Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Thinking of a private mortgage? Here’s what lenders want to see + MORE May 9th
Private mortgages continue to play an important role in today’s Canadian housing market, especially as traditional lending guidelines tighten. Yet many borrowers are surprised to learn that private lenders don’t simply look at one or two factors — they assess a wide range of details that can m.... More »
Nesto eyes controlling stake in CMLS Financial, media report suggests + MORE Jun 2nd
Online mortgage lender Nesto Inc. is currently in talks to purchase a controlling stake in CMLS Financial Inc.,.... More »
Why January is peak season for second mortgages in Canada Dec 18th
For many mortgage brokers, January is the busiest month of the year..... More »
Mortgage market braces for impact as one million renewals loom and defaults climb + MORE Mar 16th
Canada’s mortgage market is rebounding, with new originations up 39% year-over-year, according to Equifax’s latest Q4 Consumer Trends report..... More »
CMHC reports annual pace of housing starts in January down 10% from December + MORE Feb 17th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in January fell 10 per cent compared with December..... More »
“Performance has been stellar” on mortgage renewals so far: BMO
– canadianmortgagetrends.com
Despite facing mortgage payment increases of roughly 10% to 20%, BMO says the majority of its mortgage clients are having no issues with their renewals.
Scotiabank continues to slow its mortgage business in favour of multi-product clients
– canadianmortgagetrends.com
Scotiabank continued to deliberately slow its mortgage lending in the third quarter amid heightened economic risk and as part of its plan to be more selective with onboarding new clients.
Can you pay off your debt while saving for retirement?
– moneysense.ca
Ask MoneySense
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company pension. He has no RESP saved for his 17-year-old son and is expected to pay $8,000 in tuition fees, starting this September.
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company pension. He has no RESP saved for his 17-year-old son and is expected to pay $8,000 in tuition fees, starting this September.
At 47 years old, I have a single-family home with a $760,000 variable-rate mortgage. This is where our family lives. We are boarding an international exchange student and plan to receive a monthly stipend of $1,200. I have $200,000 saved in an RRSP. I have $60,000 saved in an RESP for my 14-year-old son’s education. Any unused amount will be converted to my RRSP.
We have a cohabitation agreement where we agreed to keep our assets and debts separate.
My goal is to retire by age 65. However, my husband is unable to pay down his mortgage as he swallows his line of credit every five years…
