Main Menu
In the News
Special Contributors
Special Report - Bedding
Events Calendar
Contact HGO
Merchandiser Summer 2014
Merchandiser Spring 2014
2014 Product Guide
Research Store

Canada Counts
A survey of Canadian buying intentions.
Purchase Report



Please Update Your HGO Profile

BRIGHTON, Ontario (30 June 2014) – Home Goods Online wants to improve our news delivery service for everyone in Canada’s furniture, mattress, major appliance and consumer electronics industries. So, we’re not only signing on with a new service provider but we’re asking each of our readers to give us a few moments of his or her time to update their individual profile.

Doing so will not only ensure that HGO is in compliance with current federal legislation, but will strengthen our connection with you, the reader.

Click here to update your profile.  It will only take a few moments of your time.

Here at Home Goods Online, our only mission is to keep every member of Canada’s furniture, mattress, major appliance and consumer electronics industries up-to-date on issues of vital importance as well as the news everyone needs to know, regardless of your role: retailer, manufacturer, distributor/importer, sales rep or other industry professional.

Thank you for your help.

Update Your Profile Now
Mortgage rules change in Canada PDF Print E-mail
Written by Tom Philp   

OTTAWA - The days of zero down and a 40-year mortgage are likely over for Canadians. Starting 15 October, the federal government will no longer guarantee a four-decade amortization with no down payment.

The government announced this week that mortgages will be limited to 35 years, require a minimum five per cent down payment, and be federally insured for only 95 per cent of the value of the home. At the same time, anyone borrowing mortgage funds must have a good credit rating and demonstrate that their debt servicing costs are not greater than 45 per cent of gross income.

At least one critic opined that with the Canadian housing market just beginning to cool after more than five years of rapid growth, the timing of this government decision will likely slow housing sales even more and depress home prices.

Liberal MP Garth Turner, the author of a book warning about a possible Canadian housing downturn, says the government's decision could trigger a devaluing of homes by about 15 per cent nationally and as much as 30 per cent in boom towns like Edmonton, Calgary and Vancouver. It could also prompt Canadians to move quickly to beat the October deadline.

The federal finance department said forthcoming mortgage rule changes are designed to avoid any mortgage crisis that could mirror the sub-prime mortgage fiasco in the U.S., rather than pointing to any fundamental problems in the Canadian system.

<Previous   Next>



Picture of the Day
Cantrex-golf-presentation (1)

Some 145 people from across the industry took part in Cantrex Nationwide’s annual charity golf classic recently. This year, some $10,000 was raised to benefit the ‘Take the Kids to Camp’ initiative of the Salvation Army. Here, Lt. Col. Sandra Rice (left), commander of the Ontario Central East division is accepting a cheque from CNW chief operating officer Jeannine Ghaleb and Jim Mahoney, vice president of photography and consumer electronics.



Donald Cooper
My Turn!
HGO Merchandiser
Upcoming Events
Toronto Gift Show
August 10, 2014 - August 13, 2014

View Full Calendar