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

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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The Best Place to Save Your Home Down Payment Apr 24th

The Canadian housing market can be difficult to gauge at any given time, especially during times of new mortgage qualifications, news of sales decreasing, and forecasts of interest rates increasing in the near future. Under the current conditions, some potential home buyers may be conflicted; t.... More »
 home equity

Stress Test Impacts Measured + MORE Jul 26th

The government’s latest mortgage rule changes have caused an imbalance between supply and demand in almost every region of the country, and will result in an estimated 200,000 fewer jobs being created over the next three years. Those are among the findings of Mortgage Professionals Canada’s .... More »
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How to Improve Your Credit Score – Student Edition + MORE Sep 15th

The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit. But.... More »
 mortgage buyout

Record-Low Variable Rate Wars EXPIRE THURSDAY… Don’t miss out! + MORE May 30th

The incredible variable rate wars we’re seeing this month are about to come to a close! It would be a shame to miss out on these savings! And, while there is a possibility that they’ll extend into June, I wouldn’t risk it – deep savings like these don’t come around eve.... More »
 mortgage buyout

Not just new buyers: Mortgage stress test rules putting the squeeze on renewals, too + MORE May 15th

It's not just new homeowners who are feeling the impact of higher interest rates and tougher lending standards: even those who've already bought are feeling the heat..... 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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