Nothing says commitment like a mortgage + MORE Nov 30th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The wrong way to pay off debt + MORE Sep 10th

I’ve always believed that anyone substantially mired in debt has no business fantasizing about retirement. For me, this extends even to a home mortgage, which is why I often say “the foundation of financial independence is a paid-for home.” Sadly, however, it’s a fact that many Canadian sen.... More »
 loan

How Canadian homes became debt traps + MORE Nov 15th

(John Lund/Getty Images) In 1998, Ann bought a one-bedroom condo in the Kitsilano area of Vancouver. Gainfully employed at a printing company, she found the monthly mortgage payments were within her budget (Ann and others quoted in this story asked that Maclean’s not use their full names). The b.... More »

The latest in mortgage news: BoC rate hike expectations grow May 13th

The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year..... More »

Stress Test Causing National Housing Slump: CREA May 21st

The Canadian Real Estate Association (CREA) blames the mortgage stress test introduced in January for slow activity across the nation in April. The housing market has cooled in all respects from April of last year, when the market peaked: the average sale price declined by 11.3 per cent to $495,000,.... More »

Is Canada’s mortgage stress test still relevant? Aug 24th

Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada's stress test are overdue. .... More »

Mortgage Career: Verico Homeguard Funding Ltd.

– canadianmortgagetrends.com

Company: Verico Homeguard Funding Ltd. Position: Mortgage Underwriter (Full time, salary + bonus) Location: Newmarket, ON Apply to: info@homeguardfunding.com Mortgage Underwriter (Full time, salary + bonus incentive) Experience Required: 2 years+ experience in the mortgage industry, willing to train the right candidate Licences Required: Agent Licence considered an asset but not required   The underwriter will be responsible for: Packaging applications originated by brokers and agents to our lender partners Preparing deal paperwork Reviewing loan documentation Working with clients, lenders and lawyers to ensure the timely closing of mortgage transactions   Homeguard Funding Ltd. is a very well established and READ MORE

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You can get married, but if you really want to to make a commitment to one another, take on a mortgage.
That’s because a mortgage is a commitment that survives, even if both of you don’t. Sounds a bit morbid but couples need to consider what happens should one of you die. If this were to happen, the surviving spouse would still be responsible for paying the mortgage. Yet, most couples base their mortgage payments on two incomes—and this can create a real problem should only one of you survive to pay the bills. 
To help mitigate the risks of too many bills and not enough money, consider life insurance. To help you sift through the options, Bruce Sellery offers some insight.
Ask a Real Estate Expert: Ask our experts your property or real estate question »
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The post Nothing says commitment like a mortgage appeared first on MoneySense.

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What’s New With Lenders & Suppliers

– canadianmortgagetrends.com

Mortgage Professionals Canada’s National Conference has wrapped up in Vancouver. It’s the nation’s largest gathering of mortgage brokers and lenders. One of the best MPC events is perennially the Expo. It’s kind of like Christmas for mortgage brokers because you always discover new products and services to improve your revenue. On that note, here’s some of the news we heard on the show floor: B2B Bank: Is now the only national lender left who still offers a 35-year amortization. Bridgewater Bank: Is reportedly considering re-entering the prime lending market. Eclipse: Is one of the only B-lenders with its own MIC; it’s doing 85% LTV bundles again. Home Trust: Will be announcing a new READ MORE

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