Interested in learning more about property mortgages in Canada? Look no further!
Latest News
D+H Consumer Mortgage Study + MORE Mar 1st
D+H released some useful new mortgage consumer data last month, and it yielded some surprises. I covered a few of the key findings in this Globe story over the weekend, but below are the stats in more detail. (Our comments in italics.) ******** The study segmented consumers into two types: ‘Ne.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Aug 20th
The first two rate cuts from the Bank of Canada (BoC) are finally making a mark on housing affordability.
According to the latest monthly affordability report from Ratehub.ca (Ratehub Inc. owns both Ratehub.ca and MoneySense), it became easier to qualify for a mortgage for the average-priced hom.... More »
Mortgage penalty calculations.. More important than the interest rate. + MORE Apr 27th
WHY ISN’T ANYONE TALKING ABOUT THIS? You bought a home… you need a mortgage.. what’s the first question you ask your Banker? “what’s your best interest rate?”. And the second question is usually, “what product should I choose?”. Almost no one ask.... More »
Opinion: S&P Overstates Broker Fraud Driver + MORE Mar 22nd
A few weeks ago, S&P said Canadian bank risk was rising, and it blamed mortgage brokers in the process. The rating agency wrote: “…The growing share of residential mortgages originated via brokers, compound the risks of high household debt and house prices…As brokers do not bear credit ri.... More »
Mortgage-Free By 30 – Here’s How + MORE Sep 28th
After making his first foray into the housing market four years ago, MoneyWise writer Sean Cooper set out on a journey to pay off his mortgage by the age of 30. In September 2015, he achieved his goal and kissed his mortgage goodbye. Here is his story:
In August 2012 I bought my first house –.... More »
Canadians plan to spend $17K on renos this year
– moneysense.ca
(Getty Images / ullstein bild)TORONTO – When Corinne McDermott’s mortgage came up for renewal, she and her husband considered moving.
“We always thought this house would be our middle house,” McDermott said of the east-end Toronto abode she shares with her husband and two kids.
But sky-high home prices, hefty realtor fees and land-transfer taxes deterred her. Instead she’s opted for a large-scale renovation — including building on a three-storey addition with an ensuite master bathroom and a walk-in closet — to the tune of roughly $150,000.
“We’re creating our dream home, that we plan on never leaving,” McDermott said.
Renovation contractors say soaring home prices in Toronto and Vancouver are encouraging many homeowners to pursue renovations instead of shopping for new homes.
“They can’t afford to buy new, so what they’re doing is they’re improving the living spaces that they’re in now,” said Jon-Carlos Tsilfidis, the renovators council chair at the Building Industry and Land Development Association…
Pacific Mortgage Group Inc. – Radius Financial
– canadianmortgagetrends.com
Company: Pacific Mortgage Group Inc. – Radius Financial Position: Senior Mortgage Underwriter Location: Vancouver, B.C. Senior Mortgage Underwriter Job description Underwrite and approve approximately 6 residential mortgage applications a day according to set guidelines and policies Develop and strengthen broker relationships in Western Canada Provide underwriting and credit expertise to network of Western Canadian brokers Work in home office environment Very competitive salary and bonus compensation program based on experience Desired Skills and Experience Qualifications 5+ years of end-to-end residential mortgage underwriting experience In-depth knowledge of credit and mortgage underwriting practices Excellent communication, customer service and negotiating skills Strong computer READ MORE
Your May Money Update
– ratesupermarket.ca
Feel like you have less cash this month? You’re not alone – spending tends to heat up during the warm weather days – Canadians are out of hibernation and we’re ready to shop. Between hitting retailers, the open road and the open houses, it can be easy to go over budget as temperatures rise.
Whether you’re a mortgage shopper, or on the hunt for a new credit card, we have several ways you can save this month. Read on for more details.
More Mortgage Rules to Come This Summer
Sorry, homeowner hopefuls – there are a number of restrictions set to hit the mortgage market this June. OSFI, the entity that regulates mortgage lenders and insurers, has introduced new qualification requirements, and has done away with cash back mortgage products for some borrower groups. Will you be affected? Read on to find out.
Read Rubina’s Blog | More Mortgage Rule to Come This Summer
Automatic GIC Renewals: What You Need to Know
Guaranteed Investment Certificates are a great beginner investment: they’re low risk, need little strategy and you’ll always get your principal amount back, with interest on top…
