Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Online-only mortgage services often seem to have better rates — but can you trust them like you can trust a bank? + MORE Mar 29th
Expert says online services such as Homewise, Nesto and Pineapple don’t impact the fundamental way that mortgages are underwritten. It’s just the front end that’s different..... More »
Home Capital shares tumble after OSC launches proceedings against firm, executives + MORE Apr 21st
Home Capital Group Inc. shares touched a one-year low on Thursday, a day after the Ontario Securities Commission launched proceedings against the Toronto-based mortgage lender and some of its current and former executives..... More »
The latest in mortgage news: National Bank among first to offer First Home Savings Account Apr 19th
National Bank has become one of the first of the big banks to make the new First Home Savings Account (FHSA) available to its clients..... More »
MoneySense Toolkit: The mortgage refinance calculator + MORE Jan 16th
Mortgage payment calculator
Depending on your circumstances, refinancing your mortgage can be a smart financial choice. However, while you can reap substantial savings, there can also be high costs when refinancing a mortgage. That’s where a mortgage refinance calculator comes in. It can g.... More »
Reverse Mortgages growing in popularity… Product of the year 2018? + MORE Feb 23rd
Mortgage stress test is the buzz phrase in mortgage lending for 2018. Every borrower, regardless of how much down payment you’re making, must pass a stress test to qualify for a mortgage. The math is simple, yet intimidating. Lenders must now use your mortgage contract rate PLUS 2.00% to qual.... 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…
