Royal Bank cuts 5-year fixed mortgage rate, others likely to follow suit + MORE Jan 17th

Interested in learning more about property mortgages in Canada? Look no further!
Latest News

Morneau not considering extending mortgage stress test to cover more lenders + MORE Jan 29th

Federal Finance Minister Bill Morneau says he is not considering imposing stress tests on private mortgage lenders..... More »

CMHC reports annual pace of housing starts slowed in February + MORE Mar 9th

The housing agency said Friday the annual pace of housing starts slowed in February as higher mortgage rates and other economic conditions soften demand. Economists had expected an annual pace of 205,000 for the month but instead fell to 173,153 units..... More »

The Latest in Mortgage News: Time to Rethink the Stress Test Apr 21st

The stress test is back in the crosshairs of industry analysts. Earlier this week, CIBC World Markets Deputy Economist Benjamin Tal released a report that attributed an 8% drop in mortgage originations from 2017 to 2018 directly to the federal government’s stress test rules (B-20), which took .... More »
 secure line of credit

National Housing Update: How the Real Estate Industry is Faring One Month into 2019 + MORE Feb 16th

Real estate news is typically quiet in January, but there’s been quite a few developments as of late. To quickly recap, Canadian real estate in 2018 ended with four consecutive months of sales declines. Overall, there was a drop of 11 per cent nationwide, with the 2.5 per cent drop from November .... More »
 home equity

The Latest in Mortgage News + MORE Jan 26th

As we do each month, we’ve rounded up some of the latest real estate and mortgage-related news from the past few weeks: Vancouver’s Housing Market Earns Dubious Honour Vancouver home prices may be falling now, but their record-high levels throughout 2018 have earned Vancouver the distinc.... More »
The Best Credit Cards for Students in 2019
If you’re a student in college or university, you understand that every penny counts. Tuition is high, textbooks are expensive, and it’s hard to maintain healthy eating habits while living off-campus when all you can afford are those packets of Sidekicks pasta for $1.
This is where a good rewards credit card can come in handy. Not only can you earn points, merchandise or cash-back for you purchases, but you’re also given the opportunity to start building your credit. And this is important if you’re a young adult who doesn’t have any credit to your name. If used responsibly, having a credit card will start you off on the right foot so you are eligible for other types of credit in the future, like personal loans or a mortgage. And there’s a great chance you’ll need one of these things eventually.
Rewards cards generally offer different amounts of points or cash-back for particular spending categories (gas, grocery, pharmacy purchases, etc.). Whether it’s rebating you in points, a statement credit, or cash-back in your bank account, a good rewards card maximizes on your everyday purchases and ultimately helps you save, and if you’re a student, you’re likely looking for a card with little-to-no annual fee…

Continue Reading On ratesupermarket.ca »

Remember when I said rates could go down, not up?!
If you’re a regular reader of this site, you’ll know I’ve been very skeptical and critical of the Bank of Canada (BoC) for continuing to increase interest rates. It just hasn’t made sense.
The BoC raised rates FIVE TIMES between July 2017 and October 2018. That’s a 1.25% increase. For anyone with a $300,000 mortgage, your payment increased by $189 per month. Or, to put it another way, for every $100,000 of mortgage, your payment went up by around $63 per month.
Yet, we kept hearing that the BoC wanted to raise rates further. Economists and other experts were saying we should expect more rate increases by the end of 2018! Wow!

Well, I just couldn’t believe it. It didn’t make sense to me. How could anyone believe the average person could absorb a mortgage payment increase to this extent? If the forecasts were correct, we could have seen mortgage payments increase by $300-500 per month… and maybe more if you had a larger mortgage!
No, this didn’t make sense…

Continue Reading On canadamortgagenews.ca »

Canada’s biggest bank has cut its five-year fixed-term mortgage rate, a move other banks are likely to try to match in short order.

Continue Reading On cbc.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!