Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The importance of effective listening to your success as a broker + MORE Dec 16th
As mortgage brokers look for ways to stand out in a competitive industry landscape, it’s increasingly important to consider the impact that clear and concise communication can have on service levels..... More »
Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes Apr 13th
The COVID-19 pandemic has swept many Canadians into unanticipated financial uncertainty. Mass temporary layoffs and job losses have left hundreds of thousands of people wondering how they are going to pay their rent and credit card bills in the coming months.
While the federal government is taking .... More »
The State of Rental Financing + MORE Apr 18th
Last November the Department of Finance banned default insurance on single-family rentals. That was a near-knockout blow to the rental financing businesses of lenders who rely on securitization. Since then, lenders who compete with the big banks have been forced to find new balance sheet funding. Th.... More »
How to Improve Your Credit Score: Improving Your Credit Fast + MORE Mar 25th
This monthly series by personal finance specialist Amanda Reaume focuses on how to improve something that many people overlook: your credit score. These posts will give you tips and tricks to improve your chances of getting approved for better rates when you apply for credit – leading to better s.... More »
Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More? + MORE Mar 17th
Your finances are in order and you’re pretty sure you can qualify for a mortgage. Congratulations, this is the first step on the road to homeownership. But can you pass our mortgage myths test?
If you’re a newbie homebuyer, making your way through the maze of mortgage terms, types, and down pay.... More »
HomEquity’s New Reverse Mortgage Certification Program
– canadianmortgagetrends.com
As reverse mortgages become more mainstream, it will become increasingly important for mortgage brokers to master their intricacies. To assist in that, HomEquity Bank has launched a new reverse mortgage certification. The Mortgage Broker Direct program is a no-fee certification process that provides approved brokers with: a professional designation as a Certified Reverse Mortgage Specialist 2.5 continuing education (CE) credits, and specialized marketing support. Certified brokers will have two products available to them: HomEquity’s classic CHIP Reverse Mortgage and the Income Advantage (which is the more flexible of the two). HomEquity Bank says more than 500 brokers have already been certified in the program, and it expects another READ MORE
I’m Mortgage-Free By 30 – Here’s How
– ratesupermarket.ca
In August 2012 I bought my first house – a beautifully renovated three-bedroom bungalow with a basement apartment. I was thrilled to have finally become a homeowner, having spent two years searching for a detached house in Toronto, Canada’s second-priciest housing market. It cost me $425,000 and I made a sizeable down payment of $170,000. That left me with with a $255,000 mortgage – an amount I’m proud to say I have paid off in full as of today, September 22! You read that right – I’ve paid my mortgage down to zero in just over three years, all before turning the ripe old age of 31!
Reaching My Mortgage Goal
It’s been a long journey to mortgage freedom. Last summer I set the ambitious goal of paying off my mortgage by age 31 (I had originally aimed to pay it off before Star Wars: the Force Awakens hits theatres on December 18) – and have managed to do so, three months ahead of schedule! To celebrate, I’m throwing a mortgage burning party to thank my friends for their support…
