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.
Latest News
Looking for a mortgage in B.C.? Don’t limit your options to the big banks Apr 6th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
EQB sees impaired loans double in Q2, but expects improvement ahead + MORE Jun 5th
Alternative mortgage lender EQB saw a rise in gross impaired loans in the second quarter compared to a year ago, but highlighted recent improvements and expects losses to stabilize going forward..... More »
Thinking of a private mortgage? Here’s what lenders want to see + MORE May 9th
Private mortgages continue to play an important role in today’s Canadian housing market, especially as traditional lending guidelines tighten. Yet many borrowers are surprised to learn that private lenders don’t simply look at one or two factors — they assess a wide range of details that can m.... More »
With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase + MORE Jun 9th
Over two thirds (68%) of Canadians say they plan to wait until mortgage rates drop before they decide to purchase a house..... More »
How new mortgage brokers are overcoming the challenges of today’s high-rate environment Jan 24th
It's no secret that the current high-rate environment has been challenging for mortgage borrowers and mortgage professionals alike..... More »
7 in 10 Homeowners Say They Could Weather Higher Monthly Payments
– canadianmortgagetrends.com
Despite the prospect of higher interest rates ahead, nearly three-quarters of mortgage holders say they could handle a 20%+ rise in monthly payments.
Watch: Does debt impact your mortgage application?
– moneysense.ca
Canadians who are shopping for a mortgage are likely to already have some form of debt. In fact, between things like student loans, car loans, credit card bills and lines of credit, the average Canadian carries around $30,000 of non-mortgage debt, according to TransUnion. So you might be wondering: How does debt impact your mortgage application? Using debt responsibly helps build your credit history, making it easier for you to borrow from banks and other lenders. But could large amounts of debt prevent you from obtaining the mortgage you want?
Watch this video to understand how debt helps lenders determine your credit-worthiness, as well as how much you can afford on a mortgage, when reviewing your application.
Watch: MoneySense – Does debt impact your mortgage application
More on mortgages:
MoneySense Toolkit: The mortgage affordability calculatorWatch: What is mortgage affordability?Could a line of credit impact my mortgage application?
A guide to five-year fixed mortgage rates
A guide to five-year variable mortgage rates
The post Watch: Does debt impact your mortgage application? appeared first on MoneySense.
Bond Yields Surge to a 3-Year High, Fixed Mortgage Rates to Climb Higher
– canadianmortgagetrends.com
After tumbling in late February, Canadian bond yields have since bounced back and beyond, reaching a three-year high on Wednesday.
Mortgage Borrowing Set a New Record in 2021
– canadianmortgagetrends.com
The amount of mortgage debt taken on by Canadians set a fresh record in 2021, eclipsing the previous record set the year before.
