Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The best credit cards for newcomers to Canada for 2024 + MORE Jul 29th
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 »
Siddall and Taylor Go Head-to-Head Over Housing + MORE Jun 8th
Note: This editorial piece was previously published on RateSpy.com. It is being reprinted with permission due to the important and timely issues raised. Rarely have the heads of Canada’s housing agency and largest mortgage broker association been at such odds publicly. It feels like CMHC bos.... More »
Bank of Canada raises key interest rate to 1.25% + MORE Jan 17th
OTTAWA — The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer — and to send a signal that more increases are likely on the horizon.
The central bank pointed to unexpectedly solid economic numbers as.... More »
The Latest in Mortgage News – Economic Growth & Housing Affordability Dec 3rd
The latest data released over the past couple of weeks are helping to provide a reading on how different jurisdictions in the country are faring when it comes to economic growth and housing affordability. The Conference Board of Canada’s latest Metropolitan Outlook, for example, breaks down re.... More »
Weekly mortgage digest: Canadians are pulling back on borrowing Sep 16th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Detroit is now the hottest market for landlords
– moneysense.ca
(iStock)Motor City is hardly one of the more desirable places to live in the United States, but data provided by RealtyTrac shows that Detroit offers U.S. real estate buyers the biggest return on their investment. Thanks to ultra-low housing prices, the monthly mortgage payments in Detroit are far less than average monthly rents for the same properties. As you can see below, you can still charge a reasonable rent in depressed areas, so the cheaper the house, the bigger the profit.
American counties with the biggest real estate returns:
Detroit-Warren-Livonia, Mich.
Median home price: $44,900
Avg. monthly rent: $1,124
30% annual return
Greenville, Miss.
Median home price: $42,000
Avg. monthly rent: $862
25% annual return
Atlanta-Sandy Springs-Marietta, Ga.
Median home price: $50,750
Avg. monthly rent: $1,187
28% annual return
Macon, Ga.
Median home price: $50,880:
Avg. monthly rent: $1,008
24% annual return
Source: RealtyTrac, based on median sales prices for Jan. 2014 and average fair market rents…
Pro Post: Home Buying Challenges for Immigrants
– ratesupermarket.ca
Carving out your home in a new country is daunting enough – navigating the real estate market is an entirely different challenge. Many newcomers to Canada are keen on becoming home owners – but some may be better off renting as a lack of credit history can mean paying a much higher mortgage rate. Here, pro poster Pracheer Saran shares why his family chose to buy rather than rent.
From Bachelor to Home Buyer
Sitting on my couch watching NBC’s Dateline with a beer in hand, admiring the fabulous view of the CN Tower from my balcony, is how I used describe my Saturday nights to friends. And I was perfectly happy and content with this scenario… until I got married. Maybe it was due to the daily overdose of Canadian home shows like Love it or List It and Property Brothers – but my wife wanted us to buy a house.
Don’t get me wrong; I think it is every immigrant’s dream to have the whole nine yards: a house with white picket fences, a car, kids and a dog like we have seen in Hollywood films…
Can’t Make Your Mortgage Payment? You Do Have Options
– ratesupermarket.ca
Most of us don’t plan on missing our mortgage payments – but has a way of throwing financial curveballs, now and then. Unfortunately, the majority of us also don’t know what our options are if we do find ourselves unable to meet our mortgage obligations. There are a number of unexpected reasons why you could fall behind on payments: unforeseen major expenses, health problems, losing your job, and so on. But there are alternatives to simply waiting around for your lender to foreclose. The key is to know what you can do when the unanticipated happens.
Knowledge is Power
A recent survey commissioned by the Lawyers’ Professional Indemnity Company (LawPRO), found that 61 per cent of Canadians don’t know what their options are if they can’t make their mortgage payments. Nearly three quarters (74 per cent) of younger homeowners (18–34 years old) are unaware of the alternatives to foreclosure available to them.
“Arming yourself with knowledge is key,” says Ray Leclair, vice president of public affairs for LawPro…
Oliver Reaffirms Stance on Mortgage Rates
– canadianmortgagetrends.com
The government controls our existence. It tells us how fast to drive, at what age we can drink, how much taxes we pay and so on. But it should never…
Mortgage Careers of the Week
– canadianmortgagetrends.com
Company: The Mortgage Centre (Durhammortgage.com Ltd.) Position Title: Mortgage Agent/Broker Years of Experience Required: 3 years Licences Required: Mortgage Agent or Broker Location of Position: Toronto (east) and Durham Region,…
