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
What is a mortgage broker? Oct 17th
Mortgage brokers are a highly regulated specialized alternative to Canada’s big banks. But what is a mortgage broker exactly? And, When it comes to the purchase of your home, why would you choose a broker over a mortgage specialist at your bank?
Get the mortgage rate that works for you.Fin.... More »
Is Rent to Own Housing Ever a Good Idea? Sep 17th
The majority of Canadians are homeowners, and many more want to buy, but not everyone can afford to do so. If you’re one of those who are looking to get into the market and don’t have enough money saved up yet or you currently have poor credit, there’s always the option to rent to own.
Unders.... More »
‘It’s choking me’: This homeowner’s mortgage payments have shot up by more than $1,000 a month. What should he do? + MORE Dec 31st
‘I was naive. I’ve never experienced rate hikes like this before,’ homeowner says, adding he plans to switch to a five-year fixed rate when rates hit 3%..... More »
Customer says BMO ignored her plea to cap limit on joint line of credit with ex: debt more than doubles + MORE Apr 9th
An Ontario woman says she is furious that her bank repeatedly increased the limit on a joint line of credit she had with her then-husband, allowing him to rack up debt for which she is responsible. She wants banks to have to get permission before increasing a customer's line of credi.... More »
Big Bank Mortgage Rates Rising: What it Means for You May 3rd
Four of Canada’s Big Six banks have now raised their posted mortgage rates since last week, sparking concern by homebuyers and existing homeowners about the implications. TD kicked off this round of rate increases last week by raising its various mortgage terms, including an astounding 45-bps .... More »
INFOGRAPHIC: The Top Mortgage Moments of 2015
– ratesupermarket.ca
Who says monetary policy has to be boring? It’s been a turbulent year – for borrowers, lenders and policy makers. It’s no wonder Bank of Canada governor Stephen Poloz has been recognized as Canada’s 2015 Business Newsmaker of the Year by The Canadian Press.We’ve highlighted the top mortgage news moments of the year below. Want to read more about each newsmaker? Scroll down for our top headlines by month.
Read More About the Mortgage Moments of 2015
January
Bank of Canada Cuts Interest Rate to 0.75%
Banks Cut Prime to 2.85%
Are Oil Prices Housing’s Kryptonite?
February
How Will Lower Oil Affect the Calgary Housing Market?
CMHC Q1 Report Calls for Housing Market Slowdown
March Rate Cut Looks Less Likely
March
Detached Home Prices Top $1 Million in Toronto
New IMF Warnings for Canada’s Housing Market
BMO Drops Mortgage Rate to 2.79%
April
Atrocious Economic Conditions Expected for Q1
CMHC and Genworth Hike Mortgage Insurance Premiums
Meridian Introduces 1…
Mortgage Debt: Is the Scale Starting to Tip?
– canadianmortgagetrends.com
The “sustained low interest-rate environment” has caused a “significant minority” of Canadians to take on more mortgage debt than they can comfortably manage. That was the conclusion from a recent study by C.D. Howe. Out of all the study’s findings, the one garnering the most headlines was the percentage of homeowners with a mortgage debt-to-disposable income ratio in excess of 500%. That number has rocketed from 3% in 1999 to 11% in 2012 (the latest data available). That’s upwards of half a million households. That led the study authors, Craig Alexander and Paul Jacobson, to suggest that the federal government “may want to consider further policy actions to READ MORE
