Interested in learning more about property mortgages in Canada? Look no further!
Latest News
How much is the average mortgage payment in Canada? + MORE Aug 12th
There’s a cost-of-living crisis affecting many Canadians in 2023. Despite inflation falling to 2.8% in June, the run-up in prices of 2022 and early 2023 have made many staples, including groceries, unaffordable for everyday people. Meanwhile, the Bank of Canada’s (BoC) efforts to bring infla.... More »
Part 1: Beating the Math: Why Politicians Are Failing Homebuyers and What you can do. Apr 21st
If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the .... More »
Quebec’s legal battle between CNQ and title insurers leaves brokers and homeowners in limbo ahead of mortgage renewal wave + MORE Nov 27th
Quebec-based mortgage brokers and homeowners are caught in limbo due to an ongoing legal battle that is unlikely to be resolved before the renewal tsunami hits..... More »
Opinion: Mortgage loyalty isn’t given, it’s earned + MORE Feb 5th
Jill Moellering shares why clients aren’t just chasing the lowest rate—they’re looking for trust, service, and the right mortgage for their needs..... More »
Tools to calculate your mortgage payments and costs in Canada Nov 1st
Owning real estate is a goal for many Canadians, and while it can be a rewarding investment, it comes with financial responsibilities that you must carefully manage. First and foremost, you need to be able to calculate your mortgage payments, down payment, penalty fees and other costs. Onli.... More »
Home Prices Heat Up Despite High Interest Rates
– canadamortgagenews.ca
Some weird stuff is happening in the world of real estate. As you likely know, the Bank of Canada has steadily raised interest rates over the past year in hopes of cooling inflation. This was also supposed to cool the housing market. Conventional wisdom dictates that higher rates would result in more mortgage defaults, more housing supply, and lower home prices. Oddly enough, none of that is happening.
What’s Going On?
Despite the astronomical spike in interest rates, there are far fewer real estate transactions compared to this time last year. The number of new mortgages being registered has dropped significantly. The rental market has ramped up (a basement apartment in Toronto now goes for $2k – $3k/month, which is ludicrous). And most importantly, real estate prices have skyrocketed. Bidding wars are back in full swing, which is almost the exact opposite of what we expected to see from a rate environment like the one we’re in.
Why Is This Happening?
There are a few factors at play here…
While some Canadian lenders do offer fixed-rate terms for as long as 25 years, a five-year term is far more common in Canada.Health-care workers Annie and Ben, 33, can afford a bigger house. But is now the time as they look to grow their family?
– thestar.com
The couple has a combined annual income of $260,000, a modest mortgage, and is wondering how best to invest their savings.
