Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
The Run Down on Reverse Mortgages: What Are They and Why Do Homeowners Get Them? + MORE Jun 23rd
Although it may seem like a complicated or paradoxical concept, the features that make up a reverse mortgage are rather simple. A reverse mortgage is a home equity product that allows homeowners aged 55 years and older to access up to 55 per cent of the value in their home.
Homeowners can choose to.... More »
Should you use home equity to buy a house for your kids? + MORE Oct 5th
Ask MoneySense
My husband and I are considering purchasing a second home using the equity in our first home. We own the home—no mortgage. Estimated value is $1.2 million to $1.5 million.
We are hoping to support our children in moving out, while long-term planning for our downsizing when the ti.... More »
How a Mortgage Pre-Approval Can Protect You from Rising Rates Nov 1st
In times of steady or declining rates, you barely pay attention to your pre-approval rate. But these days, this rate hold can be a total game-changer..... More »
Can I cancel my mortgage life insurance? It’s too costly + MORE Jan 26th
Q: My daughter and her husband did not earn enough, so my wife and I decided that we would help them by putting her name on the mortgage for the purchase of a new-build condo in Hamilton, Ontario. We opted to go with RBC and the mortgage was approved at a rate of 2.65%. In order to get the mortgage.... More »
Residential Mortgage Credit Risk Has Risen “Only Modestly,” Says OSFI Nov 25th
The head of the agency charged with overseeing Canada's federally regulated lenders said today that residential mortgage credit risk has risen "only modestly.".... More »
Tango Financial Becomes Latest Mega-Brokerage
– canadianmortgagetrends.com
The trend of consolidation in Canada’s mortgage industry continues. Tango Financial is the latest mega-brokerage. The company is an amalgamation of Paragon Mortgage Inc., Premiere Mortgage Centre and Compass Mortgage Group, which announced a merger agreement last week. The three firms will remain autonomous under the umbrella of Tango, with Don MacVicar of Premiere Mortgage […]
What to expect from rising interest rates
– thestar.com
Is now the time to lock in your mortgage? Here’s what to look for when it comes to debt and saving.
