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Homeowners in Saskatchewan and Manitoba are planning to spend on home renovations despite of the slowing economy according to a recent Royal Bank of Canada (RBC) survey.
The RBC survey found that 73% of Saskatchewan and Manitoba plan to make renovations on their home within the next two years. The report goes on to say that [...]
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It is first necessary to understand the definition of equity: Equity equals to the value of your home less the amount of mortgage registered secured against your property. For example, if your home is worth $300,000 and you owe $200,000 on your mortgage, your equity for your property is $100,000. The equity that you accrue [...]