Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
The real costs of buying a car Mar 31st
The thrill of driving a new car off a dealer’s lot is appealing, but experts warn not to let the new car smell go to your head when it comes to borrowing money to make it happen.
Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know.... More »
Vancity Divorces Brokers + MORE Jul 20th
The nation’s biggest credit union, Vancity, is pulling out of the mortgage broker channel. The Vancouver-based company sent an email to notify brokers this morning. It has been in the mortgage broker channel since 1991, when it acquired Citizens Trust Company. The channel was administered through .... More »
Rates are at all time lows Sep 20th
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 »
Rising expenses driving Canadians to offload U.S. real estate + MORE Sep 19th
While politics play a role, brokers say rising costs, currency pressures and mortgage realities are the real forces driving Canadians to sell U.S. property — with many looking to reinvest at home..... More »
Reaction to CMHC’s New Restrictions on Insured Mortgages Jun 7th
Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mor.... More »
Equity Financial Trust
– canadianmortgagetrends.com
Company: Equity Financial Trust Position: Business Development Manager (2) Location: Greater Toronto Area and Eastern Ontario Business Development Manager Years of Experience: 5 Years City: Head office based in Toronto, ON. Recruiting for the following areas: Eastern Ontario (Ottawa, Kingston & surrounding areas) Greater Toronto Area Contact: careers@equityfinancialtrust.com Job Description: Company Overview: Equity Financial is a publicly traded Canadian financial services company serving the alternative retail mortgage market through its OSFI‐regulated wholly‐owned subsidiary Equity Financial Trust Company. At Equity, we strongly believe our success is based on one singular factor – our people. Overview of Position: READ MORE
10 signs you’re ready to retire
– moneysense.ca
Not sure whether you’re ready to retire? If you can check off at least half of the things on the below list, chances are you’re ready. Just keep in mind it’s always a good idea to run your retirement plan by a financial advisor, who can stress-test your portfolio under various scenarios.
1. You own a paid-for home
Everybody needs a place to live but when you’re mortgage-free you can use money previously earmarked for home payments in a variety of ways: for instance, to fund your travel lust, or to invest in dividend-paying stocks that will generate money for years to come. Plus, a debt-free home offers a financial safety net. You can always rent out a portion of your home if money becomes tight, downsize altogether and live off the proceeds, or take a reverse mortgage (although these come with hefty fees and restrictive rules).
2. You have a workplace pension plan
Roughly 32% of Canadians have a workplace pension plan, of which a smaller percentage have a defined benefit pension plan (versus defined contribution) which guarantees certain payouts in retirement…
1. You own a paid-for home
Everybody needs a place to live but when you’re mortgage-free you can use money previously earmarked for home payments in a variety of ways: for instance, to fund your travel lust, or to invest in dividend-paying stocks that will generate money for years to come. Plus, a debt-free home offers a financial safety net. You can always rent out a portion of your home if money becomes tight, downsize altogether and live off the proceeds, or take a reverse mortgage (although these come with hefty fees and restrictive rules).
2. You have a workplace pension plan
Roughly 32% of Canadians have a workplace pension plan, of which a smaller percentage have a defined benefit pension plan (versus defined contribution) which guarantees certain payouts in retirement…
Rate Reflections
– canadianmortgagetrends.com
Some odds and ends from the week’s mortgage rate action… The Misleading Core… One can be forgiven for wondering why the BoC cut the overnight rate ¼ point on Wednesday when its official “core” inflation measure is above target. As it turns out, core inflation (which has stubbornly risen to 2.3%) doesn’t tell the whole story. Governor Stephen Poloz believes the “underlying trend” is actually much lower at 1.50% to 1.70%. “The Bank of Canada tries to strip out transitory factors in determining the underlying trend,” explains DLC Chief Economist Dr. Sherry Cooper. The biggest transitory factor at the moment is the READ MORE
Mixed Mortgage Messages?
– ratesupermarket.ca
As talk of an impending recession grows, and the Bank of Canada moves again on interest rates, many buyers are left wondering – what implications does this have for their own mortgages? Is it a great time to borrow, or should we heed warnings of too-high household debt levels? How sustainable are today’s historic rate discounts? And what can we do as borrowers to protect our finances?
We’ve got a full lineup, from the Bank of Canada’s rate cut, to housing crash cautions from an international watchdog. Read on for the full story.
The Bank of Canada Cuts Rate to 0.5%
The Bank of Canada has cut rates for the second time this year, bringing the cost of borrowing to 0.5%. How will this affect borrowers, homeowners and the economy? Here’s what you need to know.
Read Penelope’s Blog | The Bank of Canada Cuts Rate to 0.5%
Canada Needs $9 Billion to Cover Housing Market Crash: C.D. Howe
How would Canadian homeowners weather a downturn in real estate prices? According to a recent C…
Zilla Mortgage
– canadianmortgagetrends.com
Company: Zilla Mortgage – a division of Zilla GroupCo Position: Mortgage Specialist Location: Home Office – anywhere across Canada Mortgage Specialist Our Commitment: We are proud to be Canada’s Online Mortgage Company. Building on our solid foundation of financial strength and industry experience, we deliver unparalleled solutions for all our customers. Our goal is to be the preferred choice for our residential borrowers from British Columbia to Ontario. Our mortgage specialists are committed to always providing exceptional service and competitive solutions. Our Opportunity for You: We are seeking an experienced and dynamic Mortgage Specialist in Vancouver, Calgary & Toronto area. READ MORE
