Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st
Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »
Proof of down payment: The biggest hurdle for mortgage professionals + MORE Aug 4th
For mortgage professionals, verifying a client's down payment sources can be one of the most challenging aspects of the mortgage approval process..... More »
Mortgage payments: Understanding timing and avoiding confusion + MORE Jun 26th
Mortgage payments can sometimes be a tricky topic for some homeowners, leading to confusion about when payments are due and what time period they cover..... More »
We made money on the Toronto housing market. Now what? Nov 4th
We had a plan. We considered the bank’s low interest rates, the rising real estate prices and record low inventory and thought it was the perfect time to cash in on the Toronto real estate market by moving out of the city. My husband and I were going to move from Ontario to Manitoba, selling our E.... More »
How to grow your reverse mortgage business by partnering with realtors + MORE Jun 5th
Bring flexible financing solutions to the table to help realtors close more deals..... 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…
—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…
National Housing Update: How the Real Estate Industry is Faring One Month into 2019
– ratesupermarket.ca
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…
Mortgage Leads From Facebook Messenger? Believe It.
– canadianmortgagetrends.com
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 […]
