Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
3.4 million Canadians will renew their mortgages by 2025: Royal LePage - Financial Post + MORE Oct 26th
3.4 million Canadians will renew their mortgages by 2025: Royal LePage Financial PostSurvey finds Canadian homeowners fret over mortgage renewals Toronto StarMortgage renewal: New survey says many concerned about rising interest rates CTV News OttawaInterest rates: H.... More »
2023 mortgage market year in review Dec 31st
As we wrap up a year full of economic twists and turns—and interest rate ups and downs—we wanted to look back at some of the top mortgage-related stories that graced our pages in 2023..... More »
How to improve your credit score with rent payments in Canada + MORE Feb 8th
If you’re renting in Canada, you might not think that your monthly rent payments have anything to do with building your credit score. While home owners can strengthen their credit profile through mortgage payments, renters traditionally haven’t had the same opportunity. After all, paying rent is.... More »
With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase + MORE Jun 9th
Over two thirds (68%) of Canadians say they plan to wait until mortgage rates drop before they decide to purchase a house..... 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 »
Watch: What is the mortgage stress test?
– moneysense.ca
If you’ve purchased a home in the last several years, or plan to buy one soon, there’s a good chance you’ve heard about the mortgage stress test. Since 2018, the stress test has served as a set of rules banks and lenders use to determine if you qualify for the mortgage you want. It’s possible to have passed the stress test without even knowing it, so it’s good to review how it works.
This video outlines what the mortgage stress test is, why it was created, and how it applies to all Canadian home buyers, whether you are applying for your first mortgage or renewing or refinancing an existing one.
Watch: MoneySense – What is the mortgage stress test?
More on mortgages:
MoneySense Toolkit: The mortgage affordability calculator
How much mortgage can I afford?
A guide to five-year fixed mortgage rates
A guide to five-year variable mortgage rates
The post Watch: What is the mortgage stress test? appeared first on MoneySense.
