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
Over half of mortgage borrowers concerned about renewals Nov 1st
A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time..... More »
The Latest in Mortgage News – Is the Housing Market Turning a Corner? Aug 10th
While Vancouver area home sales are still posting year-over-year declines, signs are appearing in the Greater Toronto Area that the worst of the housing correction is now over. Experts say that likely won’t be enough to stave off a slowdown in national GDP growth, however, which in part will b.... More »
CMHC moves to make it easier for self-employed to get a mortgage Jul 23rd
Self-employed Canadians seeking to buy a home may soon find it easier to secure a mortgage in the wake of changes announced by Canada Mortgage and Housing Corp..... More »
The State of Mortgage Consumers + MORE Apr 27th
Mortgage consumer debt reached a record level in the second quarter of 2017, yet mortgage holders have proven capable of managing their increasing monthly obligations. That’s according to CMHC’s recently released Mortgage and Consumer Credit Trends report, which said Canadian households&.... More »
How much does life insurance cost in Canada? + MORE Mar 23rd
Life insurance is often touted as the financial safety net we all need, but what if it’s an added expense you’re not sure you can afford? If that’s your thinking, you’re far from alone—a 2019 study showed that most Canadians are underinsured, with 49% having never purchased life insurance.... More »
Ask the Experts: Should We Tear Down Our Home?
– ratesupermarket.ca
Welcome to RateSupermarket.ca’s Ask the Experts series! In each post, we’ll look at real financial issues from readers, and get the expert take on how they should proceed. Want to take part? Email your finance question to Penelope@ratesupermarket.ca with the subject line Ask The Experts. Here, parents Nina and Keith wonder if they should add on to their existing home to accommodate their family – or if a bulldozer is in their near future.
Keith and Nina: Drawing The Line On Home Improvements
Financial Profile:
Household income of $180,000
House value of $520,000
Remaining mortgage of $135,000
No RRSP savings, but both are on track to get healthy defined pensions through their workplaces
Education savings in place for two children, with $100 contributed to each monthly
One car, paid off
Keith and Nina need a bigger space but don’t want to move from their Scarborough-area home. They own a house on a large plot. For that reason, they are looking at two choices:
Extending their existing home…
Mortgage Career: Canada Mortgage Direct – Mortgage Specialist (Underwriter)
– canadianmortgagetrends.com
Company: Canada Mortgage Direct Location: Calgary, Alberta Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Mortgage Specialist (Underwriter) Job Description Role: To underwrite, process, approve mortgage applications and build strong working relationships with associates to increase the funding ratios and the overall portfolio. Along with working with the associate, another main key focus […]
Bank of America settles mortgage probes for $16.65-billion
– theglobeandmail.com
Deal announced Thursday calls for the bank to pay a $9.65-billion cash penalty, and provide about $7-billion of relief to struggling borrowers
Mortgage Career: VERICO Canada – Mortgage Underwriting Specialist
– canadianmortgagetrends.com
Company: VERICO Canada Location of position: Vancouver, B.C. Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Manager Mortgage Underwriting VERICO Canada is currently looking for an exceptional underwriter with great customer service and communication skills. If you have at least 5 years of experience as an underwriter […]
New Homes to Slow, Rates and Prices to Rise: CMHC Q3 Housing Market Outlook
– ratesupermarket.ca
It seems everywhere you look, there’s evidence of Canada’s booming new home construction market – but that’s not expected to last, according the the Canada Mortgage and Housing Corporation (CMHC). The national housing agency anticipates developers will stop bringing as many homes to market and will shift focus to selling what’s already built in its quarterly Housing Market Outlook, released last week.
Although both prices and new housing starts are still trending upwards, CMHC notes, the pace of construction is expected to slow significantly over the next two years.
“Recent trends have shown an increase in housing starts, which is broadly supported by demographic fundamentals. However, our latest forecast calls for starts to edge lower as builders are expected to reduce inventories instead of focussing on new construction,” says Bob Dugan, chief economist for CMHC.
The forecast predicts lower sales volumes for 2015, with 163,000 to 203,200 new homes expected to be built…
