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Latest News
Before you buy, here’s how to compare home insurance + MORE Aug 6th
Home insurance is important, but no one loves paying for it. That’s why people like to open their browsers and search for “cheap home insurance” and “how to save on home insurance.”
Any insurance professional will tell you that there’s no easy answer for cheap and full coverage,.... More »
Non-mortgage debt and delinquencies on the rise: Equifax Apr 10th
High interest rates have applied the brakes to Canada's housing market, with mortgage originations down nearly 40% compared to a year earlier..... More »
The latest in mortgage news: National Bank among first to offer First Home Savings Account Apr 19th
National Bank has become one of the first of the big banks to make the new First Home Savings Account (FHSA) available to its clients..... More »
How to take advantage of the first home savings account + MORE May 10th
In April, in response to Canada’s white-hot housing market, the federal government introduced the tax-free first home savings account (FHSA). The FHSA is a new kind of registered account aimed at easing the path of first-time home buyers to securing a mortgage at a time when average Canadian home .... More »
The Hardest Part About Burning Your Mortgage + MORE Mar 16th
Similar to a sweet dream, paying off a mortgage loan valued at hundreds of thousands of dollars is a goal that sometimes seems so out of reach.
But it is possible.
A little over a year ago, I paid off a 30-year mortgage on a home I had bought only three years earlier. I now live mortgage-free in To.... More »
Surviving the Sprint to the Bottom
– canadianmortgagetrends.com
Lots of brokers out there criticize rate buydowns. They argue that buydowns cause a “race to the bottom” in mortgage pricing. If that’s how you feel as a mortgage broker, take solace. The race isn’t far from the finish line. Online mortgage rates have already plunged to levels where some brokers now earn just 35 basis points in compensation (or less), even on five-year fixed terms. That’s one-third of what most brokers make. At these revenue levels, only a minority of exceedingly efficient large-scale brokers will succeed long term in the deep discount market. As more independent mega-brokers sign on READ MORE
