Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News

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

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? –Li.... More »

Housing affordability challenges leading to increased risk of fraud + MORE Mar 29th

With higher prices and interest rates putting the dream of homeownership further out of reach studies suggest Canadians are more comfortable inflating certain details of their mortgage application — a form of fraud that could have serious legal ramifications..... More »

Rise in bond yields could send fixed mortgage rates higher, experts say Jan 21st

A sudden rise in bond yields this week could cause some lenders to reverse recent fixed mortgage rate cuts, experts say..... More »

Most mortgage borrowers to see payments rise 34% to 54% vs. early 2022: Bank of Canada + MORE Dec 22nd

If you had a mortgage as of February 2022, chances are you will be facing a payment increase before the end of 2025..... More »

Housing starts stable in 2023, but demand still outpaces growing supply of apartments + MORE Mar 28th

The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments—despite demand still outpacing supply for rental housing. The agency released its biannual housing su.... More »
Some Things Never Change: What We Can Learn From the PastI started 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 just wasn’t adding up. 

The world has changed a lot since 2009. But right now we’re facing a lot of the same challenges we were facing then. A turbulent housing market. Tough economic circumstances. And gross amounts of misinformation – perhaps more than ever. 

I may not have a smooth writing style or flashy branding like some of those guys who popped up in 2009, but I have always spoken from the heart. Right now is no exception. Here’s what I think you should know.

Market Corrections Are Inevitable

A lot of people like to talk about the rich getting richer and the poor getting poorer. Crazy inflation tends to spark those debates – but unfortunately, those debates don’t get us anywhere when it comes to discussing our personal finances…

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Canada’s largest bank saw a 40% decline in mortgage originations in the first quarter, it revealed in its first-quarter earnings call.

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Mortgage amortization periods continue to grow at BMO due to rising interest rates, but the bank said about a fifth of its variable-rate clients have preemptively increased payments.

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Ask MoneySense
I carry a lot of credit card debt and haven’t made a dent in my mortgage. I’m in my 60s, and I’m starting to think about next steps for my family. After I die, will my family inherit my debt?—Terry

Thanks for your question, Terry. You’re definitely not alone in worrying about how your loved ones will be affected if you die with outstanding loans or while carrying a balance on your credit card.

We’ll walk through exactly what happens to your debts when you die, including credit card debt, mortgages and co-borrowed debt. Then we’ll explore ways to mitigate the burden these debts might have on you and your family.

Who’s responsible for debt after death?

Is debt passed on to family members like real estate or heirlooms? The answer depends on a few factors, like the amount of debt you have, who’s listed on the accounts, and your insurance coverage.

After death, debts generally fall to the estate. If you have a will, your executor will create an inventory of your assets (cash, investments, real estate, etc…

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