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.
Latest News
Is it time to search for bond alternatives for your balanced portfolio? + MORE Oct 20th
I was recently warned by someone in the financial sector that it’s not a great time to invest in bond ETFs. My current asset allocation is 60% equities and 40% bonds, so I’m wondering what alternatives would you suggest for that 40% portion of my balanced portfolio?
At first I considered real.... More »
Some banks rethinking strategy on home mortgage competition + MORE Sep 7th
Some Canadian banks say they're starting to question how aggressively they go after mortgage customers amid intense competition..... More »
Mortgage digest: More Canadians sidelined from homebuying as recession fears rise May 21st
A growing number of Canadians are pressing pause on homebuying plans as economic anxiety deepens, according to BMO’s latest Real Financial Progress Index..... More »
Canada’s inflation rate falls to 2.5%, paving way for another interest rate cut + MORE Aug 23rd
Canada’s annual inflation rate fell to 2.5% last month, matching economists’ forecasts and solidifying expectations for a third consecutive interest rate cut in September.
Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the.... More »
Honouring the latest Mortgage Hall of Fame inductees Oct 20th
After a pandemic-induced hiatus, hundreds of mortgage professionals gathered at the Vancouver Convention Centre Monday night to honour the latest inductees into the Canadian Mortgage Hall of Fame..... More »
House rich: How to access the equity in your home
– moneysense.ca
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…
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…
