Home / Mortgages / Should retirees pay off their mortgages with investments? + MORE Nov 28th

Should retirees pay off their mortgages with investments? + MORE Nov 28th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News

Big banks slash mortgage rates this week to reflect lower bond yields in Canada + MORE Jan 12th

Nearly all of the country's big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%)..... More »

First National sees Q2 drop in single-family originations, but mortgage portfolio expands + MORE Aug 14th

Despite a drop in single-family mortgage originations, First National’s commercial lending and overall mortgage portfolio showed robust growth in Q2..... More »

Mortgage rates under 5%? They’re coming back as lenders slash fixed rates + MORE Dec 7th

For the first time since last spring, mortgage shoppers finally have a condition-free sub-5% fixed mortgage rate option..... More »
mortgage

Managing debt to build wealth + MORE Aug 23rd

It’s an eyebrow-raising trend: non-mortgage delinquencies have reached levels not seen since 2009, according to a report by Equifax, one of the three largest consumer credit reporting agencies. Specifically, 1.4 million people in Canada have recently missed a credit payment.  But it’s no.... More »

Should you get a 30-year mortgage?  + MORE Jul 8th

Signing a 30-year mortgage in Canada can be an attractive option for some home buyers in the face of relentless real estate prices and historically high interest rates. Specifically first-time home buyers and those now renewing their mortgages. While prices in Toronto have fallen slightly, with .... More »
A key factor in determining whether an individual is likely to become a homeowner is whether or not their parents were property owners, a new study shows.

Continue Reading On canadianmortgagetrends.com »

Ask MoneySense
I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are low possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank who holds my mortgage. What do you think?

–Liz

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.

Is it a good idea to pay off a mortgage with RRSPs

Ideally, retirees should strive to have their debts paid off by retirement. Practically, I can appreciate that doesn’t always happen due to a variety of factors. But, there may be ways to use other assets to pay off debt at retirement to consider.

For some retirees, that may include a home downsize, which may or may not be a necessary or even a practical component of a retirement plan.

In your case, Liz, it sounds like you have investments with which you can pay off your mortgage…

Continue Reading On moneysense.ca »

Banks.ca constantly finds the best and most current mortgage information available in Canada.

Share

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