Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
California's Mortgage Raid + MORE Sep 24th
Jerry Brown and the Legislature refuse to honor a court order..... 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 »
Credit Scores Improving, Says CMHC + MORE Sep 28th
New data from CMHC shows average credit scores of mortgage holders across the country are continuing to rise. A full 80.7% of mortgages in Canada are held by borrowers with a “very good” (700-749) or “excellent” (750+) credit score, CMHC says. That’s up from 78.2% in 2012. Meanwhile, t.... More »
How Canadian homes became debt traps + MORE Nov 15th
(John Lund/Getty Images)
In 1998, Ann bought a one-bedroom condo in the Kitsilano area of Vancouver. Gainfully employed at a printing company, she found the monthly mortgage payments were within her budget (Ann and others quoted in this story asked that Maclean’s not use their full names). The b.... More »
Is it the right time to buy a house? Yes. If you have answers + MORE Jul 8th
Housing market is tough to get into—prices are high, but interest rates are low, so how do you know if it’s the right time to buy?
The practical answer has little to do with mortgage rates or housing prices and everything to do with with where you see yourself in five to 10 years. Do you expe.... More »
Build a portfolio you can ‘set and forget’
– moneysense.ca
Ian Nelson, 37, Toronto (Photograph by Roberto Caruso)The Problem
Ian Nelson is a 37-year-old married father of two from Toronto who has spent the last several years paying off the mortgage on his $750,000 home and adding to his retirement savings. Right now, he has a six-figure portfolio invested solely in RRSPs that includes several Canadian stocks as well as three mutual funds, a handful of exchange-traded funds (ETFs), GICs and $16,000 in cash. Now, he’s looking for a well-diversified portfolio that’s low-cost and low-maintenance. “I invest $5,500 quarterly into RRSPs and expect to do this until retirement at age 55. I want to simply buy and hold.”
It’s no small feat to create a low-fee portfolio that doesn’t require annual rebalancing, says Miles Clyne, a portfolio manager with the Tycuda Group at MacDougall Investment Counsel Inc., in Langley, B.C. “But it can be done.”
The Fix
To get the asset allocation and diversification Nelson needs, Clyne recommends that he build his portfolio using two of the four ETFs that make up the iShares Portfolio Builders series of funds: the Conservative Core fund (XCR) and the Global Completion fund (XGC)…
Mortgage Career: Peoples Trust
– canadianmortgagetrends.com
Company: Peoples Trust Company Position: Underwriting Assistant Location: Vancouver, BC Apply to: Click here Underwriting Assistant Do you want to be part of a smaller more personal organization? One that recognizes that people are the cornerstone of its continued success. If so then Peoples Trust is where you want to be. We offer long-term careers, competitive compensation packages and a great place to work, combined with the opportunity for personal and professional growth. We are looking for a Mortgage Underwriting Assistant to join the Toronto Branch team! Peoples Trust is a successful Financial Institution located in Vancouver, with over $6 READ MORE
Mortgage Career: MCAN XCEED Mortgage Corporation
– canadianmortgagetrends.com
Company: MCAN XCEED Mortgage Corporation Position: Senior Underwriter Location: Toronto, ON Apply to: careers@mcanmortgage.com Senior Underwriter ABOUT MCAN MORTGAGE CORPORATION MCAN Mortgage Corporation (“MCAN”), listed on the TSX under the symbol MKP and is a reporting issuer in all provinces and territories in Canada, qualifies as a mortgage investment corporation (“MIC”) under the Income Tax Act (Canada) (the “Tax Act”) is regulated by the Office of the Superintendent of Financial Institutions (“OSFI”) and issues term deposits eligible for deposit insurance from the Canada Deposit Insurance Corporation (“CDIC”). MCAN also participates in the Canada Mortgage Bonds program, and other securitizations of READ MORE
CIBC’s New Mortgage App Raises Stakes – Part I
– canadianmortgagetrends.com
There’s a digital revolution underway in mortgages, and more people realize it every day. But some believe that stodgy old banks are behind the Internet curve. They claim that big banks are slow to adapt, that they steer more like a supertanker than a speedboat and that banks would rather shelter their precious branch networks from the margin threat of online channels. Well, times are changing, my friends. When CIBC launched its mortgage app two weeks ago, it put the mortgage industry on notice that technological competition is en route, and it’s coming hard and fast. Named “Hello Home,” CIBC’s new app is something you might expect from a READ MORE
Should you look at 10 year fixed rate mortgages?
– canadamortgagenews.ca
Today, right now, we are experiencing all-time record low fixed mortgage rates. Great news if you need a mortgage. And some of you may be thinking of locking into a longer term mortgage. Let’s take a look at that option. Going longer could be an option for some. The Best 5 yr fixed is […]
