Brokers react to the government’s “nonsense” mortgage charter + MORE Dec 1st

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Recognizing leaders in Canadian mortgages: New inductees join the Hall of Fame + MORE Nov 3rd

This week, Canada’s mortgage industry gathered to celebrate the remarkable achievements of this year’s Mortgage Hall of Fame inductees..... More »
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CMHC reports annual pace of housing starts dropped 17% in October Nov 18th

Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell 17% compared with September..... More »

Part 1: Beating the Math:  Why Politicians Are Failing Homebuyers and What you can do. Apr 21st

If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the .... More »

Breaking a mortgage for better rates can pay off – but beware of the costs + MORE Oct 7th

Interest rates are dropping, but many Canadians are still feeling the hangover of the highest lending costs in a generation..... More »

Scotiabank hits “inflection point” with successful multi-product mortgage strategy + MORE Sep 1st

Deposit growth strategy pays off as Scotiabank strengthens customer relationships amid mortgage volume dip.... More »
Some new and innovative mortgage products have recently emerged to help Canadians manage the current high interest rate environment, perhaps most talked-about being True North Mortgages 1-year 4.99% fixed rate term.

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The Liberal government last week unveiled a “new” Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make their payments.

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Getting your credit in order is an important part of managing your personal finances. If you have a less-than-perfect credit score and are struggling to get approved for a credit card, mortgage or other line of credit, you may be tempted to use a credit repair service.

Some companies claim they can repair your credit and solve your debt problems quickly. However, you can only rebuild credit and there’s no quick fix to do so. We’ll walk you through why you should be skeptical of companies offering credit repair services and explore other ways to rebuild and maintain strong credit. 

The best credit cards for bad credit
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The importance of strong credit in Canada

It’s important to have a good credit score so you can get a loan, be approved for a credit card, buy a home and a car. And you want to get the best interest rates when doing so. A credit score may also determine whether a landlord approves your rental application, and employers might even consider credit histories in their hiring process…

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Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it’s bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.

Continue Reading On canadianmortgagetrends.com »

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