For many homeowners 55+, the goal is no longer downsizing, but aging in place + MORE Jul 23rd
Desjardins sees mortgage growth drive stronger first-quarter earnings + MORE May 15th
Mortgage rule changes are expanding insured market activity, insurers say Mar 4th
Enforcement against mortgage professionals jumps as FSRA flexes new powers Apr 3rd
Mortgage debt rising fastest among Canadians nearing retirement, data show Apr 27th
Renting vs. buying: Which is the better option?
– moneysense.ca
The rent-versus-buy debate has long divided financial experts and aspiring home owners, with no clear winner in sight.
The traditional argument holds: While buying a home can build long-term equity and stability, renting can provide flexibility and fewer upfront costs. But as home ownership becomes a far-fetched dream for many young Canadians, can renting for life be a viable option?
Alex Avery, author of The Wealthy Renter, thinks so. “It’s different for every person, and each individual’s needs change over time, but I’m still a firm believer that renting is a great option,” he said.
Despite rental prices having soared since publishing his book in 2016, Avery says renting is still cheaper and carries less risk than buying. “People compare mortgage payments to monthly rental rates, but mortgage payments don’t begin to cover the full costs of home ownership,” he said. These costs can include notary fees, realtor commissions and region-specific taxes when purchasing the property as well as ongoing costs such as mortgage interest, property taxes, insurance, and various maintenance and repair expenses…
Mortgage industry rallies behind Habitat for Humanity to tackle affordability challenges
– canadianmortgagetrends.com
Mortgage Professionals Canada has partnered with Habitat for Humanity Canada, pledging $100,000 and volunteer support to help build 10 homes across the country.Managing debt to build wealth
– moneysense.ca
But it’s not all bad news behind the dire headline—and there is an opportunity to help young people, in particular, understand the difference between good debt and bad debt.
So, where’s the good news?
Total consumer debt in Canada was $2.55 trillion at the end of the first quarter (Q1) of 2025, up 4% year-over-year. That’s a huge number—and interestingly, almost twice the federal government’s record-setting debt of just over $1.4 trillion.
Still, that consumer debt number is down more than $6 billion from the end of 2024. While average non-mortgage debt rose to $21,859 per person in Q1 2025, there may be some valid reasons for it.
Age is a factor in debt acquisition
Debt, statistically, is a recurring issue for younger people…
