Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Royal Bank backs off on fee change for payments + MORE May 22nd
(Roberto Machado Noa/Getty Images)
TORONTO – The Royal Bank is backing off on its plan to charge customers a fee to make credit card, loan and mortgage payments under certain circumstances.
The big bank (TSX:RY) says it has listened to client feedback and reversed its original decision to include .... More »
The Do’s and Don’ts When Buying a Home + MORE May 6th
Buying a home is one of the most exciting yet intimidating things to do. The idea of owning your own place is thrilling, yet the prospect of having a mortgage can terrify even those who are already financial savvy. Regardless of your price range, there are some definite do’s and don’ts when buy.... More »
National Housing Market Shows Signs of “Moderate” Vulnerability, CMHC Says Sep 26th
At the national level, Canada’s housing market showed “moderate evidence of overvaluation” in the second quarter, according to the Canada Mortgage and Housing Corporation. “The evidence of rising imbalances in some local housing markets coupled with the general weakening of h.... More »
Don’t Fear the Digital Future of the Mortgage Industry + MORE Dec 15th
There’s no denying the mortgage industry—like many others—is in the midst of a digital transformation. Depending on your perspective, that’s something that can either be feared or embraced as a new opportunity. The fear, of course, is that as the industry moves towards greater automa.... More »
The wrong way to pay off debt + MORE Sep 10th
I’ve always believed that anyone substantially mired in debt has no business fantasizing about retirement. For me, this extends even to a home mortgage, which is why I often say “the foundation of financial independence is a paid-for home.”
Sadly, however, it’s a fact that many Canadian sen.... More »
Spotlight On Mortgages: October 18, 2013
– ratesupermarket.ca
The effects of last summer’s mortgage affordability restrictions appear to be reversing. The latest CREA numbers show housing demand has recovered by 18 per cent from last September’s lagging numbers, and is up just over one per cent from August.
Keep in perspective that while this growth looks huge, it’s because last year’s market was dogged by much softer than usual demand as the OSFI-imposed amortization changes knocked buyers out of the market. Current prices also reflect this sub-par buying time – national prices are up 8.8 per cent year over year, but are skewed by recovery in urban centres like Vancouver, which saw a notable price slide when the changes were introduced, according to CREA Chief Economist Gregory Klump.
“Year-over-year increases in the sales over the past couple of months highlights how activity softened across much of the country following the introduction of tighter mortgage rules last summer,” he stated.
In Toronto, housing demand is still scorching, with TREB reporting a 21 per cent increase in sales – 13 per cent higher than the 10-year average…
Is there a better mortgage rate out there?
– canadamortgagenews.ca
You’re 2 years into your mortgage term. You got a great rate… or so you thought…? But now you aren’t sure. So much talk about record low interest rates… You begin to question.. Maybe there’s a better deal out there? Did you choose the right product and Lender? Has your mortgage advisor or […]
How to plan for the unexpected costs of illness
– thestar.com
Making financial plans for unexpected health issues is important, say financial advisors, including access to an emergency fund, even if it’s through a secured line of credit.
