mortgage professionals are selling variable rate mortgages like they're "hotcakes" without helping a client determine their risk for such products. That is how "bubbles" get created: by not examining the risks of our choices and planning for them.
ADVICE: at least take the time to "prepare" for the worst and you'll do just fine in any economy!
Thanks for reading!
Your London, Ontario Mortgage Brokers at Dominion Lending Centres Forest City Funding FSCO# 10671