Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Ask the Expert: The homeowner’s debt dilemma — should you go Bankruptcy or Consumer Proposal? Nov 24th
If you’re a homeowner facing the crushing weight of debt, you’re probably aware the two most dramatic debt resolution solutions: Bankruptcy and Consumer Proposal (CP).
A Consumer Proposal is often recommended because it is seen as gentler and less damaging than bankruptcy. But .... More »
Birch Hill and Brookfield to acquire First National in $2.9B deal + MORE Jul 29th
Founders Smith and Tawse to retain minority stakes as mortgage lender enters new chapter.... More »
Sagen sees earnings dip, offset by stronger mortgage insurance growth + MORE Nov 9th
Mortgage insurer Sagen’s premiums climbed 32% from last year as lower rates fuel housing demand, but softer investment income pulled net earnings down to $119 million..... More »
Q3 2018 Bank Earnings – Mortgage Morsels + MORE Sep 12th
The dust has settled following the latest round of big bank earnings, which unveiled another solid quarter and record earnings. The new B-20 regulations and higher interest rates so far appear to be having little effect on mortgage growth, with RBC reporting that customers are “self-adjusting.... More »
Fixed mortgage rates are rising. What’s the deal? + MORE Apr 21st
As variable-rate mortgage holders eagerly anticipate the Bank of Canada's first rate cut, fixed rates are heading in the other direction: up..... More »
The First Key to Financial Success: Becoming Financially Literate
– ratesupermarket.ca
A new year provides the perfect opportunity to mentally give yourself a clean slate and get a handle on your finances. Are you planning on saving more this year? Investing? Paying off debt? No matter your resolution, you first need to gain a clear understanding of where you stand financially.
And in order to do so, here are a few things you should know so you can best leverage your hard-earned dollars.
Your credit score
If you don’t know your credit score, you’re not alone. This is a number that many Canadians are still in the dark about, but in reality, your credit score should be common knowledge. A strong score is the gateway to better interest rates, credit approvals, and mortgage approvals.
Simply knowing the magic number might not seem useful, but it can help you figure out where you stand financially and what you need to do to improve. Because this number changes regularly based on what you owe, it’s prudent to check it regularly – at least on an annual basis. Agencies like Equifax and TransUnion offer this information through the mail for free or online for a small fee…
How to Improve Your Credit Score – Post-Holiday Edition
– ratesupermarket.ca
This monthly series by personal finance specialist Amanda Reaume focuses on how to improve something that many people overlook: your credit score. These posts will give you tips and tricks to improve your chances of getting approved for better rates when you apply for credit – leading to better student loans, car loans and even mortgages.
In January, people tend to cut back on certain expenses as they rehabilitate their credit and make up for overspending during the holidays. Less shopping, less restaurant visits, less entertaining… The effects that overspending have on lifestyle are usually pretty apparent.
But what many may not realize is how a bad credit choice can have a huge, long-term impact on your credit score. Some of these choices may seem harmless upfront, but they’ll ultimately make it harder to qualify for a low interest rate when you borrow money, whether it be for a car, your tuition or even a house.
If your credit cards are getting a workout this month, here are some common credit mistakes you may have made and some suggestions on how to fix them…
TORONTO — Canada’s federal housing agency says strong evidence of problematic conditions continues to exist in the national housing market.
Canada Mortgage and Housing Corporation says the most prevalent issues it has observed in the 15 markets it monitors are overbuilding and overvaluation, which occurs when house prices outpace economic fundamentals such as income and population growth.
CMHC first raised its overall risk rating for the national housing market to strong last October.
For second straight quarter, #CMHC detects strong evidence of problematic conditions in Canada’s housing markets https://t.co/QtWFe78wpl pic.twitter.com/CuVc87kbSN— CMHC (@CMHC_ca) January 26, 2017
It said there is strong evidence of problematic conditions in Vancouver, Victoria, Saskatoon, Regina, Toronto and Hamilton.
Edmonton, Calgary, Winnipeg, Montreal and Quebec City show moderate evidence of such conditions, the agency said.
Construction cranes on the Calgary skyline. CMHC says Calgary, along with Saskatoon, is showing some signs of overbuilding…
Strong evidence of problematic conditions persists in real estate market: CMHC
– canadianbusiness.com
TORONTO _ Strong evidence of problematic conditions continues to exist in the national housing market, as accelerating prices spill out from Canada’s two most expensive cities to surrounding areas, according to the federal housing agency.
The surging costs have spread from Toronto to Hamilton and from Vancouver to Victoria, as many homebuyers have found themselves priced out of the larger cities, Canada Mortgage and Housing Corp. said in its latest report.
“There seems to be a fanning out of those price pressures,” CMHC’s chief economist Bob Dugan told reporters during a conference call Thursday.
“Homebuyers in these centres should be prudent to ensure that their purchases are aligned with their needs, as well as the long-term market outlook.”
CMHC has also found evidence of price acceleration in Toronto and Vancouver spreading to a number of other areas that aren’t covered by the housing market assessment, such as Barrie, Ont., Oshawa, Ont., and Kelowna, B…
The surging costs have spread from Toronto to Hamilton and from Vancouver to Victoria, as many homebuyers have found themselves priced out of the larger cities, Canada Mortgage and Housing Corp. said in its latest report.
“There seems to be a fanning out of those price pressures,” CMHC’s chief economist Bob Dugan told reporters during a conference call Thursday.
“Homebuyers in these centres should be prudent to ensure that their purchases are aligned with their needs, as well as the long-term market outlook.”
CMHC has also found evidence of price acceleration in Toronto and Vancouver spreading to a number of other areas that aren’t covered by the housing market assessment, such as Barrie, Ont., Oshawa, Ont., and Kelowna, B…
