Opinion: S&P Overstates Broker Fraud Driver + MORE Mar 22nd

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

Customer says BMO ignored her plea to cap limit on joint line of credit with ex: debt more than doubles + MORE Apr 9th

An Ontario woman says she is furious that her bank repeatedly increased the limit on a joint line of credit she had with her then-husband, allowing him to rack up debt for which she is responsible. She wants banks to have to get permission before increasing a customer's line of credi.... More »

Average cost to rent condo in GTA hits $2,206, up by $214 in past year + MORE Apr 12th

The average cost to rent a condominium in the Greater Toronto Area has risen by almost 11 per cent in the past year, partly because tougher mortgage rules have shut out new buyers and flooded the market with renters, a new report by research firm Urbanation says..... More »
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Ontario Housing Market: Increased Opportunity for Investors! + MORE Apr 6th

Rental vacancies are ridiculously low and demand for rental units is high… and growing! That’s just a sampling of the opportunistic real estate investment news Ted Tsiakopoulos, CMHC’s Regional Economist for Ontario, shared recently at the Canadian Mortgage Brokers’ Associat.... More »

My fellow partisans: How we can yell at each other more thoughtfully + MORE Mar 31st

Jason Lietaer is a conservative strategist and commentator who is the president of the national communications firm Enterprise Canada. He is an aspiring participant of championship parades to be held for the Leafs and Raptors. Over the past several years, fuelled by the rise of social media and an i.... More »
 mortgage penalties

The Latest in Mortgage News – New Era, New Choices + MORE Apr 3rd

Here’s our latest recap of Canadian mortgage and real estate news. This week we look at: The latest housing affordability report, which came out with fairly predictable results How the post-OSFI stress test bump in business for credit unions may not be materializing What HomEquity’s 2017.... More »
RRSP, RESP, TFSA or Mortgage prepayment… Which offers the best bang for my buck?
Trying to decide what’s the best move can be difficult… and, I must admit, this isn’t an easy subject to tackle. There are so many opinions! But it’s important enough that I’m going to put my two cents into the discussion. (My final recommendations are listed at the bottom if you want to fast forward.)
First, let’s come to the understanding that we’re all different and have unique needs. You must first ask for professional advice in order to make up your own mind. Having said that, I think that, for me, this is actually a very easy decision.
RESP – If you have kids, put money into a Registered Education Savings Plan. The government gives you 20% on a max contribution of $2,500/year per child. That’s $500 in free money! Just be careful not to invest in any risky funds or stocks.
TFSA – If you have some extra cash then, yes, put those funds into a Tax-Free Savings Account. You can contribute $5,000/year and any unused contribution limit carries forward each year…

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Opinion: S&P Overstates Broker Fraud Driver

– canadianmortgagetrends.com

A few weeks ago, S&P said Canadian bank risk was rising, and it blamed mortgage brokers in the process. The rating agency wrote: “…The growing share of residential mortgages originated via brokers, compound the risks of high household debt and house prices…As brokers do not bear credit risk for the residential mortgages they initiate, and […]

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