Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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How to Read Your Credit Report + MORE Jun 1st
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
How much you need to earn to afford a home in Toronto and the GTA + MORE Mar 22nd
Looking at the Toronto housing market through a lens of percentages, shifting sales numbers and interest rates may be the go-to method for industry insiders, but for many run-of-the-mill buyers, there’s really one thing that matters: “What kind of home can I afford?”
To help answer that que.... More »
Should you borrow to pay expenses on an investment property? Nov 18th
Q. I have an investment property that I rent out. Now that I’m retired, I would like to use the income to supplement my retirement income. That would leave me with no money to pay the expenses on the property (mortgage payment, maintenance, utilities, etc.).
I’m wondering two things: One, can I .... More »
What it’s like to be a first-time home buyer in Ontario—for real + MORE Apr 25th
We’d been looking for over two years when we finally closed on our home last year in Vaughan, Ontario, just north of Toronto. As first-time home buyers in Ontario, my husband and I had seen around 30 houses, had been outbid on five or six and had expanded our search area from the middle of Toronto.... More »
The best five-year fixed mortgage rates in Canada 2022 + MORE Dec 10th
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Canada’s best credit cards for groceries
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Online shopping …. Stocks, Vacations and Mortgages. What’s the difference?
– canadamortgagenews.ca
Is choosing a mortgage as easy as booking a trip or trading a stock? Let’s find out!
Sure, you can book a flight online or buy a stock through the web. But, can you really choose the right mortgage product on your own? Can you really find the absolutely lowest cost mortgage financing option? I’ll bet some consumers can. I’ll also bet the vast majority cannot. There’s a steady stream of horror stories, on this news site and others, that show just how costly and financially dangerous it is to be in the wrong mortgage product, with the wrong lender.
I’ve shared dozens of those experiences on this site. Consumers who were directed into the wrong mortgage by their Banker or by some web site claiming to offer ‘the lowest rate’. I empathize with these consumers as I believe they were just trying to save some money but instead ended up paying far more than they had to.
We can find it all online, but can you do it all yourself?
The big trend over the past 15 years is to move all business online…
Sure, you can book a flight online or buy a stock through the web. But, can you really choose the right mortgage product on your own? Can you really find the absolutely lowest cost mortgage financing option? I’ll bet some consumers can. I’ll also bet the vast majority cannot. There’s a steady stream of horror stories, on this news site and others, that show just how costly and financially dangerous it is to be in the wrong mortgage product, with the wrong lender.
I’ve shared dozens of those experiences on this site. Consumers who were directed into the wrong mortgage by their Banker or by some web site claiming to offer ‘the lowest rate’. I empathize with these consumers as I believe they were just trying to save some money but instead ended up paying far more than they had to.
We can find it all online, but can you do it all yourself?
The big trend over the past 15 years is to move all business online…
Mortgage Growth Slows in First Half of 2019
– canadianmortgagetrends.com
Residential mortgage growth was down more than 7% in the first half of 2019 compared to a year earlier, likely caused in part by the federal government’s mortgage stress test, according to new data from the Canada Mortgage and Housing Corporation (CMHC). The quarterly Residential Mortgage Industry Dashboard shows new originations by the country’s chartered […]
Renewal Rate Shock Diminishing, Says BoC
– canadianmortgagetrends.com
Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. “The average household renewing […]
