Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Rates are at all time lows Sep 20th
Rates are at all time lows and are expected to stay that way for a while! This means payments can’t go much lower. Let’s put interest rates and mortgage costs in perspective.
Here is what MORTGAGE PAYMENTS on a $400,000 mortgage look like with a 30 year amortization:
.... More »
Reverse Mortgages growing in popularity… Product of the year 2018? + MORE Feb 23rd
Mortgage stress test is the buzz phrase in mortgage lending for 2018. Every borrower, regardless of how much down payment you’re making, must pass a stress test to qualify for a mortgage. The math is simple, yet intimidating. Lenders must now use your mortgage contract rate PLUS 2.00% to qual.... More »
B2B Bank + MORE Aug 15th
Company: B2B Bank Position: Business Development Manager (x2) Location: Vancouver, BC; Halifax, NS Business Development Manager (x2) NOTE: These roles are based in: Suburban Vancouver, British Columbia and will support Interior British Columbia; and Halifax, Nova Scotia and will support Atlantic C.... More »
Mortgage Career: Invis and Mortgage Intelligence + MORE Jul 14th
Company: Invis and Mortgage Intelligence Position: Jr. Compliance Officer Location: Mississauga, ON Apply to: hr@invismi.ca Manager, Marketing Be Bold! National brokerage firms Invis and Mortgage Intelligence are the professional home for mortgage brokers adhering to the highest industry standards.... More »
CMHC reports annual pace of housing starts down in May compared with April Jun 17th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in May fell 6% compared with April..... More »
New Housing Starts Slow In October
– ratesupermarket.ca
Housing starts are a good indicator of our economy’s health; shovels in the ground on new-home construction sites mean jobs for Canadians. It also shows consumers are feeling confident about making a home purchase, and that those same home buyers will go on to buy other big-ticket items, like fridges, stoves and furniture. All of this helps stimulate economic growth – but there may be some troubling times on the horizon for new housing in Canada. The Canada Mortgage and Housing Corporation (CMHC) reports that October housing starts have cooled to the slowest pace in seven months.
The Start of a Condo Slowdown?
CMHC’s monthly report shows housing starts in Canada equaled 195,707 units in October compared to 197,763 in September. “The decrease in the trend reflects a decline, in October, of starts of multi-unit dwellings, including condominiums,” said Bob Dugan, CMHC’s chief economist. “Given the elevated level of condominium units under construction, our expectation is that condominium starts will continue to trend lower over the coming months…
A Season of Change
– ratesupermarket.ca
There were a few shakeups in the personal finance scene this week – are you able to adapt? On the mortgage front, prospective home buyers find themselves under the microscope as new rules charge insurers with better regulating the lending industry. Meanwhile, new interchange fees could signal changes to your favourite credit card features. But don’t fear – we have you covered. Read on for the latest.
In Mortgages: New Scrutiny for Mortgage Borrowers: B-20 and B-21 Updates
Watch out mortgage applicants: the latest set of mortgage rules have been put in place, targeting high risk borrowing and shoddy lender practices. Mortgage insurers are now tasked with closely regulating the banks and their home financing practices. Read on to see how this recent changes will affect home buyers.
Read Penelope’s Blog | New Scrutiny for Mortgage Borrowers
In Credit Cards: What If My Bank Changes My Credit Card Agreement?
The terms of your credit card are bound by contract with your lender – but what if they decide to introduce changes to existing features, promos and fees? It’s important to know your rights, understand the changes and take action – here’s what customers should do in the case of a cardholder agreement shakeup…
