Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
First National saw revenue rise 29% in 2023 despite drop in residential mortgage volumes + MORE Mar 10th
First National wrapped up a "successful" 2023 in spite challenging economic conditions and a drop in residential mortgage originations..... More »
Over half of mortgage borrowers concerned about renewals Nov 1st
A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time..... More »
Technology’s Role in Canada’s Evolving Mortgage Industry May 29th
COVID-19 has dramatically changed the course of many industries and threatened the physical, mental and financial wellness of millions of Canadians. In the housing sector, real estate sales volumes have dropped significantly and rapid increases in unemployment have added uncertainty to many transact.... More »
Is the family responsible to pay the mortgage for a loved one who has passed away? + MORE Aug 18th
When someone dies and owes money on a mortgage, is their common-law spouse responsible for paying it off? The house was in the name of the deceased only—the common-law spouse wasn’t a co-signer on the mortgage, and her name is not listed on the deed. —Louine
You’re 2 minut.... More »
Mortgage affordability calculator + MORE Nov 19th
powered by
Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a many factors—more on those later. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, you should start.... More »
The best way to fund your retirement
– moneysense.ca
Q: I am 66 and retired with no defined benefit pension – just CPP and OAS. I do have RRSPs, both in savings and in mutual funds. I own my own home and it’s mortgage-free. I have some TD shares and Bell shares which are not within the RRSP portfolio.My question is…in the future when I need funds, is it better to cash in some shares or to cash in from the RRSP?
I want to be sure that what I do is the most efficient for tax purposes (for example my roof needs re-shingling next year, costing approximately $10,000).
—Julie
A: Without knowing all the facts, Julie, it’s hard to give you a perfect “how-to” in your case, but I can give you a number of different considerations.
If you have a spouse, depending on their sources of income, my answers might change. But I’ll assume you’re single since you didn’t mention a partner.
Depending on the amount of your CPP and OAS pensions, you may be entitled to additional government benefits like Guaranteed Income Supplement (GIS), the GST/HST credit and based on your province of residence, various provincial tax credit and incentive programs…
Lender Access is Sacred
– canadianmortgagetrends.com
One of the most touted value propositions we express as mortgage brokers is choice. Brokers can compare dozens of lenders whereby lender reps push only one brand: their own. Having a wide array of lenders allows broker clients to enjoy more customized financing solutions. That’s important because one lender doesn’t fit all. A given bank, monoline or credit union may have punitive penalties, restrictive porting policies, poor blend and increase options and so on. Customers need choice, and our industry depends on it. That’s why I’ve always found stats like this—from FSCO, Ontario’s broker regulator—to be surprising: Roughly one in five brokerages finance more than 50% of their mortgages READ MORE
