Home / Mortgages / Mortgage Digest: HELOC usage rises to near two-year high as borrowing picks up + MORE Dec 18th

Mortgage Digest: HELOC usage rises to near two-year high as borrowing picks up + MORE Dec 18th

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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The $90-million lesson: Why relationships, not tech, drive mortgage success + MORE Mar 19th

A lender friend of mine, Shane Lapointe, retired last week and I could not be happier for him. Forty-nine years in the industry, 36 of them in the brokering space.  I can only imagine the rule changes and lender switch-ups that he has seen since 1989. .... More »
finance

Rocket Mortgage Canada winding down operations + MORE Mar 7th

Rocket Mortgage Canada is shutting down its lending business, with operations expected to wind down by the end of June..... More »

The best 5-year fixed mortgage rates in Canada Mar 22nd

Mortgage rate comparison tool Customize the filters to compare rate types and terms. powered by Why trust us MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
home loans

Invest or pay off debt: A comprehensive guide for Canadians + MORE Jan 17th

Your net worth is calculated by taking your assets and subtracting your liabilities. Both investing and repaying debt can boost your net worth as a result. The question is: which is better? In our guide about paying off debt versus investing, we cover the options from a number of different perspecti.... More »

BMO reinstates OSFI’s stress test for uninsured mortgage switches + MORE Dec 21st

The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers..... More »
The Canada Mortgage and Housing Corp. says the pace of rent growth cooled significantly this year amid Canada’s largest gain of purpose-built rental supply in more than three decades.

Continue Reading On canadianmortgagetrends.com »

A regular review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.

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Does buying GICs still make sense after the recent rate cuts?The Bank of Canada (BoC) recently lowered its policy interest rate by another 50 basis points, from 3.75% to 3.25%. It was the central bank’s fifth consecutive cut.

What does it mean for Canadians as borrowers and savers when interest rate cuts happen? On the positive side, it means we’re starting to get inflation under control, and lenders are beginning to offer lower rates on mortgages and other types of loans. On the downside, it means the interest rates you can earn on guaranteed investment certificates (GICs)—a popular short-term savings vehicle in Canada—have started to drop.

Grow your savings with a high-interest savings account

Because GIC rates are dropping, Canadians are looking for alternatives for their short-term cash savings. High-interest savings accounts (HISAs) are a good option to consider. Whether you’re setting aside money for home renovations, a big trip or a financial gift to help your child buy their first home, HISAs provide more flexibility and liquidity than GICs, meaning your cash isn’t locked in and you can access it when needed…

Continue Reading On moneysense.ca »

Canada Mortgage and Housing Corp. says the annual pace of housing starts in November rose eight per cent compared with October, helped by strength in multi-unit starts in Quebec, Alberta and B.C.

Continue Reading On canadianmortgagetrends.com »

Stay tuned for more mortgage wisdom brought to you by banks.ca!

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