Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The complete guide for first-time home buyers in Canada + MORE Apr 22nd
Buying your first home is an exciting experience, but it can also be an overwhelming one—especially if you’re not sure where to start. That’s why we’ve outlined some simple steps that anyone shopping for a home should take, from figuring out what you can actually afford to getting pre-approv.... More »
BoC Drops Key Rate 0.50%-Pts. Will Prime Rate Follow? + MORE Mar 5th
The coronavirus contagion left the Bank of Canada little option today. It cut Canada’s key interest rate amid fears of a deepening economic downturn. It was the bank’s first rate cut in nearly five years and likely won’t be its last this year.
The move brings Canada’s overnight target rate .... More »
How your rent payments can help build your credit history + MORE Oct 4th
Paying rent, much like a mortgage, can often be a person’s biggest monthly expense. Yet, there hasn’t historically been a way for renters to get credit for making these large payments on-time like homeowners. New rent-reporting platforms are aiming to change that. These platforms act as.... More »
Mortgage Lenders Provide COVID-19 Update – Part 2 + MORE Apr 16th
In a recent series of panel discussions put on by Mortgage Professionals Canada, a cross-section of some of the country’s top lenders and insurers provided updates on how the COVID-19 pandemic has impacted operations and shaped their outlook. Similar to the previous sessions, the overwhelming mess.... More »
Q2 Lender Earnings: Strong Results and a Positive Outlook for H2 + MORE Aug 21st
Some of the country’s key mortgage lenders benefited from strong housing activity seen over the first half of the year, according to second-quarter earnings. While results were strong across the board, part of that was a function of weak Q2 2020 comparisons, which magnified gains this quarter..... More »
A New Housing Horizon
– ratesupermarket.ca
It seems each week, there’s a new headline pointing to what Canadians should fear for their finances. Now, the Bank of Canada has chimed in with new warnings for the housing market, which has again surpassed the price of oil as our greatest economic risk.
It’s a lot for buyers to take in, and has many wondering – is it tougher than ever to buy real estate in Canada? Read on for the full story.
Canada’s Housing Market is Biggest Economic Risk
What’s the biggest risk to our economy? It’s not the low price of oil – the Bank of Canada recently revealed that high levels of household debt and steep housing market are their biggest causes for concern. Here’s what that means for you.
Read Rubina’s Blog | Canada’s Housing Market is Biggest Economic Risk
Mortgage Throwback: Dan’s Story
Is it really tougher to buy a home in today’s market? Any new homeowner will likely say so, as a house with a yard – considered the norm in yesteryear – is now reserved for the millionaire set in our nation’s steepest markets…
New Mortgage Prepayment Stats
– canadianmortgagetrends.com
Manulife released new data this week on homeowners’ tendency to prepay their mortgages, as well as their ability to withstand interest rate hikes. Here’s what those numbers revealed. Prepayment Trends Mortgages with big prepayment allowances save a small fraction of the population a lot of interest. There’s no disputing that. But for most, they are one of the more over-rated mortgage features. Manulife’s Homeowner Debt Survey supports that. The report found that while 40% of mortgage holders paid extra on their mortgage last year, those payments totalled only 3.3% of the average Canadian’s mortgage balance (which is $190,000). Moreover: Fewer than 1 in 15 mortgagors READ MORE
