Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How much income do I need to qualify for a mortgage in Canada? + MORE Jun 20th
The Bank of Canada made a long-awaited rate cut on June 5, but the effects of lower mortgage rates have yet to trickle down into housing market data. That was evident in May, as real estate affordability continued to worsen for would-be home buyers.
The latest monthly affordability report from Ra.... More »
Can you pay off your debt while saving for retirement? + MORE Sep 2nd
Ask MoneySense
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company p.... More »
The Latest in Mortgage News: Bond yields soar higher, fixed mortgage rates expected to follow Jun 15th
Bond yields surged to a fresh 14-year high this week, driving expectations that fixed rates are likely to continue rising..... More »
Latest in Mortgage News: June Data Indicates a Housing Rebound. But Will it Last? + MORE Jul 13th
Home prices, sales and new starts are all rebounding, according to the latest June data. But some, including the Canada Mortgage and Housing Corporation (CMHC), say risks remain. This week, a slew of housing data was released from local real estate boards and the CMHC showing overall improvements in.... More »
From military service to mortgage success: How Philippe Gauvin found his perfect calling + MORE Jun 24th
When Philippe Gauvin completed his military service in 2019, he wanted to find a career that similarly valued discipline, a strong work ethic, and that provided the opportunity to help people..... More »
Housing slump? Recession? Not so fast…
– canadamortgagenews.ca
Remember all those pessimists who were calling for a housing bubble or collapse?
If you listened to them and rented for the past eight years, how much would you have lost? How much would your rent have increased since then? And would you still be able to rent that condo or house… or would your landlord possibly have plans to sell it and leave you out in the cold?
We used to expect an economic slowdown or recession every five years. But something happened after the last big recession in 1990. Since then, there has really only been one recession: in 2009.
This came off the heels of the infamous US subprime mortgage crisis that crippled most of the world’s economies for years. Yet, in Canada, we got off relatively easy. Our slowdown lasted less than a year.
Some want to give credit to our strong banking system or strict government regulations. But the truth is, we are – and have always been – around five years behind the US. The truth is, we only started to try out those subprime mortgages when the sky fell on the global financial markets in 2009…
