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
OSFI says mortgage payment shock poses a key risk to Canada’s financial system May 24th
Canada's banking regulator says high borrowing costs and a wave of expected renewals pose a key risk to Canada's financial system..... More »
Latest in Mortgage News: OSFI leaves stress test rate unchanged + MORE Dec 13th
Canada’s banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged..... More »
The Broker Channel Gets Another Prime Lender: Strive Capital + MORE Sep 23rd
Strive is live. It’s Canada’s latest prime lender in the mortgage broker market..... More »
Toronto and Vancouver mortgage arrears set to hit highest levels in 10 years, CMHC warns + MORE Nov 15th
Mortgage arrears in Toronto and Vancouver are on track to rise to levels not seen in over a decade, according to a new forecast from Canada's housing agency..... More »
Why Canadian fixed mortgage rates are rising again + MORE May 15th
After briefly dipping below 4%, most five-year fixed mortgage rates at Canada’s major banks are back above the 4% mark, and could stay elevated for the foreseeable future, experts say..... More »
Combatting Mortgage Fraud: Scrap The Status Quo
– canadianmortgagetrends.com
Canada’s conservative nature means that we have a tendency to abide by the status quo, remaining committed to tradition and the processes that have historically worked in our favour. Fortunately this approach has, in many ways, proven valuable, cushioning us from the damaging effects of various economic downfalls, including the financial crisis of 2008. But with […]
Death, taxes and interest payments! Part 1 of 2.
– canadamortgagenews.ca
Death and taxes, the only two things that are certain in life. You’ve heard this one before. I think there is a third thing that can be just as stressful, ‘interest payments’ (before this article becomes too depressing, I’m going to share some things that will help to reduce our interest costs and minimize our taxes).
Paying interest on your credit cards, loans, lines of credit or mortgage is something all of us will experience at some point in our lives or, for many of us, for most of our lives. ‘Paying interest and taxes can be the death of us’. That’s because taxes and interest payments account for as much as 67% of our gross incomes. That’s right, 67%!!
Tax Freedom Day (the day in which Canada, as a whole, has earned enough income to pay all their taxes for the year) this years was June 14th. Any income earned up to this point was paid over to the government. Any income after this date is paid to yourself. It’s hard to know exactly how much tax you really pay given there are several hidden taxes such as alcohol, amusement, gasoline tax, property taxes, HST, etc…
Paying interest on your credit cards, loans, lines of credit or mortgage is something all of us will experience at some point in our lives or, for many of us, for most of our lives. ‘Paying interest and taxes can be the death of us’. That’s because taxes and interest payments account for as much as 67% of our gross incomes. That’s right, 67%!!
Tax Freedom Day (the day in which Canada, as a whole, has earned enough income to pay all their taxes for the year) this years was June 14th. Any income earned up to this point was paid over to the government. Any income after this date is paid to yourself. It’s hard to know exactly how much tax you really pay given there are several hidden taxes such as alcohol, amusement, gasoline tax, property taxes, HST, etc…
