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
The big question on mortgage borrowers’ minds: fixed or variable? Feb 15th
With variable mortgage rates potentially at a peak and fixed rates having recently retreated, borrowers are asking themselves the age old mortgage question: should you go fixed or variable?.... More »
The latest in mortgage news: National Bank among first to offer First Home Savings Account Apr 19th
National Bank has become one of the first of the big banks to make the new First Home Savings Account (FHSA) available to its clients..... More »
How to buy a home the right way, according to CMHC + MORE Mar 1st
Canada Mortgage and Housing Corp. has updated its free guide to the process of buying a home, with an emphasis on encouraging Canadians to think long term about what kind of home they should buy — or whether they would be better off renting..... More »
The problem with low mortgage delinquency rates + MORE Jul 23rd
When the Canada Mortgage and Housing Corporation announced earlier this week that mortgage delinquency rates had fallen to the lowest level in decades during the fourth quarter, there was a rash of stories patting Canadians on the back for their financial prudence. If you listened to the experts .... More »
Understanding the Smith Manoeuvre: a Canadian mortgage strategy decoded Jan 6th
For nearly four decades, Canadians have turned to an investment strategy of writing off the interest from mortgage payments as tax-deductible. Known as the Smith Manoeuvre—after its creator, financial planner Fraser Smith—the strategy involves getting a readvanceable mortgage, which includes a l.... More »
Stated Income Simply Stated
– canadianmortgagetrends.com
By Magenta Mortgage Investment Corporation, Sponsored Post Self-employment has been trending upwards in Canada in recent years. In its 2015 Spring Survey, CAAMP estimated that five per cent of home buyers worked for themselves. And it’s no wonder that the ranks of self-employed workers are growing. Apart from involuntary reasons like job dislocation, many choose self-employment for the lifestyle benefits, like making your own schedule, being able to work from home and deducting day-to-day expenses such as fuel, utilities, telecommunication and networking costs. That last point is a big one. It can be highly advantageous to earn, say, $100k per READ MORE
Broker Market Share – Q2 2015
– canadianmortgagetrends.com
Mortgage brokers are becoming all the more important as a distribution channel for lenders. Witness these second-quarter numbers from D+H, for instance: Overall broker submissions rocketed up 23.8% year-over-year Submission volumes in Ontario exploded to roughly $26 billion from ~$21 billion in Q2 2014. That Ontario showing is by far the highest in our records (our records of D+H data go back to 2009). B.C., Alberta and Quebec also saw substantial increases. With numbers like this, we’ll be eagerly awaiting CAAMP’s State of the Residential Mortgage Market report this fall, which could show a new record for broker market penetration. Here’s a look at the reported READ MORE
TORONTO — Five things to watch in Canadian business this week:
Hot housing: The Canadian Real Estate Association is out with the resale housing statistics for August on Tuesday in yet another snapshot of the state of Canada’s housing market. Vancouver and Toronto house sales and prices have been on fire for months as Canadians take on more mortgage debt.
Canada as onscreen powerhouse: Valerie Creighton, president and CEO of the Canada Media Fund, appears at the Economic Club of Canada in Ottawa on Wednesday to argue that Canada is a mover and shaker in on-screen content. Creighton has said the CMF is focused on ensuring the Canadian content industry continues to have the resources and the ability to compete internationally.
Leaders showdown: The health of the Canadian economy is the focus of the second national leaders’ debate on Thursday in Calgary. Stephen Harper, Justin Trudeau and Tom Mulcair will face questions on their plans on everything from energy and housing to taxation and jobs; Green party leader Elizabeth May wasn’t invited…
Hot housing: The Canadian Real Estate Association is out with the resale housing statistics for August on Tuesday in yet another snapshot of the state of Canada’s housing market. Vancouver and Toronto house sales and prices have been on fire for months as Canadians take on more mortgage debt.
Canada as onscreen powerhouse: Valerie Creighton, president and CEO of the Canada Media Fund, appears at the Economic Club of Canada in Ottawa on Wednesday to argue that Canada is a mover and shaker in on-screen content. Creighton has said the CMF is focused on ensuring the Canadian content industry continues to have the resources and the ability to compete internationally.
Leaders showdown: The health of the Canadian economy is the focus of the second national leaders’ debate on Thursday in Calgary. Stephen Harper, Justin Trudeau and Tom Mulcair will face questions on their plans on everything from energy and housing to taxation and jobs; Green party leader Elizabeth May wasn’t invited…
