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
What home buyers should know about the Canadian mortgage stress test + MORE May 28th
In late 2017, the federal government introduced a mortgage stress test for anyone applying for or renewing a home loan. But, if you’re like nearly half of Canadians polled by TD Bank in 2019, you may not understand what the test is—or who it affects.
And with the recent announcement that the s.... More »
Be Aware of Mortgage Penalties + MORE Nov 9th
Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap .... More »
Why Ottawa should bail out homebuyers if house prices tank + MORE Jun 5th
(iStock)
If you don’t know them personally, you’ve read about them: the woebegone residents of Vancouver, Toronto, and the surrounding areas of those two cities who bought too much house. Some of you pity them; so unfair their time to buy arrived at the frothiest stages of a property bubble. But.... More »
What’s better for buying a second home: HELOC or personal loan? + MORE Aug 8th
Ask MoneySense
I am considering taking out a HELOC loan to buy another property. Is this a wise decision, or would a loan be better? My bank advises me that I can qualify for a $400,000 HELOC.
–Caren
When buying a second property, Canadians can choose from a number of financing options, inc.... More »
CMHC-Backed Report Calls for Annual Surtax on Homes Valued at $1M+ + MORE Jan 7th
A new report backed by Canada's national housing agency is calling for a home equity tax on houses valued at $1 million and more..... More »
Jim Murphy to Depart CAAMP
– canadianmortgagetrends.com
He’s been CEO of Canada’s largest mortgage association for eight years, and at the end of this month he’ll be leaving. Canadian Association of Accredited Mortgage Professionals (CAAMP‘s) Jim Murphy is departing on July 31 to head up the Insurance Brokers Association of Ontario. “On behalf of the CAAMP Board of Directors and our membership I’d like to thank Jim for his 10 years of service and sincerely wish him all the best in his future endeavours,” said Dan Putnam, CAAMP Chair, one of eight Murphy worked under during his tenure. The vacancy leaves CAAMP with some big shoes to READ MORE
Champion Mortgage Inc.
– canadianmortgagetrends.com
Company: Champion Mortgage Inc. Position: Mortgage Underwriter/Application Specialist Location: Guelph, Ontario Mortgage Underwriter/Application Specialist Do you like problem solving and working with numbers? Do you enjoy working in a fast paced, team driven environment? Are you strong at multi-tasking? Do you enjoy a challenge? Would you like to help people make their dreams come true? Would you like to work for a National award winning and growing company? Do you value work / life balance? If you answered YES to any of these questions, you should seriously consider a career with Champion Mortgage! Job Description: The 2015 Canadian Mortgage READ MORE
Should You Believe Recession Rumours?
– ratesupermarket.ca
Finance headlines have been less than fabulous this week, as growing evidence of a Canadian recession throws the economy into flux. From local home buyers to global investors, all eyes are on the Bank of Canada’s next move. Will national interest rates be slashed for the second time this year? Could you cope if you had less purchasing and earning power?
Read on for the full story.
Will a Canadian Recession Lead to More Rate Cuts?
The Q2 numbers are in, and they’re not looking good. As oil’s drop takes its toll, all signs are pointing to a looming Canadian recession – meaning the Bank of Canada will have to take action soon to keep our economy afloat.
Read on to learn more about the factors behind a recession, and how it could affect your mortgage.
Read Penelope’s Blog | Will a Canadian Recession Lead to More Rate Cuts?
Should You Worry About the China Stock Selloff?
Greece may have hogged the finance media spotlight, but a bigger economic storm is brewing in China, as stock markets have recently dropped 25 per cent…
