Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Mortgage debt taking up a record share of income Mar 17th
Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household dispos.... More »
‘Business for self’ clients are on the rise. How do you secure a mortgage for one? + MORE Feb 24th
Roughly 2.9 million Canadians were self-employed in 2018, according to Statistics Canada, and many of them are keen to buy a home..... More »
How retired parents can use the FHSA to help their adult children + MORE Mar 26th
If you’re a retiree or close to retiring, you probably have a paid-off principal residence, or should be close to having one.
However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still diffi.... More »
Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th
I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying ju.... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
The number of reverse mortgages has surged recently. Experts caution it’s worth exploring all other options first, like lines of credit and downsizing.
