How much income do I need to qualify for a mortgage in Canada? + MORE Jun 20th

Interested in learning more about property mortgages in Canada? Look no further!

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While extra payments can reduce long-term interest costs, they may also limit liquidity, trigger penalties and crowd out other financial priorities.... More »

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When you buy a bond, there’s a chance the borrower might not be able to pay you back, but bonds also carry a different kind of risk. Duration, or interest rate risk, is related to a bond’s sensitivity to changes in interest rates. When interest rates go up, you won’t be able .... More »

How much income do you need to buy a home in Canada? A look at housing affordability in June 2025 Jul 26th

Mortgage rates continue to tick higher, and the impact is being felt in housing markets across Canada, according to the latest affordability data from Ratehub.ca. The June edition of the study, which is conducted monthly to record affordability conditions in real time, found conditions eroded in 12 .... More »

Three big banks just slashed fixed mortgage rates: “Great news” for those facing renewal

– canadianmortgagetrends.com

Lenders across the country, including three of Canada’s Big 6 banks, are once again busy slashing fixed mortgage rates—a welcome sign for those facing renewal in the coming months.

Continue Reading On canadianmortgagetrends.com »

How much income do I need to qualify for a mortgage in Canada?

– moneysense.ca

The Bank of Canada made a long-awaited rate cut on June 5, but the effects of lower mortgage rates have yet to trickle down into housing market data. That was evident in May, as real estate affordability continued to worsen for would-be home buyers.

The latest monthly affordability report from Ratehub.ca, which calculates the minimum income required to qualify for a mortgage for the average-priced home in Canada’s major markets, found the measure increased in 11 of the 13 cities studied. (Ratehub and MoneySense are both owned by Ratehub Inc.)

The report analyzes regional real estate data, as well as mortgage and stress test rates, to see how affordability is changing in real time. In May, the average five-year fixed mortgage rate was 5.49%, resulting in a mortgage stress test rate of 7.49%. (The mortgage stress test requires borrowers to prove they can afford a mortgage at a rate 2% higher than the one they get from their lender.)

May’s decline in affordability was due to a combination of stagnant interest rates—which were little changed from April—and a short-term uptick in home prices in most Canadian cities…

Continue Reading On moneysense.ca »

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