Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
The Latest in Mortgage News: CMHC to Review Investment Property Down Payments + MORE Jan 13th
It's no secret that the federal government is eyeing reforms to investment properties in an effort to help reel in runaway house prices..... More »
The Run Down on Reverse Mortgages: What Are They and Why Do Home Owners Get Them? + MORE Jun 17th
Although it may seem like a complicated or paradoxical concept, the features that make up a reverse mortgage are rather simple. A reverse mortgage is a home equity product that allows home owners aged 55 years and older to access up to 55 per cent of the value in their home.
Home owners can choose .... More »
Mortgage borrowers renewing in 2025 to face an average $513 monthly payment increase: RBC + MORE Dec 6th
RBC also reported a sharp drop in remaining amortization periods thanks to Bank of Canada rate cuts in the fourth quarter..... More »
New rules of saving + MORE Nov 9th
Rainy day savings accounts are a bad idea
In this new age of low interest rates, rainy day savings make a lot less sense. It’s hard to justify keeping six months’ salary in a plain-vanilla account. “If you have a mortgage, money in a savings account is better spent putting it towards the mort.... More »
The latest in mortgage news: Government unveils details of its foreign buyer ban Dec 25th
The government unveiled details of its foreign buyer ban on residential properties earlier this week, just days before the rules are set to take effect..... More »
Mortgage Career: Kawartha Credit Union
– canadianmortgagetrends.com
Company: Kawartha Credit Union Position: Financial Services Representative Location: Peterborough, Ontario Financial Services Representative Years of Experience Required: A minimum of 2-3 years of personal lending experience Are licences or registrations required? Not applicable If you are interested in pursuing a career in the financial services industry with a dedicated, enthusiastic team of […]
The Slow Demise of Member Dividends
– canadianmortgagetrends.com
The Globe and Mail ran this piece today about online mortgage discounters. You’ll see similar stories in the coming months as the media picks up on this trend. Just as notable, however, was the article’s comment from Mitchel Chilcott, CEO of North Peace Savings and Credit Union (NPSCU). Chilcott was talking about member dividends, a form […]
Mortgage Career: BMO Financial Group
– canadianmortgagetrends.com
Company: BMO Financial Group Position: Mortgage Specialist Location: Edmonton, Alberta Mortgage Specialist Turn your potential into performance with unlimited earning potential, ongoing training, the backing of our extensive branch network and bigger territories than at most other banks. Enjoy the flexibility of working from home, a comprehensive benefits package, managing your own schedule and travelling […]
Optimize your retirement income
– moneysense.ca
(Stuart Dee/Getty Images)Q: My husband is 63 and I am 58 years-old. We have defined benefit pension plans totalling $90,000 for both of us; approximately $200,000 each in RRSPs; collect approximately $50,000 per year in rental income from two properties (we have a mortgage of $100,000 combined on these properties); I’m still earning approximately $100,000 per year and plan to work for the next two years; my husband is retired and although he can collect early CPP, he opted not to do so to minimize taxes; we have 2 daughters; one is 17; the other is 31 and on ODSP due to an intellectual disability; we have no other debts. We would like to plan our financial future to time the collection of CPP, minimize taxes, minimize capital gains tax and avoid clawback of the OAS. How can we achieve this? Can I avoid or at least minimize capital gains by selling or gifting a property to my daughter(s) or should I keep them as they are nearly paid off and we are deriving rental income? —Jackie
A: Your question is multi-faceted, Jackie, with considerations ranging from investments to taxes to estate planning…
Why foreign-owned condos really are a problem
– moneysense.ca
Homeowners recently sighed with relief when a recent Canada Mortgage and Housing Corporation study found that the percentage of foreign-owned condos in Canada’s biggest cities is typically less than 2.5%. But when we took a deeper dive into the numbers, we found much higher concentrations in the downtown cores of the cities below. That’s worrying because if enough foreign owners get spooked and sell, it could set off a crash that reverberates through the whole city.
.cb-in-article-promo-slot {font-family:Arial,Helvetica,sans-serif;padding:1em;background:#eee;margin:1.8em 0;} a .cb-in-article-promo-slot {color:#444;}
Download NextIssue today to get MoneySense on your tablet—along with Bloomberg, Fast Company, Maclean’s and 100+ more of the world’s best magazines—all for one low price! Start your 30-day free trial right now!
The post Why foreign-owned condos really are a problem appeared first on MoneySense.
