Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
The majority of Canadians are homeowners, and many more want to buy, but not everyone can afford to do so. If you’re one of those who are looking to get into the market and don’t have enough money saved up yet or you currently have poor credit, there’s always the option to rent to own. Unders.... More »
Rates are at all time lows and are expected to stay that way for a while! This means payments can’t go much lower. Let’s put interest rates and mortgage costs in perspective. Here is what MORTGAGE PAYMENTS on a $400,000 mortgage look like with a 30 year amortization: .... More »
I recently participated in a conference call with Scotiabank’s Chief Economist & SVP, Jean-Francois Perrault and John Webster President & CEO Scotia Mortgage Corporation. It was good to hear real financial experts make sense of what has happened and what will most likely hap.... More »
What’s in a name? Well, in the case of the Canada Housing and Mortgage Corporation, “mortgage” likely won’t be for much longer. The housing agency announced last week that it will be undergoing a rebranding in the coming months to better reflect its mandate. CEO Evan Siddall .... More »
The country’s Big Six banks provided an update on the state of their mortgage deferrals, with each reporting varying results in terms of getting those borrowers back to making regular payments. Both RBC and National Bank of Canada saw their mortgages under deferral drop substantially from Q2 to Q3. RBC said 12% of its loan portfolio remains in deferral (vs. 18% in Q2), while NBC’s deferrals are down to 5% of its loan portfolio (vs. 11.9% in Q2). Others are […]