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
Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
The latest update to the Consumer Price Index (CPI) basket gives even more weight to shelter costs—particularly mortgage interest and rent—underscoring just how much housing expenses are shaping the inflation experience of Canadians..... More »
Buying a home? Here’s how to decide how much to put down Oct 22nd
Should you put the minimum down, leaving you more for moving expenses or the maximum to reduce your mortgage payments?.... More »
The Latest in Mortgage News: iA Exits the Residential Mortgage Market Sep 18th
After nearly 50 years of providing residential mortgages to Canadians, Industrial Alliance Financial Group announced its exit from the space this month. “This is a result of our decision to focus on investments in key sectors for the Group,” iA spokesperson Pierre Picard told CMT. “.... More »
How to Improve Your Credit Score – Student Edition + MORE Sep 15th
The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit.
But.... 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 »
4 Best Mortgage Apps For Home Buyers
– ratesupermarket.ca
It’s getting difficult to remember a time pre-internet, before app stores offered hundreds of thousands of tools and digital life hacks. Apps that make it easier to shop and make payments have grown in popularity and are commonplace. Now, the ability to pay online is extending to perhaps the largest purchase of your life: your home down payment.
Mortgage apps are a growing sphere. According to the Canada Mortgage and Housing Corporation 2014 Mortgage Consumer Survey, 78 per cent of mortgage consumers researched the home purchase online. Further to that 73 per cent used mortgage calculators and of the 15 per cent who looked into mortgages using their mobile device, 23 per cent used a mortgage app.
To make your homebuying process easier, here’s a roundup of the best mortgage apps.
Canadian Mortgage App
The Canadian Mortgage App by Bendigi Technologies stole our attention with its cleanly designed interface and functionality. In addition to showing all the payments you need to make in real time with amortization charts, the app includes a toggle switch for first time home buyers to calculate your rebate based on the city and province you’re in…
Record low Bond yields means even lower fixed mortgage rates
– canadamortgagenews.ca
Fixed mortgage rates are tied into Govt of Cda bond yields. As the yields go done, so does the fixed mortgage rates.. well, usually.. more on that later..These bond yields have hit all-time lows in the past week… Yesterday, they were as low as 0.55%… To put that into perspective, the 5 yr bond yield […]
Fisgard Spreads East
– canadianmortgagetrends.com
Fisgard, one of the nation’s largest private mortgage investment corporations (MICs), is expanding its business eastward. It launched in Ontario, Saskatchewan and Manitoba this past Monday. It’s an important move for the 21-year-old lender, which has limited itself to the BC and Alberta markets for two decades. Fisgard’s mortgage features will be the same across […]
TD Broker Channel 2.0
– canadianmortgagetrends.com
TD Canada Trust captured 8.7% of the mortgage broker channel in the third quarter, based on the latest market share data we have from D+H. That number is going to jump thanks to one of the most anticipated system changes in broker market history. As of yesterday, TD began outsourcing its broker underwriting to First National, […]
