Is saving for your child’s education still worth it? The research says yes Sep 16th
Home prices could hit peak levels by next year, set new highs in 2026: CMHC report + MORE Apr 6th
Mortgage market braces for impact as one million renewals loom and defaults climb + MORE Mar 16th
Mortgage arrears have yet to peak, but unlikely to reach long-term norm: BMO + MORE Aug 1st
Even with expected rate cuts, mortgage payments will continue to rise for years: BoC research Jan 9th
Mortgage payment calculator
– moneysense.ca
For the majority of Canadians, buying a home will be the single biggest purchase they ever make, and getting a mortgage is an essential part of this process. According to a National Bank of Canada report, the majority of variable-rate-fixed-payment mortgage borrowers who signed onto between 2020 and 2022 have hit their trigger rates this year. What is a trigger rate? That’s when the interest rate hits a level when the entire mortgage payment goes toward interest, and not paying down the mortgage. But how do you ensure you get a mortgage that you can actually afford over the long term? That’s where a mortgage payment calculator comes in.
Why use a mortgage payment calculator?
Just how much a home mortgage will end up costing you over the long haul can be hard to fully grasp, especially when you factor in interest. A mortgage payment calculator is an indispensable tool that will help you understand what your payments will be over time. It also gives you a more accurate sense of what you can afford…
How mortgage brokers can capitalize on the popularity of text messaging
– canadianmortgagetrends.com
How to build a credit history while renting in Canada
– moneysense.ca
Being a young adult may afford you the freedom to live on your own. But for most people, that means renting a space—more than 80% of individuals aged 25 to 29 are renters. What’s more, younger Canadians who live in urban areas make up the largest group of renters, according to a study by RBC.
As you start your career and put money into your savings account, you’ll soon realize your credit history and credit score are important factors in getting approved for credit products. For instance, if you want a credit card, car loan, line of credit or mortgage, you’ll need a credit history and a decent credit score to prove to lenders that you will reliably make payments on time.
In the past, Canadians weren’t able to build their credit through renting. Fortunately, in recent years, new programs have launched to help renters build their credit history. Here, I’ll share how you can apply for these programs to help you reach your financial goals and become established later on in life, like buying a home…
Latest in mortgage news: Mortgage rates keep surging higher
– canadianmortgagetrends.com
