Home Sales Fall Sharply From January + MORE Mar 15th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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 Canada mortgage

CMHC’s Siddall Warns Homeownership “Party” Coming to an End + MORE May 12th

The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership as a sole savings vehicle will come to an end. Evan Siddall made the comments during an interview with BNN Bloomberg’s Aman.... More »
 property

Mortgage Industry Reacts to Liberal Budget + MORE Mar 21st

Hoping for minor tweaks to the mortgage stress test, the Liberal government’s 2019 budget instead left many in the industry underwhelmed and with more questions than answers. The stress test was left untouched, and instead Finance Minister Bill Morneau announced two key changes aimed at easing aff.... More »
 line of credit

Taking on a “Fraction” of the Cost; Vancouver Start-Up Promises a Better Incentive for Home Buyers than CMHC + MORE Apr 2nd

An incentive for first-time home buyers offered through the Canadian Mortgage Housing Corporation (CMHC) was only announced a week ago, promising to provide $1.25 billion over three years to help lower mortgage costs for eligible Canadians. However, a new company is now also promising to provide an.... More »
 home

50+ with little or no Mortgage? You Need a Line of Credit! + MORE May 15th

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money. The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend.... More »
Meridian Gets Competitive; Posts Lowest Two-Year Fixed Mortgage Rate on the Market
Meridian is making news as of late, as it recently posted the lowest two-year fixed-interest rate in recent Canadian history, compared to the “Big Five” banks and other lenders on the market. As Ontario’s largest credit union, Meridian is offering a two-year fixed mortgage at 1.98 percent.
This competitive rate may be good news for potential home owners in Ontario. Buying a home has become increasingly difficult across the country in recent years, especially in city centres like the Greater Toronto Area and Metro Vancouver, due to rising interest rates and the mortgage stress test cutting into affordability.
“The reality is that it is next to impossible for many young people to get into the housing market in Ontario today,” said Dayna Whitney, Associate Vice President, Retail, Meridian, in a press release. “We believe this is an extremely competitive rate and it represents an exceptional opportunity to save – particularly for first-time homebuyers.”
The new rate is available to Ontarians who are:

looking to own a primary property up to a maximum purchase price of $1 million with an outstanding mortgage balance (after down payment) of $799,000 or less…

Continue Reading On ratesupermarket.ca »

Home Sales Fall Sharply From January

– canadianmortgagetrends.com

The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also dropped sharply last January when the mortgage stress test came into […]

Continue Reading On canadianmortgagetrends.com »

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