Every mortgage calculator you will ever need + MORE Mar 20th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.

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70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st

Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »

Mortgage Digest: 5 big banks cut fixed mortgage rates following bond yield drop + MORE Feb 17th

Mortgage providers nationwide have been gradually lowering their fixed mortgage rates, including five of the country's Big 6 banks..... More »

I need to lower my monthly mortgage payments. Is extending my amortization period a good idea? Nov 16th

An extra five years might not seem like much, but the difference can be startling, says one expert..... More »

The mortgage pro’s guide to AI: What to use, when, and why it matters + MORE Jul 8th

From writing emails and analyzing client data to brainstorming marketing ideas, mortgage professionals are embracing AI to work more efficiently. But knowing which tools to use—and how to use them wisely—can make all the difference..... More »

Housing market slowdown continues with sales and average prices well down from last year - CBC News + MORE Oct 14th

Housing market slowdown continues with sales and average prices well down from last year CBC NewsReal estate: Canadian home sales continue to slow CTV NewsCREA reports home sales in typically busy September continued to slow NewmarketToday.caCanada’s average home p.... More »

Why the mortgage stress test isn’t the villain it was made out to be

– moneysense.ca

There is no question that the mortgage stress test—a mortgage qualifying tool that limits the amount you can borrow to purchase a home—has been a thorn in the side of many mortgage professionals, realtors and aspiring homeowners across Canada.

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Industry experts have noted the stress test restricts first-time buyers and move-up buyers from entering the marketplace. It also limits existing homeowners in their ability to access the equity in their homes through having to re-qualify for their mortgage using the stress test qualifying rules.

It’s for these reasons that a tool designed to protect Canadians became a villain in the eyes of many people with homeownership dreams and those wanting to serve them. So, is that reputation really warranted?

What is the purpose of the stress test?

The stress test was introduced in 2016 to address high levels of household debt in Canada…

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Every mortgage calculator you will ever need

– moneysense.ca

Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for mortgage payments, property taxes, insurance premiums, utilities and maintenance.

To get a clear picture of how a home purchase impacts your finances, you’ll need to determine how much you can afford on a mortgage and how much you can spend in total on a home, as well as how these factors affect your overall housing costs. Fortunately, mortgage calculators let you model this information, helping you make sound financial decisions about what will likely be the most important purchase of your life.

Why should you use a mortgage calculator?

You wouldn’t buy a car without knowing what it would cost you on a monthly basis, and you shouldn’t buy a home without an accurate idea of how it will impact your finances, either…

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