Mortgage payment calculator + MORE Aug 24th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News

Can you pay off your debt while saving for retirement? + MORE Sep 2nd

Ask MoneySense We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company p.... More »

CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year + MORE Sep 14th

CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates..... More »

OSFI calls stress test “incomplete,” seeks to address “problem” of fixed-payment variable-rate mortgages + MORE Sep 8th

It's no secret that Canada's banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today..... More »

Can a first-time home buyer have a mortgage co-signer? + MORE Sep 17th

If you’re in the market for your first home but need help coming up with the financing, you do have some options, including asking someone to co-sign the mortgage. Involving a third party is probably not what you envisioned for home ownership, but recent interest rate hikes and rising real estate .... More »

Mortgage payment calculator


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 comes in.

Why use a mortgage payment calculator?

Just how much a home mortgage will end up costing you over the long haul can be hard to fully grasp, especially when you factor in interest. A mortgage payment calculator is an indispensable tool that will help you understand what your payments will be over time. It also gives you a more accurate sense of what you can afford. 

By using a mortgage calculator to estimate your payments, you’ll have a more realistic picture of the options available to you—and you’ll be better placed to assess mortgage products. In short, a mortgage payment calculator can help you see how a mortgage fits within your current financial plans, as well as how it may affect your future goals…

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Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon.

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Despite the shock of sharpy higher rates as their mortgages renew, EQB reports that its clients are continuing to prove resilient.

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