Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Mortgage penalty calculations.. More important than the interest rate. + MORE Apr 27th
WHY ISN’T ANYONE TALKING ABOUT THIS? You bought a home… you need a mortgage.. what’s the first question you ask your Banker? “what’s your best interest rate?”. And the second question is usually, “what product should I choose?”. Almost no one ask.... More »
Should you break your mortgage? + MORE Dec 20th
Joakim Tjernell was pretty proud of himself—he’d done a damn good job of shopping for a mortgage. It was back in June of 2009 and Tjernell, a translator in his 30s, had been eyeing units in a slick modern condo building on Toronto’s Bathurst Street for a while. There was a lot of paperwork—T.... More »
What to do with a rental property when you owe more than it’s worth + MORE Apr 22nd
Q. I bought a home in Fort McMurray, Alta., for $413,000 in 2007. Five years later, in 2012, I moved out and started renting the property, and it has remained an income property since then.
With the decline in oil prices, the town of Fort McMurray has seen real estate losing value like crazy. After .... More »
‘It’s choking me’: This homeowner’s mortgage payments have shot up by more than $1,000 a month. What should he do? + MORE Dec 31st
‘I was naive. I’ve never experienced rate hikes like this before,’ homeowner says, adding he plans to switch to a five-year fixed rate when rates hit 3%..... More »
Wallison: Get Ready for the Next Housing Bubble + MORE Dec 5th
Mel Watt is a long-time champion of mortgage quotas for affordable housing. Here we go again..... More »
New CMHC Guarantee Cap Could Raise Mortgage Rates
– ratesupermarket.ca
New restrictions were announced today by the Canadian Mortgage and Housing Corporation (CMHC) that could make it harder to qualify for a mortgage – and may also push mortgage rates to new highs.
The crown corporation has introduced a monthly cap on mortgage guarantees at $350 million for each mortgage lender, including all banks and credit unions. The move is the latest effort made by the government to slow the housing market and decrease Canadian household mortgage debt levels.
Prior to these changes, banks had access to an annual guarantee cap of $900 billion. However, a flux of new mortgages in 2013 has prompted the government to take further action to cool the housing market. The first step was implementing a $85-billion budget for 2013 under the National Housing act Mortgage Backed Securities program – but $66 billion of those funds have already been committed, as of the end of July. The new monthly cap has been put in place to counter this higher than expected mortgage volume…
CIBC Mortgages – 4 year Variable Opened : 3.29% (-1.1%)
– ratesupermarket.ca
CIBC Mortgages 4 year Variable Opened mortgage rate was changed on July 26, 2013
ATB Dumps Posted Mortgage Rates
– canadianmortgagetrends.com
Alberta’s largest financial institution, ATB Financial, is departing from the long-standing practice of displaying artificially high “posted” mortgage rates. It’s a big move for the 75-year-old institution. ATB has used…
Mortgage news
– moneysense.ca
The CHMC is limiting guarantees it offers banks and other lenders on mortgage-backed securities which could in turn lead banks to raise interest rates on residential mortgages.
It’s official. Actuaries are now using updated tables that show we’re living roughly two years longer to calculate pension liabilities, says Towers Watson. So what does this mean for savers and investors? As life expectancy increases, employers will need to cover higher numbers of pensioners for longer periods of time, increasing pension liabilities and requiring larger pension contributions which could affect balance sheets fairly quickly. It also means workers with a defined-contribution plan could have to save more or delay retirement.
New time restrictions, fees and baggage requirements….Air Canada’s check-in crackdown needs fixing, writes Peter Nowak for Canadian Business.
It’s official. Actuaries are now using updated tables that show we’re living roughly two years longer to calculate pension liabilities, says Towers Watson. So what does this mean for savers and investors? As life expectancy increases, employers will need to cover higher numbers of pensioners for longer periods of time, increasing pension liabilities and requiring larger pension contributions which could affect balance sheets fairly quickly. It also means workers with a defined-contribution plan could have to save more or delay retirement.
New time restrictions, fees and baggage requirements….Air Canada’s check-in crackdown needs fixing, writes Peter Nowak for Canadian Business.
Couple in 40s, see early retirement ahead
– thestar.com
Monday Makeover looks at a couple close to mortgage-free and 14 years from retiring, thanks to some prudent moves and good fortune.
