Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Would You Buy a Home with Strangers? These Canadian Companies Are Betting On It + MORE Oct 2nd
Lesli Gaynor was tired of renting a home for herself and her two-year-old son. The Toronto resident wanted more space and a more stable living environment, where a landlord couldn’t kick her out. So, in the early 1990s she got together with two friends and bought a house in the city’s Parkdale n.... More »
What’s better for buying a second home: HELOC or personal loan? + MORE Aug 8th
Ask MoneySense
I am considering taking out a HELOC loan to buy another property. Is this a wise decision, or would a loan be better? My bank advises me that I can qualify for a $400,000 HELOC.
–Caren
When buying a second property, Canadians can choose from a number of financing options, inc.... More »
OSFI calls stress test “incomplete,” seeks to address “problem” of fixed-payment variable-rate mortgages + MORE Sep 8th
It's no secret that Canada's banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today..... More »
Here’s how much a GST break could save first-time home buyers + MORE Jun 11th
The Liberal plan to give first-time home buyers a tax break on a newly built home could have substantial impacts on housing affordability—with a few caveats—a new analysis finds.
The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to .... More »
The best credit cards for newcomers to Canada for 2024 + MORE Feb 2nd
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... More »
Bond Yields Are Rising. Are Fixed Mortgage Rates Next?
– canadianmortgagetrends.com
Some of Canada’s Big 6 banks made headlines last week by lowering fixed mortgage rates, but might they soon have to pull a U-turn?
How to get a mortgage with bad credit
– moneysense.ca
Bad credit and a bad credit history happen for a number of reasons: You lost a job, you forgot (or were unable) to pay your bills, you’re new to a country. We’ve been warned about what can happen because of bad credit—you won’t qualify for the best interest rates for mortgages or other types of loans, and, as a result, end up paying more to borrow; and, in some cases, you may not qualify for a mortgage at all. Don’t be discouraged. Even if your credit history and credit score aren’t the best right now, you can still qualify for a mortgage. If you have bad credit, your mortgage contract may come with more terms and more paperwork. But know that bad credit isn’t forever. And, for that matter, neither is a mortgage.
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.
Good vs. bad credit: What is a good credit score?
Your credit score is calculated based on the length of your credit history, your payment history and the amount of debt that you’re carrying…
