Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Inflation data and Bank of Canada decision lead busy week for mortgage watchers Mar 16th
Inflation, home sales and two central bank rate decisions could shape expectations for borrowing costs and the spring housing market..... More »
Life Insurance vs. mortgage insurance: Let’s break it down + MORE Mar 20th
Life insurance can be a necessity for ensuring your loved ones are taken care of after you’re gone. It can help them pay for funeral expenses, the costs of everyday living and much more. But one of life insurance’s main advantages is that it can pay off outstanding debts, including a mortgage. S.... More »
Understanding the Smith Manoeuvre: a Canadian mortgage strategy decoded Jan 6th
For nearly four decades, Canadians have turned to an investment strategy of writing off the interest from mortgage payments as tax-deductible. Known as the Smith Manoeuvre—after its creator, financial planner Fraser Smith—the strategy involves getting a readvanceable mortgage, which includes a l.... More »
The Canadian mortgage stress test, explained + MORE Jul 19th
The Canadian mortgage stress test applies to anyone applying for a mortgage, refinancing their current home loan, or renegotiating the terms of their mortgage contract with a federally regulated lender. And while provincially regulated lenders have more flexibility when it comes to mortgage app.... More »
Fixed-Rate Increases Costing Today’s Homebuyers Over $10,000 More in Interest + MORE Nov 13th
Fixed mortgage rates have been climbing steadily since September. But by how much at what cost for new homebuyers?.... More »
The Latest COVID-19 Mortgage News: Toronto Real Estate Sales Plunge 37%
– canadianmortgagetrends.com
New data suggests homes sales in Toronto dropped 37% last week compared to the same time last year, according to Realosophy Realty. The firm also says cancelled listings jumped by 27% as thousands of Canadians now find themselves out of work, putting into question the near-term future of Canada’s real estate market. “The market has definitely hit the brakes,” John Pasalis, president of Realosophy Realty, told BNN Bloomberg. While home prices are expected to remain stable in the near-term as […]
People deferring their mortgage payments are making an unpleasant discovery: it can wreck your credit rating
– thestar.com
Deferring payment on your mortgage buys you time to deal with COVID-19’s economic havoc, but the people behind your credit score might just see bad news.
