Mortgage debt taking up a record share of income Mar 17th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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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 »

Latest in mortgage news: OSFI head applauds lenders’ efforts to shorten amortization lengths + MORE Apr 3rd

OSFI says it is encouraged by the progress Canadian lenders have made in reducing amortization lengths of the mortgages within their portfolios..... More »
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Home Prices Heat Up Despite High Interest Rates + MORE May 1st

Some weird stuff is happening in the world of real estate. As you likely know, the Bank of Canada has steadily raised interest rates over the past year in hopes of cooling inflation. This was also supposed to cool the housing market. Conventional wisdom dictates that higher rates would result in mor.... More »

Mortgage payment calculator + MORE Aug 24th

For the majority of Canadians, buying a home will be the single biggest purchase they ever make, and getting a mortgage is an essential part of this process. But how do you ensure you get a mortgage that you can actually afford over the long term? That’s where a mortgage payment calculator com.... More »

Fewer banking fees, help for mortgage holders—here’s what new rules could mean for Canadians + MORE Oct 29th

On October 17, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced new affordability measures related to mortgages and banking, prepared in consultation with the Financial Consumer Agency of Canada (FCAC), a consumer watchdog organization that focuses on financial services..... More »

Mortgage debt taking up a record share of income


Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household disposable income on servicing their mortgage debt, up from 7.5% in the previous quarter and 7.09% a year earlier. That’s a record high according to data going back to 1990. Looking at total overall debt obligations, the average debt-to-service […]

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