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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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

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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

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Mortgage debt taking up a record share of income

– canadianmortgagetrends.com

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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