Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
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 »
Scotiabank’s return to competitive mortgage pricing is “huge” for brokers + MORE Aug 2nd
Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, .... More »
The latest in mortgage news: Half of borrowers concerned about mortgage renewals Apr 7th
Nearly half (47%) of Canadians buying or renewing a mortgage say they are concerned about qualifying for the amount they need..... More »
The bond risk many investors overlook Jul 5th
When you buy a bond, there’s a chance the borrower might not be able to pay you back, but bonds also carry a different kind of risk. Duration, or interest rate risk, is related to a bond’s sensitivity to changes in interest rates.
When interest rates go up, you won’t be able .... More »
Mortgage Expert alert: Why Canadian housing seems unaffordable in 2026: A 35-year real estate disconnect + MORE Jun 5th
The dream of home ownership in Canada appears distant in today’s mathematical reality. Housing costs account for nearly 30% of household income. Older generations survived 12–18% interest rates in the 1980s and early 1990s. At the time, home prices equaled two or three years of household income..... More »
‘It’s choking me’: This homeowner’s mortgage payments have shot up by more than $1,000 a month. What should he do?
– thestar.com
‘I was naive. I’ve never experienced rate hikes like this before,’ homeowner says, adding he plans to switch to a five-year fixed rate when rates hit 3%.How much credit card debt does the average Canadian have?
– moneysense.ca
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these forces are adding pressure to those with variable-rate loans and mortgages. Unsurprisingly, many Canadians are using their credit cards to charge their expenses.
How much debt does the average Canadian carry?
The average monthly credit card spend for Canadians was almost $2,447 in the third quarter of 2022, up by 17.3% compared to the same time in 2021 and up 21.8% in 2019, according to Equifax. And from another report from the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,183—excluding mortgages. These numbers represent an increase of 8.2% over last year, and 6.4% between the first and second quarters of 2022…
