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
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 »
Canadian bond yields rebound sharply, sending some mortgage rates higher + MORE Jul 2nd
After being on a downward path for the past two months, Canadian bond yields have reversed course and are once again on the rise..... More »
Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
The latest update to the Consumer Price Index (CPI) basket gives even more weight to shelter costs—particularly mortgage interest and rent—underscoring just how much housing expenses are shaping the inflation experience of Canadians..... More »
Canadians opting for shorter mortgage terms as they hope for declining interest rates + MORE Jun 15th
Canadian housing mortgage rates are all over the map. Don't get trapped in an unnecessarily costly mortgage agreement.
You Don’t Need a Big Bank to Get a Mortgage - canadamortgagenews.caIt’s tough to get a mortgage these days. New and existing clients have been calling non-stop letting me.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Apr 18th
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119,.... More »
Mortgage debt taking up a record share of income
– canadianmortgagetrends.com
Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household disposable income on servicing their mortgage debt, up from 7.5% in the previous quarter and 7.09% a year earlier. That’s a record high according to data going back to 1990. Looking at total overall debt obligations, the average debt-to-service […]
