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
Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands Mar 3rd
When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likel.... More »
Are CMHC Condo Stats Skewed? + MORE Oct 29th
Canada Mortgage and Housing Corp. (CMHC) has released its housing forecast for 2016 and 2017 and it’s not as rosy as homeowners have hoped. Although the CMHC doesn’t foresee a housing bubble, the crown corporation predicts housing prices will barely keep up with the rate of inflation over the .... More »
The complete guide for first-time home buyers in Canada + MORE Mar 28th
Buying your first home is an exciting experience, but it can also be an overwhelming one—especially if you’re not sure where to start. That’s why we’ve outlined some simple steps that anyone shopping for a home should take, from figuring out what you can actually afford to getting pre-approv.... More »
Packing Less Punch: Millennials’ Home Purchasing Power Drops by $40K due to New Stress Test Rules + MORE May 6th
Millennials looking to purchase new property across Canada this year are going to have to settle for less. The average peak millennial’s purchasing power in Canada is 16.5 per cent lower than it was at this time last year, meaning they qualify for a mortgage of about $40,000 less than before.
The.... More »
The best 5-year fixed mortgage rates in Canada + MORE Oct 8th
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From high-flying social media companies to an innovative new way of typing for the future, it was a busy week in business news. The CBC’s Jacqueline Hansen gets you caught up in our business week in review.
Payment Procrastination: Why Canadians Aren’t Worried About Their Mortgages
– ratesupermarket.ca
Despite repeated warnings from the Bank of Canada, Canadians seem to be in no particular hurry when it comes to clearing away their mortgages, according to recent research from CIBC.
Historically low interest rates are driving this trend, and so is the idea of ‘good’ debt – a notion that didn’t really exist 25 years ago.
While slightly more than half of homeowners with mortgages (55 per cent) say they’re doing something to pay their mortgages down sooner, a similar poll last year found that more than two-thirds (68 per cent) were taking steps to accelerate their repayments.
Pro Tip: See how you could save over $100,000 on your mortgage by using your prepayment options>
Paying the Mortgage is No Longer Priority
In fact, CIBC reports, rather than try to work off their mortgage debt, Canadians are spending more this year on other items such as home renovations (up 30 per cent from a year ago), and summer vacations (up 20 per cent from last year).
So why isn’t everyone whittling away at their mortgage whenever they can?
Well, they could be tackling even more expensive debt…
It’s a MoneyWise Makeover!
– ratesupermarket.ca
Dear Money Wise Readers,
We’ve had a makeover! We at RateSupermarket.ca are so proud to unveil the new MoneyWise – a one-stop information centre for all things personal finance! Whether you’re looking for credit card basics, mortgage tips, or everyday budget know-how, you’ll find it here – plus the latest finance headlines, of course.
Be sure to check it out – and let us know what you think! Shoot me an email, Facebook us, or Tweet – we can’t wait to hear how you like our new look.
Why Canadians Aren’t Worried About Their Mortgages
Despite repeated warnings from the Bank of Canada, Canadians seem to be in no particular hurry when it comes to clearing away their mortgages, according to recent research from CIBC. This is despite the fact that paying your mortgage down faster can result in thousands of dollars in savings. So what’s the holdup? Turns out, high-interest debt is getting in the way.
Read Gordon’s Blog | Why Canadians Aren’t Worried About Their Mortgages
Can’t Afford a Summer Vacation? 4 Ways to Make it Happen
According to a survey conducted for the couponing site RetailMeNot…
We’ve had a makeover! We at RateSupermarket.ca are so proud to unveil the new MoneyWise – a one-stop information centre for all things personal finance! Whether you’re looking for credit card basics, mortgage tips, or everyday budget know-how, you’ll find it here – plus the latest finance headlines, of course.
Be sure to check it out – and let us know what you think! Shoot me an email, Facebook us, or Tweet – we can’t wait to hear how you like our new look.
Why Canadians Aren’t Worried About Their Mortgages
Despite repeated warnings from the Bank of Canada, Canadians seem to be in no particular hurry when it comes to clearing away their mortgages, according to recent research from CIBC. This is despite the fact that paying your mortgage down faster can result in thousands of dollars in savings. So what’s the holdup? Turns out, high-interest debt is getting in the way.
Read Gordon’s Blog | Why Canadians Aren’t Worried About Their Mortgages
Can’t Afford a Summer Vacation? 4 Ways to Make it Happen
According to a survey conducted for the couponing site RetailMeNot…
