Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How much is home insurance? Sep 17th
Home insurance is, as you may know, property insurance that protects the homeowner’s private residence, including the outside space, like your shed and deck, too. By paying a monthly or annual premium, you are assured that damage or loss to your home—typically a person’s most important and exp.... More »
Mortgage Lenders Provide COVID-19 Update – Part 2 + MORE Apr 16th
In a recent series of panel discussions put on by Mortgage Professionals Canada, a cross-section of some of the country’s top lenders and insurers provided updates on how the COVID-19 pandemic has impacted operations and shaped their outlook. Similar to the previous sessions, the overwhelming mess.... More »
CMHC reports annual pace of housing starts in April up from March May 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts for April rose 17% compared with March..... More »
Why borrowers are smarter than they look + MORE Jan 1st
Canadians are constantly criticized taking on too much debt in today’s low interest rate environment. But a new study shows that mortgage holders are paying off their homes faster and faster, thanks to extra payments that are applied to the principal owing rather than the interest. The result is t.... More »
First National sees Q2 drop in single-family originations, but mortgage portfolio expands + MORE Aug 14th
Despite a drop in single-family mortgage originations, First National’s commercial lending and overall mortgage portfolio showed robust growth in Q2..... More »
When this guy can’t qualify for a mortgage, you know the mortgage rules are too tight!
– canadamortgagenews.ca
FORMER US FED CHAIRMAN CAN’T GET A MORTGAGE. Anyone remember this guy? Ben Bernanke. He’s just the former Chairman of the US Federal Reserve Bank. He served two terms from 2006 to 2014. Earlier this month, he revealed that he was declined for a mortgage refinance. Now, just to put this in perspective, […]
Bi-weekly payment myth…. it won’t pay your mortgage off faster.
– canadamortgagenews.ca
Bi-weekly payments won’t pay your mortgage off faster. Yup, it’s true. Around 4 yrs ago, I wrote an article showing some simple but effective math to explain this. Recently, I’ve had several readers and clients ask me about bi-weekly payments. I thought I’d repost that article as it seemed to get a lot of attention […]
The Bottom is Zero
– canadianmortgagetrends.com
If someone ever tells you that bond yields won’t go lower, ask if they’re at zero yet. If not, yields can go lower. Take our good friends in Germany, for example. Their 5-year government yield recently tumbled to an unthinkably low 8 basis points (0.08%). By contrast, Canada’s 5-year yield—which guides our fixed mortgage rates—is […]
Most People Need Mortgage Help
– canadianmortgagetrends.com
Despite the abundance of Internet mortgage resources, more than 6 in 10 Canadians say they still need help when shopping for a mortgage, according to a RateSupermarket.ca poll. Most folks also value meeting their mortgage advisor in person. The survey found that only 27% didn’t think a face-to-face talk with a mortgage professional was important. […]
The Right Pro Is As Important As Price: RateSupermarket.ca
– ratesupermarket.ca
Survey finds rate shoppers highly value personalized mortgage broker support
Toronto, Ontario: October 28, 2014 – Canadian home buyers are becoming increasingly independent when looking for their mortgages – but a recent RateSupermarket.ca survey finds mortgage brokers remain a highly valued part of the process, even among online comparison shoppers.
While 58 per cent of respondents said they would turn to online resources to find their mortgage, the majority aren’t willing to forgo face-to-face service – 73 per cent also stated it is important to work with a mortgage broker during the rate shopping process.
The survey also found the misconception persists that shoppers must sacrifice professional guidance for online transparency, with 59 per cent saying the main reason they avoid online mortgage shopping is the need to connect with a pro.
“Finding the perfect mortgage is a team effort,” says RateSupermarket.ca Editor Penelope Graham. “While consumers are increasingly willing to explore their options beyond their home bank, it’s clear that brokers play a vital role in turning that research into real value…
