Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
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 »
CMLS introduces Aveo Flex 40, Canada’s newest 40-year mortgage + MORE Jan 29th
After its recent acquisition by Nesto, CMLS Group is signalling to brokers that they’re ready to do business, introducing a new partnership program and a 40-year amortization mortgage product..... More »
Where to Buy Real Estate in Canada 2026: Calgary + MORE Apr 30th
When most people think of Calgary, they picture cowboys and oil. They’re not wrong, but they’re about a decade behind. Since 2018, Calgary’s tech sector has grown by 78%.
The city’s food scene spans everything from Ethiopian and Korean spots to farm‑to‑table restaurants,.... More »
Five-year prison terms handed to Fortress founders in mortgage fraud case Feb 22nd
The decision marks a significant enforcement outcome in a case that helped reshape scrutiny of Ontario’s syndicated mortgage market..... More »
Contribute to RRSP or pay off mortgage? + MORE Oct 14th
Ask MoneySense
We have a small mortgage, only $80,000, coming up for renewal. We have some money (approximately $25,000) that we can either put on the mortgage or invest or put into our RRSP. What is the best way to go?
—Linda
Which should Canadians prioritize: RRSP or mortgage?
Most of .... More »
How To Navigate Three Common Mortgage Scenarios
– canadamortgagenews.ca
It’s a confusing time to be a homeowner. Rates are up, and everyone has an opinion on what will happen next. It’s easy to get sucked into social media rabbit holes and make decisions motivated by fear. But at times like these, it’s crucial to block out the noise and do what’s right for you.
To that end, here are three common scenarios along with my recommendations on how to save money and hang onto some peace of mind.
Scenario #1: My mortgage is up for renewal this year
The lowest rates you’ll find right now are 5-year fixed rates. That does NOT mean you should lock into a 5 year commitment. Rates will come down, and they could start as soon as Spring 2024. You don’t want to find yourself in a situation in a few years where rates have come down substantially and you’re still locked in for two more years at a much higher rate.
My advice? Go with a 3-year fixed rate term. I would recommend an even shorter term, but rates for a 1 or 2 year term are as high as 7%…
Canada’s mortgage stress test: Obsolete or still doing its job?
– canadianmortgagetrends.com
Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed with interest rates presumably near their peak.
