Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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Family legacy: How to pass along the family cottage—and 3 things to avoid + MORE Nov 22nd

The iconic Canadian cottage stands as a symbol of family traditions, summer getaways and cherished memories. Yet, as the years pass and generations shift, the future of a family cottage can become uncertain, thanks to things like family conflicts, financial implications and differing expectations am.... More »

Mortgage brokers are slowly embracing AI tools like ChatGPT + MORE Jul 15th

AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception..... More »

Should retirees consider a home equity sharing agreement (HESA)? + MORE Jan 30th

Toronto-based Clay Financial recently began accepting applications for a new home equity product called a home equity sharing agreement, or HESA—not to be confused with the HISA, which stands for high-interest savings account. Clay raised seed funding in 2023 and is initially launching the prod.... More »

Should retirees pay off their mortgages with investments? + MORE Nov 28th

Ask MoneySense I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are low possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank who holds my mortgage. What do you think? –Li.... More »

The real costs of buying a car Mar 31st

The thrill of driving a new car off a dealer’s lot is appealing, but experts warn not to let the new car smell go to your head when it comes to borrowing money to make it happen. Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know.... More »
The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal.

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