Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Mortgage Rates Keep Setting New Record Lows Jul 1st
While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers. Concerns over a second wave of COVID-19 have caused Canada’s 5-year bond yield t.... More »
Half of Canadians Would Rather Renovate than Relocate Mar 24th
A recent RateSupermarket.ca survey revealed over half of Canadians would choose to renovate their current home, instead of moving to a new home, if they had a budget of $50,000.
With the current high-interest-rate environment and introduction of stricter mortgage regulations, there has been great f.... More »
Mortgage renewal strategies in today’s high interest rate environment + MORE May 10th
The current interest rate climate for mortgage brokers and their clients is dramatically different compared to just a year ago, requiring a whole new strategy when it comes to renewals..... More »
The best credit cards for newcomers to Canada for 2024 + MORE Feb 2nd
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... More »
Could a line of credit impact my mortgage application? Nov 16th
Prospective house hunters and those looking to refinance an existing mortgage should consider the impacts of their lines of credit on their mortgage application. That’s because lenders take non-mortgage debt, including line of credit payments, into account when determining how much you can afford .... More »
An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday.
Buying a home is cheaper than renting. Don’t be intimidated!
– canadamortgagenews.ca
Could 2018 be the year where the pessimists finally get their way? I hate to admit it, but this could be the year where buying a home may not be a good idea.
OK, just kidding!!!
But after years of seeing countless articles and posts about rising interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, NAFTA economic fears and Donald Trump (ok, Trump has nothing to do with this, but you can’t write an article these days without blaming him, right?!), does it still make sense to buy a home?
Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.
And renting should scare the life out of you as rents are hitting ridiculous levels. (I have a client in Owen Sound, Ontario looking to buy because renting a house is costing $1,700/month… in Owen Sound!!)
Here are some numbers for you to consider
Today, a household annual income of $70,000 will qualify you for a $300,000 mortgage…
New Rule Targets HELOC Holders Seeking a Second Mortgage
– canadianmortgagetrends.com
The word is out on a little-known policy used to qualify anyone with a HELOC who is applying for additional financing. Several of the Big Six banks have already adopted the policy, which requires applicants to prove they can afford the theoretical monthly HELOC payment based on the limit of that HELOC, rather than the […]
The Latest in Mortgage News – What the Stats are Telling Us
– canadianmortgagetrends.com
A number of reports and surveys have been released over the past couple of weeks providing insight into everything from borrowing trends and consumers’ financial health to the current state of the real estate market. Here’s a recap of some of the most recent data releases: One Fifth of GTA Refi Deals Now Through […]
