Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How to find room to save in 2026—even with tight budgets Jan 11th
Saving more in 2026 is a common new year’s resolution, but with budgets tight and inflation driving the cost of groceries and everyday necessities higher, it’s easier said than done. Financial planning experts say it takes a careful review of where you’re spending to find ways to s.... More »
They’re both 25 and make $262,000. This couple wants to pay off their mortgages and spend more on travel. How do they start? Feb 4th
Ace and Ada know they make a lot money for people their age, but it came out of “sweat and tears” and following in the footsteps of immigrant parents. Now they want to know how to spend it..... More »
How To Navigate Today’s Economy Oct 17th
Rumour has it the worst is yet to come. On October 26th, Bank of Canada Governor Tiff Macklem will very likely increase rates by another 0.50%. Not only will this push the bank prime rate up to 5.95% – it could lead to the average 5-year fixed rate mortgage well above 6.00%. What a mess. As I .... More »
Broker Lender Market Share – Q4 2017 + MORE Mar 7th
Banks continued to eat up market share in the fourth quarter, growing their portion of the broker pie by 5.4 percentage points vs. Q4 2016. For the full year, banks seized a whopping 750 basis points of share, mainly from mortgage finance companies. Virtually no broker in Canada will be surprised by.... More »
Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th
The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal..... More »
How to avoid selling your house at a loss
– moneysense.ca
Q: I have been posted to a new location where housing is expensive. I still have a $50,000 mortgage on my home in the old location as well as some smaller payments to other creditors. Here’s the problem. In my new location, either renting a place or buying a property are both very expensive and I don’t have the cash to make a down payment. And I’m still making my mortgage and other payments for my house in the old location. Problem is, my salary is not enough to cover both (mortgage/renting a new property + mortgage on the old).
As well, due to the bad housing market where the home I own is, I haven’t been able to sell it. So I can do one of two things: lower the price and sell the home I own OR reduce my mortgage payments on this house. Is it possible to reduce my mortgage payments and how would I do this? Also, do you think this would be the best option, as I’d like to eventually have my family here in the new location with me. Any advice?
– Brennan T.
A: Hi, Brennan. Yes! I do have some advice…
As well, due to the bad housing market where the home I own is, I haven’t been able to sell it. So I can do one of two things: lower the price and sell the home I own OR reduce my mortgage payments on this house. Is it possible to reduce my mortgage payments and how would I do this? Also, do you think this would be the best option, as I’d like to eventually have my family here in the new location with me. Any advice?
– Brennan T.
A: Hi, Brennan. Yes! I do have some advice…
Refinancing your mortgage? These tips will save you big money
– theglobeandmail.com
Most people get it wrong when it comes to refinancing their mortgage. Here are some tips to get it right
