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
Financial infidelity hurts, but there are ways to get past it + MORE Oct 22nd
The down payment for your home purchase is topped up, and it’s finally the day you and your partner meet with a mortgage adviser. But something isn’t clicking. When the adviser runs a credit check, your joint report comes back in shambles with unexpected outstanding debt. The adviser ca.... More »
Preparing for the next wave of renewals: Manulife’s unique solutions + MORE Apr 24th
The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it..... More »
Does it make sense for a young person to have life insurance? + MORE Nov 24th
Buying life insurance in your 20s can feel like an added cost to an already long list of expenses. But experts say it can safeguard loved ones if life doesn’t go as planned.
Do young Canadians need life insurance?
There can be a “very high temporary insurance need” for younger Canadians,.... More »
The best credit cards for newcomers to Canada for 2024 + MORE Feb 2nd
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... More »
Five-year prison terms handed to Fortress founders in mortgage fraud case Feb 22nd
The decision marks a significant enforcement outcome in a case that helped reshape scrutiny of Ontario’s syndicated mortgage market..... More »
Scotiabank’s return to competitive mortgage pricing is “huge” for brokers
– canadianmortgagetrends.com
Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, Scotia’s move on Friday to lower its broker rates, while many other lenders were continuing to raise conventional mortgage rates, “shocked the world.” The rate drops bring Scotia in line with the best broker rates offered by TD, […]
How fixed-payment variable-rate mortgages have saved Canada’s economy, and why their future could be at risk
– canadianmortgagetrends.com
Canada’s economy has so far managed to avert recession and shrug off the fastest rate-tightening cycle in the nation’s history. And one of the key reasons for that is due to the prevalence of fixed-payment variable-rate mortgages, which experts say have cushioned borrowers from the full impacts of the Bank of Canada‘s rate hikes. Fixed-payment variable rates, which are offered by banks such as TD, BMO and CIBC, mean the borrower’s monthly payment remains the same as rates increase, while […]
