Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
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 »
Mortgage payment calculator Oct 11th
For the majority of Canadians, buying a home will be the single biggest purchase they ever make, and getting a mortgage is an essential part of this process. According to a National Bank of Canada report, the majority of variable-rate-fixed-payment mortgage borrowers who signed onto between 2020.... More »
How to protect your identity + MORE Sep 7th
We’re all on guard to protect our hard-earned money. What you might not notice, though, is when criminals seek something else that’s really valuable: your identity.
It happens every day. People who would never dream of giving out their credit card number after receiving a random call, t.... More »
Watch: What is mortgage affordability? + MORE Feb 27th
Not sure how you much can borrow to purchase a property? To find out, you’ll need to know about “mortgage affordability.” That’s how much money you are able to borrow to purchase a home. This video outlines the factors that can influence mortgage affordability and it shares everyth.... More »
How the coronavirus pandemic could change the way we think about retirement in Canada Apr 28th
Over the past few decades, the concept of retirement has grown increasingly more sophisticated. Canadians preparing for retirement have been able to contemplate a variety of highly personalized approaches—from early (or even very early) retirement; to active, phased, or working retirement; and mor.... More »
Bank of Canada holds rate, hints at increases to come
– moneysense.ca
OTTAWA — The Bank of Canada stuck with its trend-setting interest rate Wednesday — but it offered fresh, yet cautious, warnings to Canadians that increases are likely on the way.
The central bank has now left the rate locked at one per cent for two straight policy announcements after the strengthening economy prompted it to raise it twice in the summer.
In announcing the decision, the bank pointed to several recent positives that could support higher rates in the coming months. They included encouraging job and wage growth, sturdy business investment and the resilience of consumer spending despite higher borrowing costs and Canadians’ heavy debt loads.
READ: Higher rates could spell comeback for 5-year mortgages
On top of that, there’s increasing evidence in the economic data that the benefits from government infrastructure investments have begun to work their way through the economy, the bank said.
But on the other hand, the bank noted exports have slipped more than expected in recent months after a powerful start to the year, although it continues to predict trade growth to pick up due to rising foreign demand…
The central bank has now left the rate locked at one per cent for two straight policy announcements after the strengthening economy prompted it to raise it twice in the summer.
In announcing the decision, the bank pointed to several recent positives that could support higher rates in the coming months. They included encouraging job and wage growth, sturdy business investment and the resilience of consumer spending despite higher borrowing costs and Canadians’ heavy debt loads.
READ: Higher rates could spell comeback for 5-year mortgages
On top of that, there’s increasing evidence in the economic data that the benefits from government infrastructure investments have begun to work their way through the economy, the bank said.
But on the other hand, the bank noted exports have slipped more than expected in recent months after a powerful start to the year, although it continues to predict trade growth to pick up due to rising foreign demand…
