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
Weekly mortgage digest: Canadians are pulling back on borrowing Sep 16th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Q1 Lender Earnings: The Recovery is Underway + MORE May 22nd
Some of the country’s key mortgage lenders unveiled their first-quarter results, which were positive across the board. The lenders were able to take advantage of a hot housing market, alongside improving economic conditions and reduced loss provisions. One highlight was Home Capital addressing.... More »
How I paid off $40,000 of debt + MORE Dec 3rd
Michelle Renee Dacyk, 39, Grand Prairie, Alta. (Photograph by Chris Beauchamp)
When I completed my masters degree two years ago the first question I asked myself was: “Now what?” I was an occupational therapist and had been in debt since age 18, having spent my money on cars, credit cards, lines.... More »
Interest rates rise at weekly auction of US Treasury bills Aug 23rd
WASHINGTON – Interest rates on short-term Treasury bills rose in Monday’s auction, with rates on six-month bills climbing to their highest level since late May.
The Treasury Department auctioned $40 billion in three-month bills at a discount rate of 0.310 per cent, up from 0.300 per cent.... More »
Mortgage Digest: 5 big banks cut fixed mortgage rates following bond yield drop + MORE Feb 17th
Mortgage providers nationwide have been gradually lowering their fixed mortgage rates, including five of the country's Big 6 banks..... More »
Q&A with CanWise Financial’s James Laird
– canadianmortgagetrends.com
After spending six years as the Chief Operating Officer (COO) of Canada’s largest independent mortgage brokerage, James Laird set up his own mortgage company, CanWise Financial, earlier this fall. Laird’s success has in large part been due to a mastery of leveraging the Internet leads. In the Q&A that follows, he provides some important insights into setting up a […]
Reverse Mortgages: Why They’re An Expensive Option
– ratesupermarket.ca
Ask advisors whether the money tied up in your home should be counted as an asset that you can tap in retirement and you’ll get a wide variety of opinions.
Most financial planning software programs don’t consider home equity when tallying potential retirement income. In looking at the few that do, it’s clear that there’s no agreed-upon method for calculating its impact on your financial future.
Despite this, home equity remains a tempting target for older investors to tap. Don’t forget that close to three quarters of Canadians over age 60 are homeowners, not renters — a considerably higher rate than for most other age groups.
You can always downsize, of course, and invest the difference. But, other than that, there really aren’t a lot of options when it comes to wringing money out of your home.
Also Read: Learn More About Reverse Mortgages>
Helocs Not Generally Available
A home equity line of credit secured against the value of your property is likely your best bet…
Highlights from CAAMP’s Fall Mortgage Report
– canadianmortgagetrends.com
Mortgage analysts look forward to this day each and every year — that is, the date CAAMP releases its annual mortgage market research. This year’s edition has a slew of new mortgage findings. We’ve highlighted the items that are eye-catching. (Extra-notable data points are in blue. This author’s comments are in italics.) ******** Real Estate/Mortgage Market 9.62 […]
