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
Rebuilding homes in Fort McMurray, Alta., going faster than expected + MORE Jul 20th
Rebuilding efforts in Fort McMurray, Alta., are running ahead of expectations, with reconstruction underway on one-third of the homes destroyed in last year’s wildfire, according to Canada Mortgage and Housing Corp.
In a report Thursday, the federal agency said the rebuilding of 844 housing un.... More »
Self-Employed but Need a Loan? 7 Things You Need to Know + MORE Aug 25th
Being self-employed has its pros and cons: you may have a more flexible schedule, but you also have a lot more responsibility, especially when it comes to managing your own finances.
According to Statistics Canada, 2.8 million people were self-employed in 2017. And with the swelling ranks of the se.... More »
How a young couple can kill $142,000 in debt and start investing + MORE Mar 19th
iStock
Julie and David live in Calgary with their two daughters, ages 10 and 7. David, 40, is a cable technician earning $150,000 annually while Julie, 37, works part-time at a retail store near home earning $6,000 annually. In 2014, their lives changed when David fell on the job and injured his lef.... More »
How Does the Home Capital Crisis Affect Me? + MORE May 12th
As of late, Home Capital Group is dominating the headlines. To quickly summarize, on April 19, the Ontario Securities Commission (OSC) claimed that brokers had falsified information on mortgage applications submitted to Home Trust. As a result, shares in the company dropped while customers withdrew.... More »
Should retirees pay off their mortgages with investments? + MORE Nov 28th
Ask MoneySense
I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are low possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank who holds my mortgage. What do you think?
–Li.... More »
December Debt Worries
– ratesupermarket.ca
Just in time for the holidays… two debt reports are out with some not-so-cheery news for Canada’s economy. Not only are we carrying way too much consumer and mortgage debt, but our biggest assets (namely our homes) aren’t worth as much as we think they are.
What’s to make of this economic doom and gloom? Read on for our Mortgage Debt Spotlight and see how you could be affected as a consumer.
Canadian Housing Market Could Be 30% Overvalued: Bank of Canada
Some dire news from Canada’s central bank – national housing prices could be overvalued between 10 and 30 per cent. The Bank of Canada warns this, combined with Canada’s high debt levels, could lead to “severe” price corrections and economic fallout – but the chances of that occurring are low.
Here’s what you should know about the BoC’s latest report.
Read Penelope’s Blog | Canadian Housing Market Could Be 30% Overvalued
Yikes! Canadians Owe $1.5 Trillion
The latest national debt numbers are in… and they ain’t pretty…
New 2nd mortgage options at 3.50% with no legal fee or appraisal fee!
– canadamortgagenews.ca
We recently came across a lender that is offering an unheard of offer. Secured lines of credit in 2nd position at Prime plus 0.50%. That’s 3.50% today! We haven’t seen this sort of offer in quite a while for 2nd mortgages. Here’s the qualifying details: you have to have good credit you need […]
More Bad News for Small Lenders
– canadianmortgagetrends.com
Since 2008, the Finance Department has announced one mortgage restriction after another, largely in an effort to wean lenders from government support. And just when you think there’s no more regulations to come, they tighten further. The latest such measure came last week. On December 1, CMHC announced hefty fee hikes for guaranteeing mortgage-backed securities […]
