Interested in learning more about property mortgages in Canada? Look no further!
Latest News
Bank of Canada Leaves Interest Rate at 1.75%, Markets React + MORE Jan 23rd
As was widely expected, the Bank of Canada left the target overnight rate unchanged this morning at 1.75%, where it’s sat since October 2018.
The Bank noted a few positive developments, but focused more on the downside risks.
“The global economy is showing signs of stabilization, and .... More »
Best Practices to Verify Your Clients’ Down Payments May 25th
Proving the source of your clients’ down payments can sometimes be the most time-consuming part of arranging a mortgage. Even when handled well, the process may sour the buyer experience. Your client will need to provide a comprehensive history of all the money earmarked for their down payment.... More »
The Jury Is Out on Rising Rates: Housing Headlines + MORE Jan 10th
Welcome to this year’s first edition of Housing Headlines! I’ll be rounding up and breaking down the biggest news for Canada’s mortgage market, and what it means for your bottom line. Tune in weekly!
Canada’s housing market has enjoyed banner growth over the past few years, but the jury is .... More »
TD Bank sees mortgage volumes rise 7% in Q2, gains market share May 27th
Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter..... More »
Mortgage Amortization: Should You Go Long or Short? + MORE Aug 31st
If you’re in the market for a new home you probably understand the different mortgage options. But what about amortization? Should you go short or long on your amortization, and what impact does it have on your finances?
The most common amortization is 25 years. If you have at least a 20 percent .... More »
President's Choice Fin'l – 9 year Closed : 4.67% (0.11%)
– ratesupermarket.ca
President’s Choice Fin’l 9 year Closed mortgage rate was changed on September 25, 2013
Advent Mortgage Services – 5 year Closed : 3.39% (0.71%)
– ratesupermarket.ca
Advent Mortgage Services 5 year Closed mortgage rate was changed on September 23, 2013
Spotlight On Mortgages: September 27, 2013
– ratesupermarket.ca
Where Have All The Condo Buyers Gone?
There’s less interest in Toronto’s glittering skyline these days. The August numbers from RealNet Canada and the Building Industry and Land Development Association show sales demand for high rise condos in the GTA is at a decade low – down 18 per cent year over year and 46 per cent below the 10-year average.
The condo market has long been the go-to for the first time buyer segment in Toronto and Canada’s other urban centres. High rise living has boomed over the past five years as new buyers, fueled by record low mortgage rates, snapped up units in droves. Today’s dropping sales signal a declining ability of young adults to enter the market – they simply can’t afford to buy, even at notoriously cheaper condo prices. So – where have these buyers gone?
1. They’re Living With Their Parents
Despite Finance Minister Jim Flaherty’s best efforts to cool the market, prices remain prohibitively high in the Toronto area, as land supply shrinks…
Why Mortgages And Retirement Don’t Go Together
– ratesupermarket.ca
What’s the biggest expense facing those over 55? No, it’s not health care. Instead, it’s what they shell out for home mortgages and property taxes.
While spending drops for most individuals once they’re in retirement, the bulk of expenditures go towards home-related expenses, according to data from the Employee Benefit Research Institute.
That research shows that while consumers progressively spend less money as they age, housing-related costs still consume close to half of their total expenses – leading to a new phenomenon among mortgages and retirement.
Even if older people eventually pay off their mortgages, they still end up paying out a good deal of cash on maintenance costs, utilities and property taxes — all of which never seem to go away, EBRI notes.
Why Paying Off The House Is Put On The Back Burner
Paying off the family house has always been a strong part of any money management plan since, for most people, that mortgage is an enormous obligation that hangs over them for decades…
President's Choice Fin'l – 8 year Closed : 4.56% (0.14%)
– ratesupermarket.ca
President’s Choice Fin’l 8 year Closed mortgage rate was changed on September 25, 2013
