Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Why Canadian fixed mortgage rates are rising again + MORE May 15th
After briefly dipping below 4%, most five-year fixed mortgage rates at Canada’s major banks are back above the 4% mark, and could stay elevated for the foreseeable future, experts say..... More »
Mortgage payments are easing overall, but many face renewal stress, TD says + MORE Jul 11th
High-rate renewals are squeezing budgets, but rate cuts and short-term mortgage resets are easing the burden in aggregate, TD Economics says.... More »
U.S. banks snatch up MBS that notched best returns since 2002 + MORE Jan 8th
Flush with deposits, U.S. banks are buying up mortgage bonds and betting that the asset class will get a further boost in 2026 from relaxed capital rules..... More »
Making sense of the markets this week: September 24, 2023 + MORE Sep 23rd
Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors.
No surprise: Canada’s inflation rate ticked up in August
Canada’s annual inflation rate jumped to 4% in August, up from 3..... 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 »
“Performance has been stellar” on mortgage renewals so far: BMO
– canadianmortgagetrends.com
Despite facing mortgage payment increases of roughly 10% to 20%, BMO says the majority of its mortgage clients are having no issues with their renewals.
Scotiabank continues to slow its mortgage business in favour of multi-product clients
– canadianmortgagetrends.com
Scotiabank continued to deliberately slow its mortgage lending in the third quarter amid heightened economic risk and as part of its plan to be more selective with onboarding new clients.
Can you pay off your debt while saving for retirement?
– moneysense.ca
Ask MoneySense
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company pension. He has no RESP saved for his 17-year-old son and is expected to pay $8,000 in tuition fees, starting this September.
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company pension. He has no RESP saved for his 17-year-old son and is expected to pay $8,000 in tuition fees, starting this September.
At 47 years old, I have a single-family home with a $760,000 variable-rate mortgage. This is where our family lives. We are boarding an international exchange student and plan to receive a monthly stipend of $1,200. I have $200,000 saved in an RRSP. I have $60,000 saved in an RESP for my 14-year-old son’s education. Any unused amount will be converted to my RRSP.
We have a cohabitation agreement where we agreed to keep our assets and debts separate.
My goal is to retire by age 65. However, my husband is unable to pay down his mortgage as he swallows his line of credit every five years…
