Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Brokers react to the government’s “nonsense” mortgage charter + MORE Dec 1st
The Liberal government last week unveiled a "new" Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make their payments..... More »
How your rent payments can help build your credit history + MORE Oct 4th
Paying rent, much like a mortgage, can often be a person’s biggest monthly expense. Yet, there hasn’t historically been a way for renters to get credit for making these large payments on-time like homeowners. New rent-reporting platforms are aiming to change that. These platforms act as.... More »
Beware of “Friendly” Calls From Your Bank + MORE Jun 9th
For better or worse, Canadians have a lot of trust. In each other, in their government, in the places they eat, in the places they shop – and apparently in the places they bank. A 2020 survey found that seven out of 10 Canadians believe their banks have their best interest in mind when offerin.... More »
Ottawa's housing market stable according to CMHC, national outlook less certain + MORE Oct 28th
Canada’s housing market watchdog sounded alarm bells about the price of housing in several markets across the country Wednesday, claiming that overvaluation and overbuilding in markets like Toronto and Vancouver are finally showing cause for concern. Canada Mortgage and Housing Corporation (CM.... More »
Growing Trend: Buying Real Estate with Family and Friends + MORE Oct 25th
While it’s fairly common for those in tight rental markets to have a roommate to help split the rent, an emerging trend is buying real estate with a family member or friend. Faced with high home prices in big cities and tougher mortgage rules, including a new stress test on uninsured mortgages, it.... More »
Toronto real estate soars to new heights
– moneysense.ca
TORONTO – The Toronto area’s real estate market set a record last month, with nearly 13,000 homes sold, despite sky-high prices and new federal mortgage rules targeted at Canada’s most expensive housing markets.
The Toronto Real Estate Board said Friday the number of sales last month was up 10.6 per cent from May 2015 and prices were up about 15 per cent. That came one day after its counterpart in Vancouver also reported record-breaking sales for the month.
Housing bubble? Depends if you read the numbers or the market »
For a detached house in the city of Toronto, the average price last month was $1.28 million, while the average price for all homes was $782,051, TREB said.
TREB president Mark McLean said a shortage of homes for sale helped drive the rise in prices.
Finance Minister Bill Morneau has increased the minimum down payment for homes over $500,000, a measure aimed specifically at Toronto and Vancouver.
As of February, homebuyers were required to put down 10 per cent on the portion of a home over $500,000…
The Toronto Real Estate Board said Friday the number of sales last month was up 10.6 per cent from May 2015 and prices were up about 15 per cent. That came one day after its counterpart in Vancouver also reported record-breaking sales for the month.
Housing bubble? Depends if you read the numbers or the market »
For a detached house in the city of Toronto, the average price last month was $1.28 million, while the average price for all homes was $782,051, TREB said.
TREB president Mark McLean said a shortage of homes for sale helped drive the rise in prices.
Finance Minister Bill Morneau has increased the minimum down payment for homes over $500,000, a measure aimed specifically at Toronto and Vancouver.
As of February, homebuyers were required to put down 10 per cent on the portion of a home over $500,000…
Mortgage Career: Heritage Lending Group
– canadianmortgagetrends.com
Company: Heritage Lending Group Position: Mortgage Agent – Referral Programs Location: National Apply to: careers@heritagelending.com Mortgage Agent – Referral Programs Years of Experience Required: 1 year but not required Licenses or registrations required: Provincial Mortgage Licence City of Job: Canada-Wide Job Description Heritage Lending Group has a unique opportunity for forward thinking mortgage brokers. We have established professional referral partners across Canada. Our proven business model provides you with warm, qualified mortgage referrals from these partnerships. We are offering a competitive commission structure to help these clients find the perfect product to meet their needs, all while you continue READ MORE
Mortgage Marketing: Starting on a Shoestring Budget
– canadianmortgagetrends.com
By Jackson Middleton, Special to CMT If you’re just getting started as a mortgage broker, I hope I’m not the first to tell you that this is one tough business. Success doesn’t come easy and it’s a long way to the rainbow’s pot of gold. Successful brokers are very well compensated, but they get successful only after years of hard work. While the potential income is considerable, if you lack the conviction to invest endless hours into growing your business, you might as well quit now. Marketing is one area where time (not necessarily money) is mandatory. Most new agents don’t come into the business with loads of READ MORE
