How can an extra $100 boost your mortgage? + MORE Mar 28th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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Not just new buyers: Mortgage stress test rules putting the squeeze on renewals, too + MORE May 15th

It's not just new homeowners who are feeling the impact of higher interest rates and tougher lending standards: even those who've already bought are feeling the heat..... More »

My fellow partisans: How we can yell at each other more thoughtfully + MORE Mar 31st

Jason Lietaer is a conservative strategist and commentator who is the president of the national communications firm Enterprise Canada. He is an aspiring participant of championship parades to be held for the Leafs and Raptors. Over the past several years, fuelled by the rise of social media and an i.... More »
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BREAKING: Ontario Car Insurance Rates Increase + MORE Apr 21st

Here at, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.23 per cent on average.... More »
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The Latest in Mortgage News – New Era, New Choices + MORE Apr 3rd

Here’s our latest recap of Canadian mortgage and real estate news. This week we look at: The latest housing affordability report, which came out with fairly predictable results How the post-OSFI stress test bump in business for credit unions may not be materializing What HomEquity’s 2017.... More »
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Mortgage up for renewal? Read this first + MORE May 9th

New mortgage rules and higher interest rates may make it more difficult for you to renew your mortgage..... More »
National Housing Update: Why Prices are Declining and What to Expect for 2018
Three months into 2018, it seems like the Canadian housing market is down again with sales volume dropping 16.9 per cent in February compared to this time last year. According to the Canadian Real Estate Association (CREA), there was also a 6.5 per cent drop compared to January, which is the biggest decline in nearly five years.
This shouldn’t be a huge surprise since the Office of the Superintendent of Financial Institutions (OSFI) introduced tighter mortgage rules effective January 2018. As a result, some homeowners rushed to make their purchase before the new rules took effect, which is why there was a lot of sales activity leading to the end of 2017.
National prices on the decline
When looking across the country, the average price of homes sold fell five per cent from one year ago to $494,000. If you remove the hot markets of the Greater Vancouver and Greater Toronto, then prices would fall another $112,000 – averaging at $382,000.
“Sales activity is down in many, but not all, housing markets compared to the end of last year, and varies depending on price range, location and property type…

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What to know if you’re considering a mortgage from an alternative lenderWhile alternative lenders can provide a lifeline for Canadians who have run out of other financing options, it’s important to read the fine print.

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How can an extra $100 boost your mortgage?
When it comes to mortgages, $100 isn’t going to get you very far. But what if you paid an extra $100 a month towards your mortgage? It’s not a lot of money these days, but it can add up to some solid savings over time.
Let’s look at a $300,000 mortgage with a 2.89% rate and a 25-year amortization. At the end of five years, you’ve paid off an extra $6,444. The balance owing is $249,435. And the remaining amortization is 17 years and 9 months instead of 20 years.  This also represents an interest savings of $11,423 over the life of the mortgage. Not bad!
Now let’s look at paying an extra $200 per month. At the end of five years, you’ve paid off an extra $12,888. The balance owing is $242,991. And the remaining amortization is 15 years and 11 months. This represents an interest savings of $20,708 over the life of the mortgage!
But what about higher interest rates? Today’s rates are extremely low and we all know they’re expected to increase gradually over the next couple of years (click here for more on rising rates)…

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