Learn more about Canadian mortgage rates, rules and the latest news – read on!
How retired parents can use the FHSA to help their adult children + MORE Mar 26th
If you’re a retiree or close to retiring, you probably have a paid-off principal residence, or should be close to having one. However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still diffi.... More »
Mortgage debt taking up a record share of income Mar 17th
Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household dispos.... More »
Why mortgage brokers should know prepayment penalty calculations inside and out Mar 20th
All mortgage brokers should have a comfortable working knowledge of how prepayment penalties are calculated and applied. .... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
The latest in mortgage news: uninsured posted rates at decade-highs
Uninsured posted rates from Canada’s Big 6 banks have skyrocketed over the past year, according to data from the Bank of Canada.
First National seeing no signs of stress among mortgages renewing at higher rates
Canada’s largest non-bank lender says it hasn’t seen any signs of stress among its adjustable-rate nor fixed-rate borrowers who are renewing at higher rates.