Interested in learning more about property mortgages in Canada? Look no further!
Latest News
Rates are going up… for now… is this the end of low rates? + MORE Jan 14th
Next Wednesday will be the first Bank of Canada meeting date to set the Target rate, which directly affects Bank Prime rate and Variable rate mortgages. It’s almost a certainty that the Bank of Canada Governor, Stephen Poloz, will raise the rates.
POSITIVE DATA MEANS HIGHER RATES
Th.... More »
9 Ways to Keep Your Credit Score as High as Possible (Part II) Jul 10th
In our previous post, we spoke about the fact that there are so many credit score providers out there, all providing different results, and chances are none of those results are the credit score lenders see when you apply for a loan product such as a mortgage, credit card or car loan. How are you su.... More »
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 »
How's my rate? + MORE Feb 1st
You’re two years into your mortgage term. You’ve got a great rate, or so you thought? But now you aren’t sure. With so much talk about record low interest rates, you begin to question. Maybe there’s a better deal out there? Did you choose the right product and lender? Has you.... More »
Thinking of a private mortgage? Here’s what lenders want to see + MORE May 9th
Private mortgages continue to play an important role in today’s Canadian housing market, especially as traditional lending guidelines tighten. Yet many borrowers are surprised to learn that private lenders don’t simply look at one or two factors — they assess a wide range of details that can m.... More »
Tragedy Shakes Mortgage Industry
– canadianmortgagetrends.com
Shock and sadness are reverberating throughout Canada’s mortgage industry following an apparent murder-suicide that has struck painfully close to one of its own. Axiom Mortgage President and CEO Michael Cameron took to social media to express his grief over girlfriend Colleen Sillito’s senseless death on Friday. The two had been dating since early May. Sillito, a 46-year-old artist, photographer and mother of five, was reportedly killed by an ex-boyfriend in Fort Saskatchewan, where she lived. “She was passionate about life,” Cameron wrote on his Facebook page. “She loved her children. Her ability to create beauty through her art, photography, pottery READ MORE
4 Financial Tips for Post-Grad Students
– ratesupermarket.ca
Kids aren’t the only ones going back to school this fall; adults pursuing graduate school are also hitting the books. While the two most common reasons for going back to school are professional development or switching careers, a second lap through the classroom comes with extra financial challenges. For example, post-grad students often take night school on top of working their existing jobs. They’re also a consumer segment with greater debt obligations, family and mortgage commitments that usually don’t impact younger students.
Costs Are Rising for Post Grads
Attending university isn’t any less expensive the second time around, and tuition costs across Canada are rising. Statistics Canada reports students enrolled in graduate programs in Canada paid an average of about $6,210 in tuition fees for the 2014/2015 school year. Tuition fees have increased from last year in nine out of 10 provinces.
For example, pursuing the popular executive master of business administration program will cost you about$39,862 in tuition…
The pace of home construction rose to 230,701 units a year in September, the highest level in three years, the Canada Mortgage and Housing Corporation says.
2015 Retirement 100: All Stars
– moneysense.ca
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Overview
Full Ranking
All-Stars
The Leaders
The three big banks at the top of the class are the Bank of Nova Scotia (BNS), the Bank of Montreal (BMO), and TD Bank (TD). The first two offer yields of 4.7% while TD pays
3.9% and has a good dividend growth record. They’re joined by insurance firms Great- West Lifeco (GWO) and Sun Life Financial (SLF), which provide yields of 4.0% and 3.7%, respectively. In addition, Genworth MI Canada (MIC) makes the grade and pays a hefty dividend yield of 5.1%. It’s a mortgage insurance firm that trades at only 7 times earnings and 84% of book value due to worries about excesses in the Canadian real estate market…
Should You Accept That Pre-Approved Credit Limit Increase?
– ratesupermarket.ca
If you faithfully pay your loans, mortgage or credit card each month, you’ve probably gotten a call or letter from your bank telling you that you’ve been pre-approved for a credit increase or a line of credit.
But if you’re not currently using all the credit that you have available, you might not think you need it. Guess what? Turning down pre-approved credit increases might actually hurt your credit. This post will walk you through why you get offered these credit increases, how it can improve your credit score and when you should turn an increase down.
Why They’re Offering The Increase
If a bank that you have an account with already tells you that you’ve been pre-approved for a credit increase or new line of credit it’s because they see you as a good customer. Whether you diligently pay off your card every month or you stay current on your loans, they’re offering you an increase because they trust that you will pay them back.
No Hard Check
One of the best things about these pre-approved credit increases is that they often don’t perform a hard credit check on your file…
