Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
The best 5-year fixed mortgage rates in Canada + MORE Oct 8th
Mortgages
The best 5-year fixed mortgage rates in Canada
You’re 2 minutes away from getting the best mortgage rates in Canada. Just answer a few quick questions to get a personalized rate quote.
I’m buying a home*
.... More »
Bond Yields Surge, Mortgage Rates Rising in Response + MORE Feb 24th
Canadian bond yields hit their highest level since April in recent days, and a number of lenders have responded by starting to raise some of their mortgage rates. CMLS, MCAP and First National were among the non-bank lenders to increase at least some of their rates, with their broker rates rising 10.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Jun 20th
The Bank of Canada made a long-awaited rate cut on June 5, but the effects of lower mortgage rates have yet to trickle down into housing market data. That was evident in May, as real estate affordability continued to worsen for would-be home buyers.
The latest monthly affordability report from Ra.... More »
Alterna Bank’s Fully Digital Mortgage Apr 6th
You can’t get a mortgage without talking to someone. Online mortgages are an invitation for fraud. You can’t assess mortgage suitability online. Digital signatures aren’t safe. You can’t cross-sell an online mortgage customer. These are the modern-day urban myths of Canada&.... More »
The real costs of buying a car Mar 31st
The thrill of driving a new car off a dealer’s lot is appealing, but experts warn not to let the new car smell go to your head when it comes to borrowing money to make it happen.
Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know.... More »
Garage and basement renovations for any budget
– moneysense.ca
(Genuwine Cellars)Basement renovation ideas
According to Statistics Canada, basement renos are popular, what with adult children moving back in and the desire for young families to create a mortgage-helper rental suite.
But below-grade upgrades don’t come cheap. For basic finishes, without a bathroom or kitchen, expect to pay at least $20,000. The best way to spend your dollar is on multi-purpose rooms with a focus on materials that can withstand moisture. One good option is commercial-grade vinyl flooring ($4.50/sq. ft. + $2/sq. ft. for installation). Now, if you want to add warmth to your basement consider in-floor heating under ceramic tile or poured, sealed concrete ($8.75/sq. ft., installed). Basic electric in-floor units start at $3.75/sq. ft. for installation, while installed hydronic units start at $28/sq. ft. Consider cutting costs by installing electric mats under cheap carpet (the thinner the better) with a foam underlay.
Then focus on light. “We spend all this money on furnishing and fixtures, and no one can see them because the lighting is wrong,” says Jerilyn Wright, a Calgary-based designer…
When buying a home, avoid a House of Cards
– moneysense.ca
Frank Underwood, the ruthless politician played by Kevin Spacey in the hit Netflix series House of Cards, is a rather quotable guy. Not a very nice guy, mind you, but quotable nonetheless. Among Frank’s many axioms is this gem: “Pay attention to the fine print. It’s far more important than the selling price.” The fictitious (thankfully) Washington Democrat was gloating about how he had deviously maneuvered a bill through the U.S. Senate, but Underwood could have just as easily been talking about the process of buying a home and getting a mortgage.
Sure, the selling price of a house is pretty important but there are a number of equally important details that are often overlooked. If you’re buying a home, think like Frank and look beyond the selling price. Here are five factors to consider.
Is this your forever home?
There are a lot of out-of-pocket expenses that come with buying and selling a house: home inspections, legal fees, moving services, land transfer taxes and assorted closing costs (like beer and pizza on moving day)…
Q4 2016 Bank Earnings – Mortgage Morsels
– canadianmortgagetrends.com
Another bank earnings season is in the bag. It was a quarter where Canada’s Big 6 banks addressed analysts about the changing regulatory landscape. There was also a sharper focus on uninsured mortgage portfolios. National Bank analyst Peter Routledge addressed the issue in a recent note to clients: “With uninsured mortgages driving an increasing portion of overall mortgage and loan growth…the consequences of a decline in housing prices—most notably in the Toronto and Vancouver markets—weighs more heavily with each passing quarter.” As usual, we’ve picked through the Big Banks’ quarterly earnings reports, presentations and conference calls, and compiled all the mortgage-related goodies here. Notable tidbits are highlighted READ MORE
