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
Q4 2020 Bank Earnings – The End of Mortgage Deferrals Jan 13th
When 2020 came to an end, so too did the vast majority of mortgage deferral programs offered by the Big 6 banks and other Canadian lenders..... More »
Mortgage Digest: 5 big banks cut fixed mortgage rates following bond yield drop + MORE Feb 17th
Mortgage providers nationwide have been gradually lowering their fixed mortgage rates, including five of the country's Big 6 banks..... More »
Siddall and Taylor Go Head-to-Head Over Housing + MORE Jun 8th
Note: This editorial piece was previously published on RateSpy.com. It is being reprinted with permission due to the important and timely issues raised. Rarely have the heads of Canada’s housing agency and largest mortgage broker association been at such odds publicly. It feels like CMHC bos.... More »
Mortgage Brief…BC’s 15% Foreign property tax coming to Toronto? + MORE Jul 29th
And it begins in Vancouver… the long-awaited, little debated foreign property tax is about to begin. Foreigners wanting to buy in Vancouver will need to add 15% to the purchase price.. Put another way, this adds $150,000 to the purchase price of a $1,000,000 property. The new tax begins Augu.... More »
Early cracks in household credit hint at mortgage stress by 2026, CIBC’s Benjamin Tal warns + MORE Nov 6th
Household credit strain is creeping in at the edges, and CIBC economist Benjamin Tal says it could spread to mortgages as payment shocks peak next year..... More »
Canadians are showing a strong ability to manage their debts even as housing prices rise, with arrears on CMHC mortgages at a low 0.34 per cent for the first quarter of this year, according to new figures from the federal housing agency.
How I bought my first house at age 19
– moneysense.ca
(Photograph by Roberto Caruso; Wardrobe courtesy of Harry Rosen)Ever since I can remember I loved spending time at my uncle Stewart’s auto repair shop in Thornhill, Ont. As a child, I’d help wash cars, clean up the shop floor and help out with small repairs. Over time, uncle Stewart made a profound difference in the way I think about money and investing. In fact, his auto garage turned out to be the perfect place to hear stories about the importance of building wealth from a young age.
Uncle Stewart had bought his own house 20 years ago and built his wealth slowly by paying down the mortgage quickly. The lesson for me was obvious—buy a house, pay yourself first by paying off the mortgage regularly and one day, you’ll wake up and the house will be worth a lot of money. For years I watched my mom, a single mom, work hard as a homecare worker and save whatever money she could. Then, three years ago, she bought her first house, too. Seeing both my mom and my uncle have such a passion for building wealth through home ownership inspired me and that’s when I decided to buy a home of my own and start building wealth for myself…
