Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
The Latest in Mortgage News – The Stats Are In Apr 30th
There have been a number of reports released over the past few weeks that have provided some interesting insight into the state of the housing and mortgage markets. New reports have touched on everything from 2018 renewal rates, foreign buyer statistics and credit quality to the latest financial cru.... More »
The Latest in Mortgage News: RBC downgrades its housing market forecast + MORE Jul 28th
RBC says it expects the country's housing correction to "deepen" in the coming months with resale activity and prices falling more than expected..... More »
Latest in Mortgage News: Fixed Mortgage Rates Could Fall Over Coronavirus Fears + MORE Jan 29th
As fear grows over the deadly Wuhan coronavirus that has killed more than 100 people, it is now becoming the world’s—and Canada’s—latest economic headwind. That fear spread to financial markets on Monday, with the TSX falling 142 points and New York’s Dow Jones ending the.... More »
Deferred payments on your mortgage or credit card? How to handle the strain when payments restart this fall + MORE Jul 28th
Hundreds of thousands of Canadians have deferred debt payments since COVID-19 took hold. There are some simple things you can do now to make sure you’re ready when those payments resume..... More »
Mortgage borrowing slides to lowest since 2014 + MORE Jun 14th
Canadian mortgage borrowing over the first three months of 2018 fell by $2 billion to $13.7 billion — the lowest level since 2014 — following the introduction of new lending rules and a rise in interest rates..... More »
10 Ways Brokers Can Build a Reputation on Social Media
– canadianmortgagetrends.com
In the modern age where social networking and other online tools are so prevalent, mortgage professionals need to be conscious of their reputation online. It is important to manage your mortgage business’ online reputation to give you a competitive advantage against others in your industry, build your reputation as a thought leader and expert in […]
How a young couple can kill $142,000 in debt and start investing
– moneysense.ca
iStockJulie and David live in Calgary with their two daughters, ages 10 and 7. David, 40, is a cable technician earning $150,000 annually while Julie, 37, works part-time at a retail store near home earning $6,000 annually. In 2014, their lives changed when David fell on the job and injured his left side, leaving him disabled for two years.
Through physiotherapy, massage therapy and other alternative medical care he has been able to make an almost complete recovery. “It’s been a long road but David is now back at work and is able to function at about 90 per cent of his previous abilities which is wonderful,” says Julie.
For the months that David was off work, the couple quickly started drowning in debt. Right now, they have about $142,000 in debt that includes $46,000 in high interest rate credit card debt, an $11,000 car loan, a $5,000 student loan, a $12,000 bank loan, a $52,000 line of credit, $1,250 in bank overdrafts as well as $14,000 from family and friends.
As renters, they have no mortgage but they’ve still managed to load up on debt…
