Interested in learning more about property mortgages in Canada? Look no further!
Latest News
What to know about mortgages from alternative lenders + MORE Mar 25th
TORONTO — Samantha Brookes has been warning Canadians to take a close look at the clauses in their mortgage contracts for years, but her refrain has become a bit more prevalent in recent months.
Since the Office of the Superintendent of Financial Institutions’ mortgage stress test was implem.... More »
How to Improve Your Credit Score – Student Edition + MORE Sep 15th
The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit.
But.... More »
Manulife’s Natasha Duric: A 30-year mortgage career built on leadership and innovation Oct 13th
Natasha Duric describes her entry into the mortgage industry as “a fluke.”.... More »
Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th
I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying ju.... More »
Rate Reflections + MORE Jul 19th
Some odds and ends from the week’s mortgage rate action… The Misleading Core… One can be forgiven for wondering why the BoC cut the overnight rate ¼ point on Wednesday when its official “core” inflation measure is above target. As it turns out, core inflation (which has stubb.... More »
Make more of your tax-exempt home
– moneysense.ca
(Getty Images/Alex Slobodkin)Canadians are in love with real estate, and no wonder: When you buy a home you can afford, you take a giant step towards tax-efficient wealth creation. Your principal residence will likely be the largest single contributor to your overall net worth; it’s an investment that can provide tax-exempt capital appreciation, the potential for income from rentals or a home business, and leverage with which to acquire new income-producing assets.
Of course, buying a home comes with some big risks as well. In 2012, home mortgages accounted for 77% of all Canadian debt. That debt can become a crushing burden if you suffer a job loss, marriage breakdown or you are forced to renew your mortgage at a much higher interest rate. Capital gains enjoyed on the sale of your principal residence are not taxable, but losses incurred are not deductible either—so it’s doubly painful if you must sell in a hurry at a loss.
Clearly, you need to manage this purchase carefully. The interest rate you pay is important, especially because mortgage interest costs aren’t tax-deductible, unless your home is used for income-producing purposes, such as providing rental accommodation or a home business…
2014 CMHC First-Time Homebuyers Survey
– canadianmortgagetrends.com
Today’s generation of first-time homebuyers are increasingly using the Internet to their advantage when researching mortgages. CMHC’s recently released 2014 First-Time Homebuyers Survey backs that up. The report found that 84% of first-time buyers went online to gather information about mortgage options and features. The figure was 76% for repeat mortgage consumers. First-timers were also more active online […]
