Latest in Mortgage News: Stress-Test Rate Drops After a Year of No Change Jul 20th

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.
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Q2 2020 Bank Earnings – All About Provisions and Mortgage Deferrals + MORE Jun 19th

For the second-quarter earnings season, all eyes were on the Big 6 banks’ credit loss provisions and mortgage payment deferral programs. With the onslaught of COVID-19, the banks granted payment deferrals to more than 700,000 Canadians to help prevent a wave of defaults. In their second-quarte.... More »
 secure line of credit

Prospective home buyers feel the heat over new mortgage rules, but all hope is not lost, industry leaders say Jul 7th

Mortgage default insurance is mandatory on down payments between five and 19.99 per cent, and as of July 1 it will be even harder to qualify through the national housing agency. But don’t panic just yet..... More »

How do credit card payment deferrals work during COVID-19? Apr 19th

If you’re dreading your credit card bill, you’re not alone. According to the Bank of Canada, 30% of us carry a balance from month to month, accruing interest, on average, at an eye-watering 19.99%. Simply put, we’re in the red, with an average of $23,800 per Canadian owing on credit cards, lin.... More »
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How much do you save with bi-weekly payments? + MORE Feb 7th

For years, we’ve been told to pay our mortgage bi-weekly. Magically, it will  pay your mortgage off faster. Hmm, let’s put that to the test. (SPOILER ALERT!)  Around 10 years ago, I wrote an article showing some simple but effective math to explain this. I’m constantly getting e.... More »
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Information vs advice. Why is it free? Oct 19th

The internet is great for researching infomation, ratings and even advice. With so much available data, it’s hard to decide which is accurate, reliable or even truthful. Take this site for example. If this is your first visit then you may not be aware of all my credentials nor how accurate .... More »
The benchmark posted 5-year fixed rate, which is used for stress-testing Canadian mortgages, fell yesterday in its first move since May 2018. The Bank of Canada announced the mortgage qualifying rate drop to 5.19% from 5.34%. This marks the first reduction in the rate since September 2016. The rate change came as a surprise to […]

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