Should you go fixed or variable? Or both? This is the question many homeowners ask. In my latest video I explain the difference between them and highlight one of the misconceptions people have with variable rate mortgagees.

I also offer some very basic advice to help you decide which is better for you. In my opinion the decision should only be made within the context of your current financial situation. For some people a variable can be too risky, for others it is perfectly acceptable.

As always if you have any questions please contact me.

I decided to do a series of video posts answering frequently asked questions. I have started today with a video explaining the following question:

“Can I buy a house and put my debt into my mortgage at the same time?” –

The answer is no. In the video I describe why this is and where the confusion usually comes from.

I will have an unedited transcript of the video in the next few days once I get a chance.

If you have a question you would like me to answer feel free to contact me.

Jim Flaherty changed the mortgage rules on April 19. The changes were designed to prevent Canadians from piling on too much debt.

Most of the changes will have a minor impact on the overall housing market.

In Kelowna the change is going to impact first time buyers who have been relying heavily on rental income to qualify for our expensive homes.

I believe these changes will force more first time buyers into affordable condos and townhouses because rental income will not work as well.

What do you think?