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
Spotlight On Mortgages: November 29, 2013 + MORE Nov 29th
It seems like everyone has an opinion on the state of Canada’s housing market. The International Monetary Fund, a global organization that monitors the world’s economic activity, has added its prescriptive voice on the right direction for Canadian central interest rates and economic growth.
Acc.... More »
Are they on track to retire at 50? + MORE Jun 22nd
(Photograph by Ania and Tyler Stalman)
The current situation
Adam Danyleko, 28, and Justine Oshust, 25, recently purchased a new home in Calgary for $822,000. The couple, who make $200,000, are looking forward to building a life together, but would like to retire when Adam turns 50, with about $100,.... More »
Why didn’t the Bank of Canada Gov cut rates last week? + MORE Sep 12th
WAS THIS A BIG MISTAKE?
Last week, Stephen Poloz, the Bank of Canada Governor, kept the Prime Rate as is during the 6th of their eight scheduled meetings for 2019. The Current Target rate is 1.75%. (Bank Prime rate is derived from this rate. Today’s Bank Prime rate is 3.95%..... More »
Broker Lender Market Share – Q3 2016 Dec 27th
Mortgage volumes in the broker channel surged in the third quarter, up 9.6% year-over-year. That’s according to data from D+H. This data precedes the government’s transformative mortgage rule changes which kicked in on October 17 and November 30. The top 10 broker channel lenders acc.... More »
Banking regulator to hike amount of capital lenders must hold against mortgages + MORE Dec 13th
Canada's top financial regulator wants to update the rules that govern how much capital lenders must hold to offset the risk that the residential mortgages on their books go bad..... More »
Life After 2.99%
– canadianmortgagetrends.com
Falling mortgage rates have been one of the biggest single factors escalating home prices. So as rates reverse higher—assuming it’s a sustained increase—values will feel the pressure of deteriorating affordability….
Robert Pozen: How to Create Another Housing Crisis
– online.wsj.com
Newly proposed federal rules gut the requirement in Dodd-Frank that mortgage lenders retain some risk of loss.
A rare breed: Home buyer balks at a $500,000 mortgage
– theglobeandmail.com
Meet Frank, who’s squeamish about spending that much money in the current Toronto real estate market – even though he and his wife are supposed to be able to afford it
The Canadian Payroll Association today released its annual national employee survey citing a five percentage point decline (47% to 42%) in the number of Canadians who would be in “financial difficulty” if their pay were delayed even a week. The stats are slightly worse in Ontario, although the trend is also in the right direction: instead of more than half of Ontarians (52%) living pay cheque to paycheque, the percentage has fallen to less than half, or 48%.
There is of course a huge gulf between barely being able to make the next month’s rent or mortgage payment, and the seemingly universal goal of early retirement. Clearly, half of Canadians haven’t even got out of the starting gate when it comes to establishing a modicum of financial independence. According to the CPA, 40% of employees in Canada are spending all of or more than their net pay, with Ontario mirroring that rate.
Never mind retirement or what I call “findependence.” The scary aspect illuminated by the CPA is that apparently half the country’s workers don’t even have that staple of financial planning called the emergency cushion: typically financial advisers recommend having an emergency cushion of at least six months worth of expenses…
There is of course a huge gulf between barely being able to make the next month’s rent or mortgage payment, and the seemingly universal goal of early retirement. Clearly, half of Canadians haven’t even got out of the starting gate when it comes to establishing a modicum of financial independence. According to the CPA, 40% of employees in Canada are spending all of or more than their net pay, with Ontario mirroring that rate.
Never mind retirement or what I call “findependence.” The scary aspect illuminated by the CPA is that apparently half the country’s workers don’t even have that staple of financial planning called the emergency cushion: typically financial advisers recommend having an emergency cushion of at least six months worth of expenses…
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Paradigm Quest Inc. Position Title: Corporate Account Manager Years of Experience Required: 5+ in the mortgage sales industry Licences or Registrations Required: No Location of Position: Toronto, Ontario Applicants…
