Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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It’s Financial Literacy Month Nov 10th
We’re celebrating Financial Literacy Month!
Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more.
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Register Now: https://buff.ly/3lhmUl3
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Housing affordability challenges leading to increased risk of fraud + MORE Mar 29th
With higher prices and interest rates putting the dream of homeownership further out of reach studies suggest Canadians are more comfortable inflating certain details of their mortgage application — a form of fraud that could have serious legal ramifications..... More »
The latest in mortgage news: uninsured posted rates at decade-highs + MORE Mar 11th
Uninsured posted rates from Canada's Big 6 banks have skyrocketed over the past year, according to data from the Bank of Canada..... More »
Downsizing vs reverse mortgage: which option is right for you? + MORE Feb 3rd
For many Canadians approaching retirement, their home is by far their largest asset. With detached homes in major cities selling for well above $1 million, it’s not surprising that owners expect to tap into that equity to help fund their golden years, prompting the common refrain: “My home is my.... More »
Bank of Canada raises key interest rate to 1.25% + MORE Jan 17th
OTTAWA — The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer — and to send a signal that more increases are likely on the horizon.
The central bank pointed to unexpectedly solid economic numbers as.... More »
Industry Keeps Up the Pressure Defence
– canadianmortgagetrends.com
More than three months after the Minister of Finance’s surprise unilateral blow to mortgage competition, the mortgage industry keeps fighting back. “There’s no hope for getting through [to officials] if we can’t keep the pressure on,” DLC President Gary Mauris told CMT. He says his firm is spending “significant” resources to defend the industry’s position that consumers are being harmfully disadvantaged by the new rules. Below are some of the various initiative presently underway to reach policymakers. Parliament Meetings On March 6th and 7th, some of the biggest names in the broker industry will be in Ottawa attending the first ever Parliament Hill READ MORE
The Most Surprising Tip to Burn Your Mortgage Faster
– ratesupermarket.ca
High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free in a short amount of time is possible.
Let me tell you how.
A little over a year ago, I paid off a 30-year mortgage on my Toronto home… in only three years.
In my new book, Burn Your Mortgage, I share the secrets to my success: simple yet effective lifestyle changes that anyone—from new buyers to experienced homeowners — can make to pay down their mortgage sooner. My tips won’t suggest you eat baked beans and Kraft Dinner every night. Rather, they’re seven simple ways to pay off your mortgage sooner, yet suited to work with your income and lifestyle.
For example, in my book, I talk about how accelerating your payments can help you burn your mortgage faster. This tip is often misunderstood but the benefits to doing this will actually surprise you…
