Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Early cracks in household credit hint at mortgage stress by 2026, CIBC’s Benjamin Tal warns + MORE Nov 6th
Household credit strain is creeping in at the edges, and CIBC economist Benjamin Tal says it could spread to mortgages as payment shocks peak next year..... More »
Should I sell and rent or get a reverse mortgage? + MORE Jul 7th
I’m an 82-year-old widowed woman, and my savings are depleting fast. I feel privileged, as I have the luxury of owning my own two-bedroom, one-bathroom condo.
I have two options: to selI and rent a one-bedroom apartment, probably starting at $2,000 a month, or staying in my home and getting.... More »
Online-only mortgage services often seem to have better rates — but can you trust them like you can trust a bank? + MORE Mar 29th
Expert says online services such as Homewise, Nesto and Pineapple don’t impact the fundamental way that mortgages are underwritten. It’s just the front end that’s different..... More »
Listening, understanding, empowering: The client-centric values behind HomeEquity Bank Nov 15th
Partnering with mortgage brokers to put clients first..... More »
My advice is simple: Over 50? Get a secured line of credit while you can qualify. + MORE Nov 15th
Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend.... More »
Debt Consolidation Tip: Pay less interest!
– canadamortgagenews.ca
The beginning of the year is typically tough financially for most of us. Holiday bill payments, RRSP contributions, property tax bills, etc. And, if you’re self-employed, you probably have to make some sort of business tax or corporate tax payment. If December is the Holiday Season, then January and February feel like a hangover!Banks and credit card companies love this time of year because this is when we’re most likely to carry a balance, forcing us to pay those crazy interest rates that range from 9% to 24%.
But, wait! Before you get too depressed, there may be a better option. There’s a less expensive way to manage your debt.
DEBT IS DEBT, JUST PAY LESS INTEREST
Canadians seem to think debt consolidation is a dirty word. Studies show that we’re paying down our mortgage balances faster (I like that trend), except we’re carrying other higher-interest debt such as car loans, unsecured lines of credit and credit card balances.
The big problem here is that these non-mortgage debts carry extremely high interest rates ranging from 6% to 24%…
The Latest in Mortgage News – Is the Correction Almost Over?
– canadianmortgagetrends.com
A number of news items in recent weeks have focused on the state of Canada’s housing market, with some hinting the worst of the correction may be behind us, and others suggesting more weakness to come. For example, CMHC says overvaluation risks are subsiding in some of the country’s hottest markets, while the B.C. government […]
