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
Housing affordability challenges leading to increased risk of fraud + MORE Mar 29th
With higher prices and interest rates putting the dream of homeownership further out of reach studies suggest Canadians are more comfortable inflating certain details of their mortgage application — a form of fraud that could have serious legal ramifications..... More »
Banks cutting variable mortgage rates to drum up business even as fixed rates rise + MORE May 18th
A number of Canadian lenders have slashed their variable mortgage rates in recent days, even as some of those same lenders are raising their fixed-rate mortgages..... More »
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 »
Is the COVID-19 emergency over? An economists prosepective. + MORE Sep 14th
I recently participated in a conference call with Scotiabank’s Chief Economist & SVP, Jean-Francois Perrault and John Webster President & CEO Scotia Mortgage Corporation. It was good to hear real financial experts make sense of what has happened and what will most likely hap.... More »
Don’t Fear the Digital Future of the Mortgage Industry + MORE Dec 15th
There’s no denying the mortgage industry—like many others—is in the midst of a digital transformation. Depending on your perspective, that’s something that can either be feared or embraced as a new opportunity. The fear, of course, is that as the industry moves towards greater automa.... More »
Rent is up, vacancy is down… rental properties make sense
– canadamortgagenews.ca
Rental properties are a secure long-term investment. Note the emphasis on “long-term”.
Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost always risen.
Sure, the last five or 10 years have seen fantastic appreciation in almost every part of Canada. But, let’s leave capital appreciation out of the equation for now.
Why aren’t we talking about rental income? Or, how about the equity growth through your mortgage being paid down each year?
RENTAL INCOME IS UP, UP, UP!
Rents have definitely gone up with inflation (or even higher, in many cases, as we have seen in urban markets like Toronto and Vancouver). This is part of what makes rental properties attractive – rent rises with inflation and, in many cases, even higher. This is how you create your own pension or retirement income!
Here we are, it’s February 2018. Click on any newsfeed about real estate and you’ll surely hear about rising mortgage rates and the anticipated falling house prices (yes, they could be declining)…
Are Brittany and Wayne on track to retire at age 59?
– moneysense.ca
Brittany and Wayne Hart are a young couple living in Pickering, Ont. Brittany, 28, earns $80,000 annually with an annual increase of about 3% as an Ontario government employee while Wayne, 33, works in sales earning $45,000 a year with 2% increases in salary annually. The couple has an 18-month-old daughter. Two years ago, they bought their home in Pickering so that both could have easy commutes to their jobs.
“Wayne works in Markham, Ont., and I work in downtown Toronto, so it was a good option for us,” says Brittany. “We really wanted to be close to work but also have a nice environment to raise our daughter.”
The couple loves to travel and is motivated to retire when Brittany is 59 and Wayne is 63. “I would love to retire at 50 but I know my husband and I will not,” says Brittany. “But retiring a little before I turn 60 is something we’d like to aim for. I just don’t know if we can do it because mortgage payments, daycare and debt repayment, we have a hard time saving much money…
