Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
B.C. Rules Create Challenges for Creditor Life Insurance Apr 27th
About a year and a half ago, FICOM made a subtle but impactful rule clarification in B.C. The regulator stated that lenders must “play an active and substantial role” in creditor life insurance in order for mortgage brokers to be able to sell it to B.C. consumers. Basically, this means that th.... More »
Rent is up, vacancy is down… rental properties make sense + MORE Feb 13th
Rental properties are a secure long-term investment. Note the emphasis on “long-term”.
Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost alway.... More »
Variable Mortgage Rates to Rise as Prime Rate Jumps to 3.20% + MORE Apr 16th
Variable-rate mortgage holders are about to see their interest costs rise again after Canada's Big 5 banks announced a 50-basis-point hike to prime rate on Wednesday..... More »
Mortgage brokers are slowly embracing AI tools like ChatGPT + MORE Jul 15th
AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception..... More »
How do credit card payment deferrals work during COVID-19? Apr 19th
If you’re dreading your credit card bill, you’re not alone. According to the Bank of Canada, 30% of us carry a balance from month to month, accruing interest, on average, at an eye-watering 19.99%. Simply put, we’re in the red, with an average of $23,800 per Canadian owing on credit cards, lin.... More »
B.C.’s New B-20-like Guideline
– canadianmortgagetrends.com
In June 2012 Canada’s banking regulator (OSFI) created guideline B-20 to tighten underwriting practices on conventional mortgages. To date, provincially regulated lenders (like credit unions) haven’t been significantly impacted by…
