Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Forget the burbs—should home buyers “fly until they qualify” for a mortgage? Feb 12th
During my time as the resident mortgage expert on CP24’s Hot Property TV show, I started using the phrase “drive until you qualify” to describe the advice given to home buyers struggling to get into hot real estate markets. The idea was that you should expand your search from high-priced urban.... More »
Where to Buy Real Estate in Canada 2026: Greater Toronto Area May 6th
From Blue Jays games at Rogers Centre to weekend hikes in the Rouge Valley, life in the GTA moves at whatever pace you set. Home to more than seven million people, the Toronto region’s high price tags kept many buyers on the sidelines. But as the market recalibrates, a window is opening fo.... More »
Renewing your mortgage but planning to sell soon? Read this first May 12th
Why flexibility and penalties can matter more than rates if you plan to sell within the next 12 months.... More »
The Latest in Mortgage News: OSFI to Re-launch Review of the Uninsured Stress Test + MORE Apr 10th
Canada’s bank regulator has announced it will restart a review of the stress test rate on uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) said it will “resume its policy work on the minimum qualifying rate for uninsured mortgages by issuing a new co.... More »
CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year + MORE Sep 14th
CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates..... More »
Good debt and Bad debt…. do we Canadians recognize the difference?
– canadamortgagenews.ca
I saw this article from earlier this year about Good debt and Bad debt. Canadian Personal debt levels have now surpassed $2.21 trillion. That’s a big number, should we be concerned? I started to wonder how much of this is Bad debt? Let’s take a closer look at these stats.
First, let’s define Good debt. I agree with the article, to me, it’s debt that is used to accumulate an investment or asset and if it’s an investment then you may be able to deduct the interest costs from your income, making it tax-deductible. Investments like a rental property, stocks, bonds, etc would qualify. Borrowing to invest in a rental property is good debt and you can deduct the mortgage interest and other property-related costs from the rental income.
Bad debt is an expense where the interest is not tax-deductible and is used to purchase consumer goods. Things like borrowing for a vacation, a 60″ TV, that new computer, or leather sofa, etc. Hey, we all spend some money on these items, the key is to have some discipline…
First, let’s define Good debt. I agree with the article, to me, it’s debt that is used to accumulate an investment or asset and if it’s an investment then you may be able to deduct the interest costs from your income, making it tax-deductible. Investments like a rental property, stocks, bonds, etc would qualify. Borrowing to invest in a rental property is good debt and you can deduct the mortgage interest and other property-related costs from the rental income.
Bad debt is an expense where the interest is not tax-deductible and is used to purchase consumer goods. Things like borrowing for a vacation, a 60″ TV, that new computer, or leather sofa, etc. Hey, we all spend some money on these items, the key is to have some discipline…
