Stress Test Impacts Measured + MORE Jul 26th

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

New Mortgage Rules Improving Credit Quality, BoC Says + MORE Nov 18th

Mortgage rules implemented over the past two years, along with rising interest rates, have worked to improve credit quality and reduce the number of highly indebted borrowers in the market. That’s according to a Bank of Canada research paper released this week and co-authored by bank staffers Olga.... More »

Benefits of Homeownership Reaffirmed in New Study Sep 18th

Despite deteriorating housing affordability across the country, buying a home is still the more affordable option when compared to renting. A new report from Mortgage Professionals Canada has determined that, despite the rapid rise in home price, those who are able to invest in a home would end up .... More »

Lender Insights from the 2018 National Mortgage Conference Nov 3rd

Mortgage professionals from across Canada descended on Montreal last weekend for the annual National Mortgage Conference. Hosted by Mortgage Professionals Canada, the annual gathering was once again well attended, with about 1,200 participants and 60+ exhibitors at the Exhibitor Expo. The two-day ev.... More »

The Latest in Mortgage News – Is the Housing Market Turning a Corner? Aug 10th

While Vancouver area home sales are still posting year-over-year declines, signs are appearing in the Greater Toronto Area that the worst of the housing correction is now over. Experts say that likely won’t be enough to stave off a slowdown in national GDP growth, however, which in part will b.... More »
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Self-Employed but Need a Loan? 7 Things You Need to Know + MORE Aug 25th

Being self-employed has its pros and cons: you may have a more flexible schedule, but you also have a lot more responsibility, especially when it comes to managing your own finances. According to Statistics Canada, 2.8 million people were self-employed in 2017. And with the swelling ranks of the se.... More »
Live Your Life: You’ll never see a U-Haul following a hearse!Our lifecycle goes something like this… Go to school. Find a job (and work hard for 40 years). Fall in love. Get married. Save money. Buy a house. Start a family. Retire on enough pension or savings. Enjoy the results of your hard work. Live in your house until death. Leave the house for your kids.
This is how most of us envision a normal lifecycle. But how often does this really happen? How many people really live happily ever after? What’s the big deal about tapping into home equity to fully enjoy life?
Statistics tell us that the average annual income for a senior in Canada is $33,500. In the meantime, the average cost of owning a home plus living expenses is $55,000.
That’s where things become unclear. This is where our plans seem to change. We’re holding strong to the idea that we need to work hard all our lives, pay off our mortgage, then scrimp and cut back on our enjoyment in retirement. Why not tap into/spend the equity in our homes or savings to enjoy our lives after working so hard?
We hang on to the notion that we must pass along our net worth to our children… that we should leave them with enough money so they never have to struggle or so their lives are easier or better than ours…

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Stress Test Impacts Measured

– canadianmortgagetrends.com

The government’s latest mortgage rule changes have caused an imbalance between supply and demand in almost every region of the country, and will result in an estimated 200,000 fewer jobs being created over the next three years. Those are among the findings of Mortgage Professionals Canada’s newly released Report on the Housing and Mortgage Market […]

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