Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
No signs of distress among borrowers yet, First National says + MORE Nov 10th
Canada's largest non-bank lender says it is keeping a close eye on its mortgage borrowers, but hasn't seen any "measurable issues" related to higher payments so far..... More »
Should you get a fixed or variable-rate mortgage? Why the usual advice may no longer apply Mar 17th
After more than a decade of variable rates coming out on top, experts say fixed mortgage rates may have hit bottom and are already starting to climb..... More »
Housing market slowdown continues with sales and average prices well down from last year - CBC News + MORE Oct 14th
Housing market slowdown continues with sales and average prices well down from last year CBC NewsReal estate: Canadian home sales continue to slow CTV NewsCREA reports home sales in typically busy September continued to slow NewmarketToday.caCanada’s average home p.... More »
Canada’s financial consumer watchdog unveils guidelines to support at-risk mortgage borrowers Jul 6th
The country's financial consumer watchdog today unveiled new guidelines urging financial institutions to provide support to mortgage holders who are facing "severe financial stress" and are at-risk of default..... More »
Should you hold your mortgage inside your RRSP? + MORE Oct 2nd
Q. I currently own a house in Edmonton that is mortgaged, and looking to purchase a property in Vernon, BC, that I will eventually retire to. Until then, I am liking the idea of renting out that property to help support the additional mortgage.
I am wondering if it’s possible to transfer my exis.... More »
10 ways to save more and pay down your debt
– moneysense.ca
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars
The best way to get on track to saving is to spend less than you earn. Tracking your spending—either through a daily journal or an app—can help you do this.
3. Trim spending
Consider trimming expenses. Once you know how much you’re spending monthly, you can decide what areas you’d like to cut back on so you can meet your savings goal.
4. Kill two birds with one stone
For those with low to moderate incomes, paying off debt—including the mortgage—is the best tax-planning you can do. That’s because you don’t pay taxes on the capital gains on your home and there’s no tax on the return you get for getting out of debt.
5. Automate it!
Set up an automatic transfer of funds to a savings to a savings account (or TFSA or RRSP) so that a set amount—say 10% of your gross monthly income that comes off your paycheque automatically…
Don’t Miss Opportunities at the Events You Attend
– canadianmortgagetrends.com
With the 2017 National Mortgage Conference happening this weekend, it’s important to step back and understand how you should be taking advantage of such events to help lay the foundation stones for successful future business opportunities and activities. We all love the parties, but your core value and your future success depend on many other […]
