Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Google Cans Mortgage Comparison Website + MORE Feb 24th
After less than a year in operation, Google is reportedly abandoning its mortgage comparison business in the U.S. It’s also closing its well-established U.K. mortgage site. Dow Jones reports that Google sent a letter to advertisers saying the sites would shut down March 23, 2016. A Google spokespe.... More »
Talking Points: Of carbon lows and tennis woes + MORE Mar 10th
(Bill Ingalls/NASA/Getty Images)
Need an answer for that? Trying to look like the smartest person at the dinner party? Our Talking Points have you covered. Read our short takes on some of the big stories from the week that was:
Peak carbon? China’s emissions may already be falling.
China’s c.... More »
Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes Apr 13th
The COVID-19 pandemic has swept many Canadians into unanticipated financial uncertainty. Mass temporary layoffs and job losses have left hundreds of thousands of people wondering how they are going to pay their rent and credit card bills in the coming months.
While the federal government is taking .... More »
CMHC reports annual pace of housing starts down in May compared with April Jun 17th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in May fell 6% compared with April..... More »
Ask the Expert: Steve Garganis – How Trump’s tariffs will affect your Canadian mortgage + MORE Feb 1st
I will start with a quote from Trump’s book, The Art of the Deal
“I aim very high and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes I settle for less than I thought but I still end up with what I want.“
In the summer of 2016, ahead of .... More »
Mortgage Career: True North Mortgage – Salaried Mortgage Agents
– canadianmortgagetrends.com
Company: True North Mortgage Location of Position: Toronto, ON and Calgary, AB Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agents Job Description True North Mortgage is looking for mortgage agents for our Toronto and Calgary locations. This position comes with a base salary and […]
Mortgage Career: IMBA – Coordinator, Professional Development and Membership Services
– canadianmortgagetrends.com
Company: IMBA Location of Position: Greater Toronto Area Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agents Position Posting Co-ordinator, Membership and Professional Development Services Employer The Independent Mortgage Brokers Association of Ontario (“IMBA”) – a not-for-profit trade association Employment Commencement Date Negotiable but no […]
House rich, cash poor in retirement
– moneysense.ca
Getty ImagesQ: My wife (58) and I (57) are house rich, cash poor and just got approved for a line of credit for $600,000. We’re planning to retire at 65. We have no savings, no RRSPs and no TFSAs. When I reach retirement, I would like to get about $20,000 per year to spend on top of CPP and OAS. That’s the reason why I applied for the line of credit. Right now I’m still working and my annual income is about $70,000. If I borrow to invest, I could claim the interest on my tax return. Is it the right move or is there a better way to prepare for retirement?—T.
A: In an ideal world, we all go into retirement with a pension, investments and a paid-off house. In the real world, that doesn’t always happen. All you can do is try to plan the best course of action.
First off, the maximum CPP at age 65 is currently $12,460 and OAS is $6,765. Entitlement to CPP is based on years of contributions, while OAS is based on years of residency in Canada. These pensions are indexed to inflation…
