Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Mortgage penalty calculator + MORE Jan 22nd
If you have a closed mortgage and decide to break your mortgage contract before the agreed-upon term has expired, you’ll likely have to pay a prepayment penalty fee. A mortgage penalty calculator can help you figure out exactly how much those fees will be and will make it easier to know whethe.... More »
Beware of mortgage fraudsters…. Sep 27th
I wrote that back in 2006. Since then we have seen some provincial governments step in with laws to help protect unsuspecting homeowners. You can also purchase Title insurance or an alternative method of protection.
A couple of years ago, Toronto police said a woman used fake ID to get a $300,0.... More »
A $200,000+ income is now needed to qualify for an average mortgage in Toronto & Vancouver Dec 22nd
High home prices and rising interest rates over the course of 2022 have made it significantly harder for buyers to qualify for the average mortgage, driving RBC's affordability measure to its worst-ever level..... More »
Deferring Your Mortgage Could Cost You More Down the Road + MORE Jun 4th
Well over 700,000 Canadian homeowners have now taken advantage of various mortgage payment deferral programs offered by most mortgage lenders.
It’s no wonder there’s been so much demand, considering more than three million jobs have been lost across the country since the start of March when the.... More »
Latest in Mortgage News – Industry Announcements Nov 26th
There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »
Canadians Not Deterred By Homeownership Obstacles
– canadianmortgagetrends.com
Those dreaming of homeownership face a long list of obstacles: high prices, low supply and ever-changing mortgage rules and qualification requirements, to name a few. But that hasn’t shaken Canadians’ desire to have a place to call their own, according to the latest consumer survey from Mortgage Professionals Canada. For those who already own a […]
