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
Fixed Mortgage Rates Are Rising. Are Variable Rates Next? + MORE Jan 22nd
Numerous banks and other mortgage lenders have been raising fixed mortgage rates in recent weeks, following the lead of rising bond yields that are now at a two-year high. And next week, all eyes will be on the Bank of Canada to see if it raises its overnight target rate earlier than expected, which.... More »
Bank CEOs weigh in on “vulnerable” mortgage clients + MORE Jan 12th
Canada's Big-Bank CEOs weighed this week in on the current state of their mortgage clients, including those they consider "vulnerable" in the event of a recession..... More »
Retired? No mortgage for you: How the stress test is making it tougher to borrow later in life Nov 6th
Many people are shocked to discover that the amount they can borrow decreases drastically when they retire because the stress test looks at your income..... More »
Mortgage renewal calculator + MORE Jan 25th
Thee are a lot of decisions to make when it comes to renewing your mortgage, including whether or not to stick with your current lender. A mortgage renewal calculator can simplify the process and help you pick the best mortgage offer available to you at the time of renewal.
You.... More »
Mortgage Stress Test Sidelining Young Buyers + MORE Aug 22nd
New data shows the country’s youngest buyers are being affected most by the government’s mortgage stress tests. Mortgage originations were down 8.9% overall in Q2, while those among buyers between the ages of 18 and 25 were down 13.4% compared to last year, according to TransUnion’.... More »
50+ with little or no Mortgage? You Need a Line of Credit!
– canadamortgagenews.ca
Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.
We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.
If you’re 50 or older and have a mortgage coming due, or maybe you have no mortgage, you should strongly consider getting a secured line of credit instead of just renewing your mortgage.
If you’re retiring, opting for a reduced work schedule or anticipating a reduction in your income for any reason, please act now!
If you don’t think this applies to you, guess again. The new mortgage rules have made it much tougher to qualify…
Scheer Would Scrap Stress Test on Switches, Consider 30-Year Amortizations
– canadianmortgagetrends.com
A Conservative win in the October federal election would mean an end to stress testing mortgage switches, as well as additional measures aimed at improving housing affordability. Conservative Party leader Andrew Scheer made that promise on Friday while speaking to the Canadian Home Builders’ Association (CHBA). “Housing affordability has become a critical issue across the […]
