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 leaves mortgage stress test in place, reaffirms LTI limits for lenders + MORE Jan 29th
OSFI offered no new direction on the qualifying rate, but reiterated that loan-to-income caps for uninsured mortgages remain in place and opened a new six-month consultation tied to its broader guidance review..... More »
1.4 million Canadians missed a credit payment in second quarter + MORE Aug 20th
There’s a deepening divide among consumers, even as the rate of missed credit payments dipped, a new Equifax Canada report shows.
It shows 1.4 million Canadians missed a credit payment in the second quarter. While that’s up by 118,000 compared with the same time last year, it’s down sligh.... More »
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 »
5 surprises to avoid when switching mortgages before your term ends + MORE Jul 31st
These days, being a home owner with a mortgage can feel like you’ve ordered the chicken dinner before realizing there was a steak special. You orchestrate a last-minute switch before your meal arrives, and it’s only once your overcooked steak is served that you know you’ve made a mistake.
.... More »
Desjardins sees mortgage growth drive stronger first-quarter earnings + MORE May 15th
Residential mortgages now account for nearly two-thirds of Desjardins’ loan book, while impaired mortgage loans remained relatively stable despite ongoing economic uncertainty..... More »
Meet Bloom, Canada’s Newest Reverse Mortgage Provider
– canadianmortgagetrends.com
There’s a new reverse mortgage provider in town. Bloom Finance Company rolled out its reverse mortgage product for Ontario homeowners this week.
The Broker Channel Gets Another Prime Lender: Strive Capital
– canadianmortgagetrends.com
Strive is live. It’s Canada’s latest prime lender in the mortgage broker market.
Post-election 2021 update: Would the parties’ housing proposals help you afford a first home?
– moneysense.ca
Now that the election is in the rear-view mirror, it’s time for our elected officials to get to work implementing their campaign promises—which included making housing more affordable. Indeed, with home prices continuing to rise into the stratosphere, all three major political parties spent a considerable amount of time and energy promoting their “solutions” to help first-time buyers get a foothold in the real estate market.
Get the mortgage rate that works for you.Find the best rate for you in under 2 minutes at ratehub.ca. Let’s get started.I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
Get the mortgage rate that works for you.Find the best rate for you in under 2 minutes at ratehub.ca. Let’s get started.I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
Of course, because the Liberals have formed another minority government, they’ll need the support of the other parties to get anything accomplished, which means compromise is a must. So, it’s worthwhile to take a look at where the Liberals, Conservatives and NDP stand on housing policy, and whether their approaches would help you afford your first home…
