Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
The best life insurance in Canada: your complete guide + MORE Sep 14th
Wondering how to get the best life insurance in Canada for you and your family? You’re not alone. The pandemic has shown Canadians that we are not invincible. In fact, a 2021 survey found 44% of us bought or now plan to buy life insurance because of the effects of COVID-19. But not everyone is con.... More »
Watch: What is the mortgage stress test? Mar 5th
If you’ve purchased a home in the last several years, or plan to buy one soon, there’s a good chance you’ve heard about the mortgage stress test. Since 2018, the stress test has served as a set of rules banks and lenders use to determine if you qualify for the mortgage you want. It’s possibl.... More »
2023 mortgage market year in review Dec 31st
As we wrap up a year full of economic twists and turns—and interest rate ups and downs—we wanted to look back at some of the top mortgage-related stories that graced our pages in 2023..... More »
Housing starts up 3% in January, but trade risks add ‘significant uncertainty’: CMHC Feb 20th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in January rose three per cent compared with December, helped by strength in multi-unit starts in Quebec and B.C..... More »
What New Year’s credit deals promise—and why you should be wary Jan 17th
January is for fresh starts, but too many Canadians are held back by last year’s overspending. Lenders know about new year’s debt-hangovers, so you may be seeing more credit offers in your inbox—but be wary. Used incorrectly, that deal on a balance transfer or sign-up bonus could get you into .... More »
7 smart strategies for first-time home buyers
– moneysense.ca
If you’ve been thinking about buying a house, you may be wondering how you’ll know when it’s “the right time.” If you don’t have a 20% down payment saved up, is it still OK to consider buying? If you can’t afford your forever home, should you still jump into ownership now? And does the COVID-19 pandemic change the rules for first-time home buyers?
Smart people who consider those questions—and more—every day respond with these seven pieces of practical advice.
Get the mortgage rate that works for you.Find the best rate for you in under 2 minutes at ratehub.ca. Let’s get started.I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
1. Get a real pre-approval
Too many buyers are shopping, armed with only a number from an online calculator that provides a top-level estimate of what you might qualify for, says independent mortgage broker Ron Butler, who services clients in the Greater Toronto Area, Ottawa, Vancouver and Calgary…
The Latest in Mortgage News: BoC Deputy Governor Says Rate Hikes Could Come Later Than Expected
– canadianmortgagetrends.com
Financial markets may be pricing in the first interest rate hikes as early as March, but they shouldn’t be too confident about that timing. That was the message from Bank of Canada Deputy Governor Lawrence Schembri during a question and answer session following a speech on the labour market this week. “There’s a lot of uncertainty about the timing of the closing of the output gap, so one should be careful not to assume it’s necessarily going to be the second […]
Real Estate’s Double-Edged Sword
– canadianmortgagetrends.com
It’s easy to forget the power of leverage. With $100,000 of income, a creditworthy borrower can now qualify for almost three times the mortgage they did in the early 1980s. Decades of falling interest rates and expanding credit availability have made that possible, while acting as a giant lever for home values and mortgage activity. The prosperity that’s been created in our industry this millennium is truly phenomenal, and it’s largely thanks to an unprecedented vertical climb in real estate. […]
