Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Retired? No mortgage for you: How the stress test is making it tougher to borrow later in life Nov 6th
Many people are shocked to discover that the amount they can borrow decreases drastically when they retire because the stress test looks at your income..... More »
Can I afford to buy a second home? + MORE Sep 26th
There are plenty of reasons you may want to buy a second home. Maybe you’d like a second property for a family member to live in (e.g., your daughter while she attends university) or a condo to stay in during the week when you’re working downtown. But can you afford it?
“Before you buy.... More »
Renting out your home can bring cash—and complications + MORE May 21st
If you search “Airbnb how to get started” you’ll reach their splash page with a big number. As of May in Toronto, Airbnb says you can make more than $4,000 per month during the FIFA World Cup. It’s a powerful lure for someone who needs help with their rent or mortgage, and has a spare room t.... More »
Canadians' Debt Getting Riskier, BoC Warns -- But We're Getting Better At Paying It Off + MORE Jun 8th
The Bank of Canada is yet again raising the alarm about Canadians’ debt levels, but new data from credit ratings agency TransUnion shows Canadians, overall, are getting better at paying off their debts.
The average Canadian now carries $21,696 in non-mortgage debt, a two-per-cent increase from t.... More »
Is Canada’s mortgage stress test still relevant? Aug 24th
Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada's stress test are overdue.
.... More »
Jim Murphy to Depart CAAMP
– canadianmortgagetrends.com
He’s been CEO of Canada’s largest mortgage association for eight years, and at the end of this month he’ll be leaving. Canadian Association of Accredited Mortgage Professionals (CAAMP‘s) Jim Murphy is departing on July 31 to head up the Insurance Brokers Association of Ontario. “On behalf of the CAAMP Board of Directors and our membership I’d like to thank Jim for his 10 years of service and sincerely wish him all the best in his future endeavours,” said Dan Putnam, CAAMP Chair, one of eight Murphy worked under during his tenure. The vacancy leaves CAAMP with some big shoes to READ MORE
Champion Mortgage Inc.
– canadianmortgagetrends.com
Company: Champion Mortgage Inc. Position: Mortgage Underwriter/Application Specialist Location: Guelph, Ontario Mortgage Underwriter/Application Specialist Do you like problem solving and working with numbers? Do you enjoy working in a fast paced, team driven environment? Are you strong at multi-tasking? Do you enjoy a challenge? Would you like to help people make their dreams come true? Would you like to work for a National award winning and growing company? Do you value work / life balance? If you answered YES to any of these questions, you should seriously consider a career with Champion Mortgage! Job Description: The 2015 Canadian Mortgage READ MORE
Should You Believe Recession Rumours?
– ratesupermarket.ca
Finance headlines have been less than fabulous this week, as growing evidence of a Canadian recession throws the economy into flux. From local home buyers to global investors, all eyes are on the Bank of Canada’s next move. Will national interest rates be slashed for the second time this year? Could you cope if you had less purchasing and earning power?
Read on for the full story.
Will a Canadian Recession Lead to More Rate Cuts?
The Q2 numbers are in, and they’re not looking good. As oil’s drop takes its toll, all signs are pointing to a looming Canadian recession – meaning the Bank of Canada will have to take action soon to keep our economy afloat.
Read on to learn more about the factors behind a recession, and how it could affect your mortgage.
Read Penelope’s Blog | Will a Canadian Recession Lead to More Rate Cuts?
Should You Worry About the China Stock Selloff?
Greece may have hogged the finance media spotlight, but a bigger economic storm is brewing in China, as stock markets have recently dropped 25 per cent…
