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
Here’s how much a GST break could save first-time home buyers + MORE Jun 11th
The Liberal plan to give first-time home buyers a tax break on a newly built home could have substantial impacts on housing affordability—with a few caveats—a new analysis finds.
The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to .... More »
Inflation holds steady at 1.7% in May Jun 26th
May inflation figures showed marginal improvements in some of the Bank of Canada’s closely watched price figures—a step in the right direction, some economists say, but likely not enough to convince the central bank to cut interest rates.
The annual pace of inflation held steady at 1.7% in Ma.... More »
Paying down your mortgage faster comes with trade-offs + MORE Apr 18th
While extra payments can reduce long-term interest costs, they may also limit liquidity, trigger penalties and crowd out other financial priorities.... More »
Mortgage Digest: Easing homeownership costs may be short-lived, RBC says Oct 10th
Inside: mortgage arrears inch higher, Manulife teams up with M3, Haventree joins CMHC securitization programs and more career updates..... More »
Opinion: When another refinance may be the wrong answer + MORE Jun 20th
As equity shrinks and household debt rises, some homeowners are finding that another mortgage may only delay a deeper financial reckoning..... More »
Lowest Winnipeg mortgage rates: Save with Cambrian Credit Union
– moneysense.ca
When Canadians need a mortgage, they often default to the big banks—but there’s a whole other world of financing options to explore. Credit unions have competitive interest rates in Canada, including Manitoba, plus innovative mortgage options you may not be able to find elsewhere. Shopping around can save you thousands of dollars over the life of your mortgage term, enabling you to put those funds to good use in other parts of your budget.
Cambrian Credit Union has several branches in Winnipeg and Selkirk that serve Manitobans across the province. Here’s what you should know about getting a mortgage with a credit union, including how credit unions work, the key benefits of becoming a member, and how you could save money by making the switch.
Get the Best of Both Worlds
Whether you’re buying your first home, renewing your mortgage or refinancing a property, you’ll want to find the lowest interest rate available along with repayment terms that meet your needs. This might mean getting a fixed-rate mortgage or a variable-rate mortgage—it all depends on what you can afford, how long you plan on keeping your house, and how much wiggle room you have in your budget…
