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
Latest in Mortgage News: Dominion Lending Centre Unveils New Deals + MORE Oct 23rd
Dominion Lending Centres continued its growth trajectory this month with several new announcements..... More »
Mortgage rate outlook: Why experts say the next move could be lower + MORE Feb 19th
After a volatile 2025, mortgage rates have steadied, but experts say the next move could be lower, and that has implications for borrowers..... More »
Canada’s “New” Largest Brokerage + MORE Oct 19th
There’s a race underway in the broker industry, a race for scale. Brokerage firms are uniting to achieve better economies in a shrinking margin environment. And the mega-network trend is fast becoming a three-horse race, with DLC, Group Multi-Prêts Mortgage Alliance (GMP) and VERICO bein.... More »
Rates went up, so now what do you do? + MORE Jul 29th
On July 12th, for the first time in seven years, the Bank of Canada increased the overnight rate by .25%, withdrawing some of the stimulus that was needed after the oil price collapse and 2008 financial crisis. Variable rate mortgages and lines of credit will see higher rates and modest payment incr.... More »
Canadian home sales will fall to 9-year low next year, CREA forecasts Dec 18th
National home sales are projected to fall to a near decade low in 2019, as rising interest rates and strict mortgage stress-test rules continue to put a damper on homebuyer sentiment, according to the Canadian Real Estate Association..... More »
Mortgage Career: True North Mortgage – Salaried Mortgage Agents
– canadianmortgagetrends.com
Company: True North Mortgage Location of Position: Toronto, ON and Calgary, AB Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agents Job Description True North Mortgage is looking for mortgage agents for our Toronto and Calgary locations. This position comes with a base salary and […]
Mortgage Career: IMBA – Coordinator, Professional Development and Membership Services
– canadianmortgagetrends.com
Company: IMBA Location of Position: Greater Toronto Area Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agents Position Posting Co-ordinator, Membership and Professional Development Services Employer The Independent Mortgage Brokers Association of Ontario (“IMBA”) – a not-for-profit trade association Employment Commencement Date Negotiable but no […]
House rich, cash poor in retirement
– moneysense.ca
Getty ImagesQ: My wife (58) and I (57) are house rich, cash poor and just got approved for a line of credit for $600,000. We’re planning to retire at 65. We have no savings, no RRSPs and no TFSAs. When I reach retirement, I would like to get about $20,000 per year to spend on top of CPP and OAS. That’s the reason why I applied for the line of credit. Right now I’m still working and my annual income is about $70,000. If I borrow to invest, I could claim the interest on my tax return. Is it the right move or is there a better way to prepare for retirement?—T.
A: In an ideal world, we all go into retirement with a pension, investments and a paid-off house. In the real world, that doesn’t always happen. All you can do is try to plan the best course of action.
First off, the maximum CPP at age 65 is currently $12,460 and OAS is $6,765. Entitlement to CPP is based on years of contributions, while OAS is based on years of residency in Canada. These pensions are indexed to inflation…
