Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Latest in Mortgage News: BoC Sees Early Signs of Housing Overheating, but Will Keep Rates Low for Now Feb 27th
Fixed rates may be heading higher, but variable-rate holders can rest assured their rates won’t be going up just yet, at least according to Bank of Canada Governor Tiff Macklem. During a speech on Canada’s labour market, Macklem said monetary policy will need to continue to provide stimu.... More »
Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums + MORE Mar 22nd
Note: Mortgage insurance premium increases go into effect on March 17th, 2017.
If you’re applying for a mortgage with a small down payment, be prepared to pay a little more every month for default insurance.
The Canadian Mortgage and Housing Corporation recently announced it will increase the pre.... More »
TD Bank sees mortgage volumes rise 7% in Q2, gains market share May 27th
Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter..... More »
How much income do you need to buy a home in Canada? A look at housing affordability in November 2025 + MORE Dec 24th
For a while there, it appeared Canada’s housing market was seeing shoots of improvement – but buyers retreated back to the sidelines in November, further dousing price growth and leading to overall improved affordability conditions. As reported by the Canadian Real Estate Association, home sales.... More »
Mortgage renewal calculator + MORE Jan 25th
Thee are a lot of decisions to make when it comes to renewing your mortgage, including whether or not to stick with your current lender. A mortgage renewal calculator can simplify the process and help you pick the best mortgage offer available to you at the time of renewal.
You.... More »
Retirement planning in a second marriage
– moneysense.ca
Q: My fiancé and I are both in our mid-50s and own a new home in Vancouver with no mortgage. We are planning for retirement. I have a defined government pension plan currently at $100,000 and an RRSP with a $150,000 market value.
My fiancé does not have a pension plan, but has $450,000 in an RRSP.
We both owned a home separately before and the net proceeds from the sale of both homes is $750,000.
Should I retire now or wait until I qualify for full pension in 2021 when my fiancé retires?
What is your investment strategy recommendation for the $750,000?
—Tina
A: It sounds like you and your fiancé are in a good position as a potential early retirement approaches, Tina. A red-hot Vancouver housing market has no doubt helped.
One thing I will question is the value of your government pension plan. Is it a $100,000 per year pension? That seems like a high pension for someone in their mid-50s to have earned, especially given that you have a decent RRSP next-egg so likely weren’t in the pension your whole career…
Q3 2016 Bank Earnings – Mortgage Morsels
– canadianmortgagetrends.com
Another bank earnings season has just wrapped up, giving us insight into how Canada’s Big 6 banks are monitoring and reacting to housing market risks, most notably runaway prices in Toronto and Vancouver. Here’s some of what we learned from Big Banks’ third-quarter reports: While credit card and personal lending delinquencies are rising, particularly in oil-producing provinces, loss rates on uninsured mortgage and HELOCs remain low and stable overall. During the conference calls, a number of analysts openly pondered whether moderating growth in the banks’ mortgage portfolios may actually be prudent, given current market conditions. There are clear signs of an industry-wide move towards READ MORE
