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
How to Use a Mortgage Calculator + MORE Apr 18th
Looking at mortgage rates for a new house? Need a mortgage calculator? Canada residents know it’s easy to fall in love with your dream home. But, it helps to factor in the mortgage loan amount and interest rate beforehand. You want to determine how much house you can afford - p.... More »
Broker Boot Sparks Questions + MORE Apr 1st
RateHub was the talk of the industry last week when it kicked Spin Mortgage, a Vancouver mortgage broker, off its website. (That story) The drama made national news, leading thousands of consumers to ask questions they had never pondered before, including these: #1 – What on earth is a rate compa.... More »
Most mortgage borrowers to see payments rise 34% to 54% vs. early 2022: Bank of Canada + MORE Dec 22nd
If you had a mortgage as of February 2022, chances are you will be facing a payment increase before the end of 2025..... More »
Canadians want to age in place and are turning to reverse mortgages to make that happen May 28th
More than 9 out of 10 Canadians want to be able to live out their retirement years in the comfort of their home, and reverse mortgages are increasingly being used to make that a reality..... More »
The Parliamentary Budget Office Reminds Us that Higher Interest Rates Would Bring Challenges Jun 23rd
When Interest Rates Inevitably Rise… In a new report on “household indebtedness and financial vulnerability,” the Parliamentary Budget Office (“PBO”) has provided calculations on how increased interest rates would affect debt service costs for Canadian consumers. The PBO report assumes tha.... More »
4 Money Pledges to Make in 2015
– ratesupermarket.ca
It looks like Canadians might need to make some New Year’s debt resolutions.
According to Stats Canada, the average household debt ratio – which includes mortgages, consumer credit and non-mortgage loans – climbed to 162.6 per cent of their disposable income in the third quarter of 2014.
But there is a silver lining says Pedro Antunes, executive director and deputy chief economist at The Conference Board of Canada. “We’re essentially looking at debt levels that have stabilized over the last two years, (after) growing very quickly through most of the 2000s,” he says. Once again, not the best news – but cause for a positive outlook headed into 2015.
Canadians Getting Savvier About Savings
Although it’s a slightly different economic indicator, Antunes points out that between household spending and saving rates, Canadians are looking stable in the saving category.
“In other words, less indebtedness and a little bit more savings from households in Canada,” he adds, noting that a rise in interest rates in 2016 will help to entice more Canadians to save their cash…
According to Stats Canada, the average household debt ratio – which includes mortgages, consumer credit and non-mortgage loans – climbed to 162.6 per cent of their disposable income in the third quarter of 2014.
But there is a silver lining says Pedro Antunes, executive director and deputy chief economist at The Conference Board of Canada. “We’re essentially looking at debt levels that have stabilized over the last two years, (after) growing very quickly through most of the 2000s,” he says. Once again, not the best news – but cause for a positive outlook headed into 2015.
Canadians Getting Savvier About Savings
Although it’s a slightly different economic indicator, Antunes points out that between household spending and saving rates, Canadians are looking stable in the saving category.
“In other words, less indebtedness and a little bit more savings from households in Canada,” he adds, noting that a rise in interest rates in 2016 will help to entice more Canadians to save their cash…
