Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Advice for cash-strapped renters and landlords during COVID-19 + MORE May 17th
When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
The latest in mortgage news: Half of borrowers concerned about mortgage renewals Apr 7th
Nearly half (47%) of Canadians buying or renewing a mortgage say they are concerned about qualifying for the amount they need..... More »
Canada's New Mortgage Rules Could Make Life Tough For 1/3 Of Insured Borrowers + MORE Oct 7th
First-time homebuyers may need to lower their expectations under the Liberals' new mortgage rules.
A report by Genworth MI Canada says over one-third of insured mortgages — predominantly borrowed by first-time homebuyers — would have difficultly meeting the requirements.
First-time homebuyers,.... More »
The Latest in Mortgage News: iA Exits the Residential Mortgage Market Sep 18th
After nearly 50 years of providing residential mortgages to Canadians, Industrial Alliance Financial Group announced its exit from the space this month. “This is a result of our decision to focus on investments in key sectors for the Group,” iA spokesperson Pierre Picard told CMT. “.... More »
TD launches agentic AI for mortgage and HELOC applications + MORE May 24th
The bank says its first autonomous AI model is already reducing parts of the pre-adjudication process from an average of 15 hours to less than three minutes..... More »
The five-year fixed mortgage at an advertised rate below three per cent has returned to Canada for the first time since last year.
Painting a Picture of Penalties
– canadianmortgagetrends.com
A 1/10th percentage point rate discount on the average Canadian mortgage saves roughly $800 in interest over five years. An unfavourable mortgage penalty (interest rate differential charge) on a fixed…
Bust Those Winter Money Blues
– ratesupermarket.ca
Forget robins: the real signs of pending spring – sliding mortgage rates, holiday debt repayment and the onslaught of tax season – have arrived! And while there’s still a few weeks of minus double digits to go, it’s time to set our sights – and finances – on a sunnier path.
3 Foolproof Ways To Bust Your Money Stress
Are debt worries keeping you up at night? Do you find yourself turning to credit – even for small, everyday expenses? Escaping a debt spiral can be daunting, especially the high interest credit card variety. Read on for our top tips for breaking the cycle, and taking control of your credit, once and for all.
Read Melissa’s Blog | 3 Foolproof Ways To Bust Your Money Stress
Fall In Love With A Record Low Mortgage Rate
Will mortgage rates tumble lower in advance of the seasonally hot spring market? We’ve seen five-year fixed rates go as low as 2.98% on our Best Rates table – and our expert Mortgage Rate Outlook Panel says it’s possible that more discounting could be in store…
Home expected to fund retirement for one-quarter of Canadians
– moneysense.ca
Nearly one-quarter of Canadians plan to tap their home as a primary source of income after they leave the workforce, according to the 2014 Sun Life Canadian Unretirement Index. The survey also found that more than half (56%) plan to work past the traditional retirement age of 65, most out of necessity.Still, the average expected retirement age fell to 66, the lowest level in the last four years of the survey’s existence (down from a high of age 69 in 2011).
“With people living longer and more Canadians expecting to retire sooner, it’s important to look at what savings you will need to be fully prepared and how having a financial plan can help protect against risks that can be magnified in retirement such as market shocks and health events,” Kevin Dougherty, president of Sun Life Financial Canada said in a press release.
Canadians on average expect approximately 10% of their retirement income to come from home equity, with another 30% to come from government plans, 27% from personal savings, 23% from employer pension plans, 5% from an inheritance and 6% from other sources…
CMHC Forecasts Fewer First Time Buyers
– ratesupermarket.ca
For many young Canadians, the new coming-of-age benchmark isn’t graduating from college, turning 25, or even getting married… it’s entering the property market. But the number of first time buyers is projected to be lower this year than in recent memory. What’s endangering the first time buyer segment?
Pssst: Are YOU planning to become a first time home buyer? Check out our First Time Home Buyer’s Guide, a 14-day email bootcamp that’ll lead you from house hunting and financing to renewing your rate.
Few Multi Units Up For Grabs
The Canada Mortgage and Housing Corporation’s (CMHC) Housing Market Outlook for the first quarter of 2014 projects that housing starts (i.e. the number of new units constructed) for detached single-family homes will be remain stable through 2014 and 2015. But starts for “multiple housing units” (townhouses, row houses, apartments and condos) should start to decline in 2015. The lower price point for non-detached properties, of course, makes them a popular choice for first-time buyers…
