Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Five-year prison terms handed to Fortress founders in mortgage fraud case Feb 22nd
The decision marks a significant enforcement outcome in a case that helped reshape scrutiny of Ontario’s syndicated mortgage market..... More »
Home Trust Launches 90% LTV Bundle + MORE Apr 1st
Home Trust has taken bundle mortgages to the next level. Bundle mortgages consist of an uninsured first mortgage to 80% loan-to-value (LTV) plus a second mortgage for additional funds. They....... More »
Latest in Mortgage News: Homeownership Becoming a “Pipe Dream” for Millennials Dec 9th
A growing number of millennials are resigning themselves to the fact that homeownership may be out of reach for them, according to a new poll. Nearly three quarters (72%) of millennials say they have a goal of owning a home, but nearly half (46%) admit that goal is a “pipe dream,” accord.... More »
Weekly mortgage digest: Canadians are pulling back on borrowing Sep 16th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Surprise, Surprise: No Rate Hike From Bank of Canada Dec 11th
For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret eve.... More »
The five-year fixed mortgage at an advertised rate below three per cent has returned to Canada for the first time since last year.
Painting a Picture of Penalties
– canadianmortgagetrends.com
A 1/10th percentage point rate discount on the average Canadian mortgage saves roughly $800 in interest over five years. An unfavourable mortgage penalty (interest rate differential charge) on a fixed…
Bust Those Winter Money Blues
– ratesupermarket.ca
Forget robins: the real signs of pending spring – sliding mortgage rates, holiday debt repayment and the onslaught of tax season – have arrived! And while there’s still a few weeks of minus double digits to go, it’s time to set our sights – and finances – on a sunnier path.
3 Foolproof Ways To Bust Your Money Stress
Are debt worries keeping you up at night? Do you find yourself turning to credit – even for small, everyday expenses? Escaping a debt spiral can be daunting, especially the high interest credit card variety. Read on for our top tips for breaking the cycle, and taking control of your credit, once and for all.
Read Melissa’s Blog | 3 Foolproof Ways To Bust Your Money Stress
Fall In Love With A Record Low Mortgage Rate
Will mortgage rates tumble lower in advance of the seasonally hot spring market? We’ve seen five-year fixed rates go as low as 2.98% on our Best Rates table – and our expert Mortgage Rate Outlook Panel says it’s possible that more discounting could be in store…
Home expected to fund retirement for one-quarter of Canadians
– moneysense.ca
Nearly one-quarter of Canadians plan to tap their home as a primary source of income after they leave the workforce, according to the 2014 Sun Life Canadian Unretirement Index. The survey also found that more than half (56%) plan to work past the traditional retirement age of 65, most out of necessity.Still, the average expected retirement age fell to 66, the lowest level in the last four years of the survey’s existence (down from a high of age 69 in 2011).
“With people living longer and more Canadians expecting to retire sooner, it’s important to look at what savings you will need to be fully prepared and how having a financial plan can help protect against risks that can be magnified in retirement such as market shocks and health events,” Kevin Dougherty, president of Sun Life Financial Canada said in a press release.
Canadians on average expect approximately 10% of their retirement income to come from home equity, with another 30% to come from government plans, 27% from personal savings, 23% from employer pension plans, 5% from an inheritance and 6% from other sources…
CMHC Forecasts Fewer First Time Buyers
– ratesupermarket.ca
For many young Canadians, the new coming-of-age benchmark isn’t graduating from college, turning 25, or even getting married… it’s entering the property market. But the number of first time buyers is projected to be lower this year than in recent memory. What’s endangering the first time buyer segment?
Pssst: Are YOU planning to become a first time home buyer? Check out our First Time Home Buyer’s Guide, a 14-day email bootcamp that’ll lead you from house hunting and financing to renewing your rate.
Few Multi Units Up For Grabs
The Canada Mortgage and Housing Corporation’s (CMHC) Housing Market Outlook for the first quarter of 2014 projects that housing starts (i.e. the number of new units constructed) for detached single-family homes will be remain stable through 2014 and 2015. But starts for “multiple housing units” (townhouses, row houses, apartments and condos) should start to decline in 2015. The lower price point for non-detached properties, of course, makes them a popular choice for first-time buyers…
