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
What to do with a rental property when you owe more than it’s worth + MORE Apr 22nd
Q. I bought a home in Fort McMurray, Alta., for $413,000 in 2007. Five years later, in 2012, I moved out and started renting the property, and it has remained an income property since then.
With the decline in oil prices, the town of Fort McMurray has seen real estate losing value like crazy. After .... More »
BoC official warns against playing with mortgage rules to make housing affordable + MORE Nov 9th
The Bank of Canada’s senior deputy governor is warning against adjusting mortgage rules to try to make the prospect of homeownership more affordable..... More »
Why are fertility treatments so expensive in Canada? + MORE May 15th
Being unable to have a child naturally can be extremely difficult. But when you factor in the high costs of fertility treatments, the range of individual circumstances and the fact that the industry itself is secretive about fees, it can make the whole ordeal even more devastating and hard to plan f.... More »
How the Government Has Saved the Economy from COVID-19…So Far Jul 25th
Despite deep economic pain caused by the global pandemic, the Canadian economy—and the housing sector in particular—appears to be bouncing back from the near-complete shutdown of society…at least for now. That’s thanks in large part to numerous government measures meant to keep liquidity flo.... More »
Mortgage renewal strategies in today’s high interest rate environment + MORE May 10th
The current interest rate climate for mortgage brokers and their clients is dramatically different compared to just a year ago, requiring a whole new strategy when it comes to renewals..... More »
Latest in Mortgage News: Industry Announcements
– canadianmortgagetrends.com
Equitable Bank Improves Reverse Mortgage Process Reverse mortgage clients of Equitable Bank can expect a quicker and less expensive closing process, according the the bank. Equitable, one of just two reverse mortgage providers in Canada, announced the launch of its new closing process this week. The change will mean, for example, that borrowers in Alberta, B.C. and Ontario will no longer be required to retain two lawyers to close their deal. Instead, Equitable Bank can work directly with their own […]
When a Second Mortgage makes good financial sense.
– canadamortgagenews.ca
Quick, what’s the first thing that comes to mind when you think of “second mortgages”? For some, it could be that shady-looking character in a smoke-filled pool hall… guys with gold chains and a baseball bat nearby. Maybe you’re thinking of someone in financial trouble? Or, perhaps it’s just someone who doesn’t want to pay outrageous costs and penalties to refinance their existing mortgage.
The mere mention of second mortgages conjures up all sorts of images. Most of them, negative. For many, a second mortgage can be a last-resort solution during a financial crisis. For several others, it can be an opportunity to save money. That’s right, to save money.
Sure, second mortgages carry a higher interest rate than first mortgages, but they can also serve a purpose. One of those purposes can be to save you money. Yup, I said it again. There are some new trends emerging with today’s new mortgage products that are forcing consumers to seek other options…
