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
How retired parents can use the FHSA to help their adult children + MORE Mar 26th
If you’re a retiree or close to retiring, you probably have a paid-off principal residence, or should be close to having one.
However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still diffi.... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
Why mortgage brokers should know prepayment penalty calculations inside and out Mar 20th
All mortgage brokers should have a comfortable working knowledge of how prepayment penalties are calculated and applied. .... More »
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 […]
