Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Invest or pay off debt: A comprehensive guide for Canadians + MORE Jan 17th
Your net worth is calculated by taking your assets and subtracting your liabilities. Both investing and repaying debt can boost your net worth as a result. The question is: which is better? In our guide about paying off debt versus investing, we cover the options from a number of different perspecti.... More »
U.S. existing-home sales rose to eight-month high in October + MORE Nov 21st
Sales of previously owned homes in the U.S. rose in October to the fastest pace in eight months, as buyers took advantage of lower mortgage rates and gained the upper hand over sellers in some markets..... More »
Equitable Bank’s mortgage arrears rate triples amid surge in renewals + MORE Mar 13th
Equitable Bank saw its mortgage arrears rate triple over the past 12 months now that a majority of its clients have renewed at higher interest rates..... More »
BoC official warns against playing with mortgage rules to make housing affordable + MORE Nov 9th
The Bank of Canada’s senior deputy governor is warning against adjusting mortgage rules to try to make the prospect of homeownership more affordable..... More »
How much income do I need to qualify for a mortgage in Canada? + MORE May 18th
After several years of sky-high borrowing costs, mortgage rates are (finally!) starting to ease up. That’s great news for cash-strapped Canadians currently shopping for the best mortgage rate—but it unfortunately hasn’t translated into improved affordability when buying a home.
The national.... More »
Understanding the Smith Manoeuvre: a Canadian mortgage strategy decoded
– canadianmortgagetrends.com
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 line of credit. After paying the mortgage every month, a homeowner then borrows the exact same amount of money under the line of credit, invests it, and reaps a refund after filing their income taxes. The Smith Manoeuvre effectively […]
