Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Self-Employed but Need a Loan? 7 Things You Need to Know + MORE Aug 25th
Being self-employed has its pros and cons: you may have a more flexible schedule, but you also have a lot more responsibility, especially when it comes to managing your own finances.
According to Statistics Canada, 2.8 million people were self-employed in 2017. And with the swelling ranks of the se.... More »
As expected, rates are beginning to fall + MORE Jul 17th
Some good news on mortgage rates…
Mortgage Brokers are receiving good news this week from many financial institutions. Wholesale fixed mortgage rates are falling. Great news for anyone buying, refinancing or renewing their mortgage in the near future.
The news co.... More »
Why Canadian fixed mortgage rates are rising again + MORE May 15th
After briefly dipping below 4%, most five-year fixed mortgage rates at Canada’s major banks are back above the 4% mark, and could stay elevated for the foreseeable future, experts say..... More »
Lender Calls – 2017 Q3 Roundup Nov 24th
Canada’s biggest non-bank lenders have all reported third-quarter earnings. In their conference calls they outlined some of the expected impacts from OSFI’s new mortgage regulations that will take effect January 1, 2018. All unanimously forecast a sizeable decline in uninsured mortgage lend.... More »
Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
The latest update to the Consumer Price Index (CPI) basket gives even more weight to shelter costs—particularly mortgage interest and rent—underscoring just how much housing expenses are shaping the inflation experience of Canadians..... More »
Industry Keeps Up the Pressure Defence
– canadianmortgagetrends.com
More than three months after the Minister of Finance’s surprise unilateral blow to mortgage competition, the mortgage industry keeps fighting back. “There’s no hope for getting through [to officials] if we can’t keep the pressure on,” DLC President Gary Mauris told CMT. He says his firm is spending “significant” resources to defend the industry’s position that consumers are being harmfully disadvantaged by the new rules. Below are some of the various initiative presently underway to reach policymakers. Parliament Meetings On March 6th and 7th, some of the biggest names in the broker industry will be in Ottawa attending the first ever Parliament Hill READ MORE
The Most Surprising Tip to Burn Your Mortgage Faster
– ratesupermarket.ca
High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free in a short amount of time is possible.
Let me tell you how.
A little over a year ago, I paid off a 30-year mortgage on my Toronto home… in only three years.
In my new book, Burn Your Mortgage, I share the secrets to my success: simple yet effective lifestyle changes that anyone—from new buyers to experienced homeowners — can make to pay down their mortgage sooner. My tips won’t suggest you eat baked beans and Kraft Dinner every night. Rather, they’re seven simple ways to pay off your mortgage sooner, yet suited to work with your income and lifestyle.
For example, in my book, I talk about how accelerating your payments can help you burn your mortgage faster. This tip is often misunderstood but the benefits to doing this will actually surprise you…
