House rich: How to access the equity in your home Nov 16th

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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Latest in Mortgage News – Industry Announcements Nov 26th

There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »

Q3 Lender Earnings: The Unexpected Recovery Dec 2nd

The country’s key mortgage lenders recently released their third-quarter earnings, and it’s safe to say results were better-than-expected all around. Equitable Bank had its best-ever third quarter, while First National had its own record quarter. “For customers and partners, we ori.... More »

“Should we refinance our mortgage?” Nov 19th

Q. We’re thinking about breaking our existing home mortgage to take advantage of the low interest rates we’re seeing now, and would appreciate some guidance. This is our scenario: Mortgage principal: $572,000 Weekly payments: $746.00 Interest rate: 3.78% fixed and locked in until December  2023.... More »
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Should you get a fixed-rate or variable mortgage? In these strange times, fixed has a rare edge Nov 23rd

With rates this low, the usual advantages of renewing with a variable mortgage are diminished or gone, writes David Aston..... More »
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the  equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…

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