Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How much total ‘credit’ should a couple have? + MORE Aug 1st
Q: I’m wondering how much total ‘credit’ I should have? My husband and I have a few credit cards and two Line of Credit (LOCs) between us totalling about $50,000. We don’t have a habit of maxing it out and we pay it off fairly regularly. I’m being offered another LOC f.... More »
Should You Accept That Pre-Approved Credit Limit Increase? Jun 5th
If you faithfully pay your loans, mortgage and credit cards each month, then you’ve probably received a call or letter from your bank with the news that you were pre-approved for a credit increase or a line of credit.
You might be thinking, I don’t even use all the credit I currently have. I do.... More »
Self-Employed but Need a Loan? 7 Things You Need to Know + MORE Aug 25th
Being self-employed has its pros and cons: you may have a more flexible schedule, but you also have a lot more responsibility, especially when it comes to managing your own finances.
According to Statistics Canada, 2.8 million people were self-employed in 2017. And with the swelling ranks of the se.... More »
How to build credit history in Canada + MORE Jun 30th
A credit history is a person’s track record of using credit (borrowing money) and repaying debt. Your credit history can affect many aspects of your financial life—from getting approved for a credit card or renting an apartment to taking out a mortgage or a car loan, among other things. In some .... More »
Good debt and Bad debt…. do we Canadians recognize the difference? Oct 25th
I saw this article from earlier this year about Good debt and Bad debt. Canadian Personal debt levels have now surpassed $2.21 trillion. That’s a big number, should we be concerned? I started to wonder how much of this is Bad debt? Let’s take a closer look at these stats.
First.... More »
Housing starts in Ontario, Quebec slowed in April
– moneysense.ca
OTTAWA – The pace of Canadian housing starts slowed in April to the lowest level in three months.
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Mortgage Costs About to Rise
– canadianmortgagetrends.com
Non-bank lenders rely heavily on securitization (selling mortgages to investors to raise money). They then lend that money out to new borrowers. This July, that’s about to get a whole lot more complicated…and costly. Big changes are afoot in the mortgage business, and they’re coming to a lender near you in two months. They include: Higher fees for lenders who use government-guaranteed mortgage-backed securities (MBS) Restrictions on securitizing mortgages in non-CMHC guaranteed securities A requirement to securitize portfolio (bulk) insured mortgages within six months. New Guarantee Fees The Department of Finance (DoF) wants to spur development of “private market funding READ MORE
