Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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How Canadian homes became debt traps + MORE Nov 15th
(John Lund/Getty Images)
In 1998, Ann bought a one-bedroom condo in the Kitsilano area of Vancouver. Gainfully employed at a printing company, she found the monthly mortgage payments were within her budget (Ann and others quoted in this story asked that Maclean’s not use their full names). The b.... More »
Why borrowers are smarter than they look + MORE Jan 1st
Canadians are constantly criticized taking on too much debt in today’s low interest rate environment. But a new study shows that mortgage holders are paying off their homes faster and faster, thanks to extra payments that are applied to the principal owing rather than the interest. The result is t.... More »
Reverse Mortgages growing in popularity… Product of the year 2018? + MORE Feb 23rd
Mortgage stress test is the buzz phrase in mortgage lending for 2018. Every borrower, regardless of how much down payment you’re making, must pass a stress test to qualify for a mortgage. The math is simple, yet intimidating. Lenders must now use your mortgage contract rate PLUS 2.00% to qual.... More »
The Latest in Mortgage News – Home Prices and Rate Hikes + MORE Oct 4th
Interest rates, and more specifically the growing certainty of higher rates to come, have been dominating headlines following the announcement of a new trade agreement between Canada, the U.S. and Mexico. With the expectation of rising interest rates, many eyes are also on the developments in the re.... More »
Nothing says commitment like a mortgage + MORE Nov 30th
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You can get married, but if you really want to.... More »
Historical Mortgage Losses
– canadianmortgagetrends.com
Canadian mortgages are remarkably low-risk assets, at least according to historical data. BMO Capital Markets put out a recent report which underlined that point. Since 1979, loan losses on uninsured…
