National Housing Update: How the Real Estate Industry is Faring One Month into 2019 + MORE Feb 16th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The Latest in Mortgage News: 2020 Forecasts + MORE Jan 2nd

Following a challenging 2018, by most accounts 2019 could be characterized as a “turnaround year” for Canada’s housing market. And 2020 is looking to bring much of the same. That’s according to predictions for the new year by CMHC, the Canadian Real Estate Association (CREA) and .... More »

The best 5-year fixed mortgage rates in Canada + MORE Jul 12th

Mortgages The best 5-year fixed mortgage rates in Canada You’re 2 minutes away from getting the best mortgage rates in Canada. Just answer a few quick questions to get a personalized rate quote. I’m buying a home* .... More »

Understanding mortgage affordability Feb 18th

Let’s talk about mortgage affordability. We know that housing affordability is getting further out of reach for many Canadians. But, what determines mortgage affordability? How is it calculated by financial institutions and lenders? And what hidden costs should potential home buyers fact.... More »

How a Mortgage Pre-Approval Can Protect You from Rising Rates Nov 1st

In times of steady or declining rates, you barely pay attention to your pre-approval rate. But these days, this rate hold can be a total game-changer..... More »

Q1 Earnings Mortgage Morsels: TD + MORE Mar 11th

TD Bank kicked off the first quarter with a 13% increase in net income, while the bank's U.S. division saw a 27% leap in earnings growth..... More »
Q. I’m a 23-year-old who just graduated with a Masters degree and I have $30,000 in student debt ($20,000 provincial, $10,000 federal). I also just got a job with an annual salary of roughly $60,000. My question is what is the best way to invest my money (index mutual fund, stocks, online Robo-advisor) so that I can still pay off my loan but also save for the future (i.e. buying a house/condo, getting married, etc.). Thank you!
—Jake
A. Jake, first, I’d like to offer congratulations. Kudos for wanting to reach for these goals and milestones, especially since you are quite young, have just begun your career and are still several years away from big mortgage payments and retirement.
One key thing to note is whether you are living with your parents or on your own. It makes a difference because paying for rent, food, and other shelter expenditures can consume a lot of financial resources. That being said, in either scenario, debt reduction is the best form of investment within either scenario…

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National Housing Update: How the Real Estate Industry is Faring One Month into 2019
Real estate news is typically quiet in January, but there’s been quite a few developments as of late. To quickly recap, Canadian real estate in 2018 ended with four consecutive months of sales declines. Overall, there was a drop of 11 per cent nationwide, with the 2.5 per cent drop from November to December being the biggest month-to-month change in eight months. To no one’s surprise, Toronto and Vancouver led that decline.
The slowdown in 2018 wasn’t a total shock. The Office of the Superintendent of Financial Institutions (OSFI) introduced a new stress test last year that made getting a mortgage more difficult for some people, while the Bank of Canada continued to raise interest rates. These two factors combined with record debt levels cooled the housing market, but we’re definitely not in correction territory.
No sales data yet for 2019, but the industry is still buzzing
At the time this post was written, sales data for January has still not been released, but a few interesting things have already occurred…

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Nine out of 10 mortgage professionals can’t generate good quality leads from the web. Are you one of them? If you want to grow your mortgage business, you have to steadily and consistently generate good quality prospects and leads. However, the landscape is changing rapidly and moving in a direction where conventional marketing is becoming […]

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