Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
RBC and NBC are the latest big banks to hike fixed mortgage rates + MORE Jun 3rd
RBC and National Bank became the latest Big 6 banks to increase their posted fixed rates this week, following previous increases by BMO and CIBC..... More »
Changes to Canada’s CMB program could have unintended consequences, experts say + MORE May 31st
As the federal government considers streamlining its process for funding mortgages, some worry that changes to the Canadian Mortgage Bond (CMB) program could have unintended consequences..... More »
Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th
The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal..... More »
The best 5-year fixed mortgage rates in Canada + MORE May 28th
Mortgages
The best 5-year fixed mortgage rates in Canada
You’re 2 minutes away from getting the best mortgage rates in Canada. Just answer a few quick questions to get a personalized rate quote.
I’m buying a home*
.... More »
The mortgage stress test has helped protect Canada’s housing market in this downturn: OSFI
– canadianmortgagetrends.com
The mortgage stress test has thus far proven effective in protecting the housing sector from a volatile economy, but further changes haven’t been ruled out, says Canada’s banking regulator.
What happens to your mortgage after a divorce?
– moneysense.ca
Ask MoneySense
My situation is this: My sister has accumulated a huge mortgage with her husband. Her husband has since left her and will walk away from the house as part of their separation agreement. Once his name is off the title of the house, my sister will not be able to make the payments, nor be approved for the mortgage herself. She is refusing to sell her house. She has asked my elderly father to be her co-signer. I think he will feel obligated to agree. If my sister cannot afford the payments once he has co-signed, will my father have to make the payments? Also, when my father passes away, will my sister’s entire mortgage (now half his) automatically come out of his estate? My father would have enough money in his estate to pay the entire mortgage. Or will my sister just need to find another co-signer?
My situation is this: My sister has accumulated a huge mortgage with her husband. Her husband has since left her and will walk away from the house as part of their separation agreement. Once his name is off the title of the house, my sister will not be able to make the payments, nor be approved for the mortgage herself. She is refusing to sell her house. She has asked my elderly father to be her co-signer. I think he will feel obligated to agree. If my sister cannot afford the payments once he has co-signed, will my father have to make the payments? Also, when my father passes away, will my sister’s entire mortgage (now half his) automatically come out of his estate? My father would have enough money in his estate to pay the entire mortgage. Or will my sister just need to find another co-signer?
—Filipa
What happens to your mortgage when you go through separation and divorce
Thank you for your questions, Filipa. Yes, father co-signs the mortgage and your if your sister cannot afford the payments, your father will have to make the payments…
Could diversified funding be the latest trend for alternative mortgages?
– canadianmortgagetrends.com
As the winds of change sweep across the lending landscape, regulatory underwriting guidelines are growing ever tighter. This puts non-bank clients in a precarious position, and mortgage brokers are feeling the pressure.
