Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Lender Calls – 2017 Q3 Roundup Nov 24th
Canada’s biggest non-bank lenders have all reported third-quarter earnings. In their conference calls they outlined some of the expected impacts from OSFI’s new mortgage regulations that will take effect January 1, 2018. All unanimously forecast a sizeable decline in uninsured mortgage lend.... More »
Data gaps show need for better foreign buyer stats + MORE Apr 9th
(Getty Images / Michael Blann)
The Canada Mortgage Housing Corporation (CMHC) recently released their April 2016 edition of the Foreign Ownership in Condominiums report.
The report aims to reveal the share of foreign ownership based on the age of the condominium building.
Not surprisingly, the repor.... More »
How much is the average mortgage payment in Canada? + MORE Aug 12th
There’s a cost-of-living crisis affecting many Canadians in 2023. Despite inflation falling to 2.8% in June, the run-up in prices of 2022 and early 2023 have made many staples, including groceries, unaffordable for everyday people. Meanwhile, the Bank of Canada’s (BoC) efforts to bring infla.... More »
Manulife’s Natasha Duric: A 30-year mortgage career built on leadership and innovation Oct 13th
Natasha Duric describes her entry into the mortgage industry as “a fluke.”.... More »
The First Key to Financial Success: Becoming Financially Literate + MORE Jan 26th
A new year provides the perfect opportunity to mentally give yourself a clean slate and get a handle on your finances. Are you planning on saving more this year? Investing? Paying off debt? No matter your resolution, you first need to gain a clear understanding of where you stand financially.
And i.... More »
Canada’s Debt-to-Income Ratio Hits 164.4%
– ratesupermarket.ca
Canadians are racking up more debt than ever with no slowdown in sight, according to new data. A number of reports show Canadian debt levels are rising and the major culprit continues to be low rates and rising real estate costs. In his latest Household Credit Analysis, CIBC Economist Benjamin Tal says household credit is now rising at the fastest year/year pace since late 2012.
But those numbers don’t tell the whole story – here’s a breakdown of the current debt factors..
New Record Highs
The fact is Canadian debt levels have hit a new record high. Statistics Canada reported this month that the amount Canadians owe compared to their ability to pay is now at 164.6 per cent, up from 163 per cent at the end of March 2015. It marks the biggest jump in the ratio since 2011. Canadians owe just under $1.65 for every dollar of their disposable income.
Also read: Why is Canada’s Debt to Income Ratio So High?>
A Tale of Just Two Cities
So, what’s driving our need for debt? If you live in Vancouver or Toronto, it’s likely your mortgage…
You may think you’ll pay only three months’ interest to leave a five-year mortgage before the due date. Think again.
