Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Latest in Mortgage News – Industry Announcements Nov 26th
There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »
The latest in mortgage news: record population growth to keep upward pressure on home prices + MORE Jul 21st
Canada's expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report.... More »
What happens when your landlord misses mortgage payments? + MORE Jun 11th
You held up your end of the bargain and paid your rent on time—only to learn your landlord failed to keep up with mortgage payments and the home may need to be sold. Panic sets in, as you don’t know if you can continue to call this place your home. Experts say there are a number of ways thi.... More »
Is Rent to Own Housing Ever a Good Idea? Sep 17th
The majority of Canadians are homeowners, and many more want to buy, but not everyone can afford to do so. If you’re one of those who are looking to get into the market and don’t have enough money saved up yet or you currently have poor credit, there’s always the option to rent to own.
Unders.... More »
Reaction to CMHC’s New Restrictions on Insured Mortgages Jun 7th
Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mor.... More »
Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC
– canadianmortgagetrends.com
Canada’s housing sector indicators, including prices, sales and home starts, aren’t expected to return to pre-COVID levels until at least the end of 2022, according to CMHC’s latest Spring Housing Outlook. “Following large declines in 2020, housing starts, sales and prices are expected to start to recover by mid-2021 as pandemic containment measures are lifted and economic conditions improve,” said the housing agency’s chief economist, Bob Dugan. “Sales and prices are likely to remain below their pre-COVID19 levels by the […]
How to Read Your Credit Report
– ratesupermarket.ca
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply for a credit product, you may request your report to get one number—your credit score. But that detail is just one aspect among a long list of confusing text and alphanumeric codes. Credit reports can seem cryptic and hard for the average consumer to interpret. However, reading and understanding them is an essential part of maintaining good credit and healthy financial habits.
In Canada, consumers are allowed to request their credit report free of charge at least once a year from the two main credit bureaus, Equifax and TransUnion. Asking for your information from one reporting agency and then the other every six months can help you stay up to date with your credit report and ensure the information is accurate…
