Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Despite Uncertainty, Canadians Are Keeping Up With Mortgage Payments + MORE Oct 5th
You might have heard some sensationalist news stories over the past year about Canadian homeowners over-borrowing. With the employment rate so low, and mortgage debt so high, how could Canadians possibly keep up with their payments? Headlines spewed dire warnings that once payment deferrals expired,.... More »
High rent, mortgage rates keeping upward pressure on inflation Jan 19th
Canada’s inflation rate continued to ease in December, despite upward pressure from rising rents and mortgage interest costs. The Consumer Price Index eased to an annual growth rate of 6.3% last month, thanks largely to a decline in gas prices. That’s down from 6.8% in November and what .... More »
Your mortgage interest payments are likely going up. Is there a way to reduce them? Nov 28th
A lump-sum payment would go directly to the principle of your mortgage, meaning you’re immediately paying less interest..... More »
Latest in Mortgage News: House Price Growth to Cool by End of Year: TD + MORE May 1st
TD Bank is forecasting that home prices have further to rise yet before finally starting to lose steam by the end of the year. “…with markets remaining historically tight, more near-term gains are in the cards,” wrote TD economist Rishi Sondhi in a recent report. But, with home pri.... More »
Thinking of a private mortgage? Here’s what lenders want to see + MORE May 9th
Private mortgages continue to play an important role in today’s Canadian housing market, especially as traditional lending guidelines tighten. Yet many borrowers are surprised to learn that private lenders don’t simply look at one or two factors — they assess a wide range of details that can m.... More »
The problem with low mortgage delinquency rates
– moneysense.ca
When the Canada Mortgage and Housing Corporation announced earlier this week that mortgage delinquency rates had fallen to the lowest level in decades during the fourth quarter, there was a rash of stories patting Canadians on the back for their financial prudence. If you listened to the experts and commentators, you would certainly think that Canadians are the sound personal fiscal managers the world thinks we are.
But do these numbers really support that belief?
This question rankles many of us in the trenches of the debt business. Licensed insolvency trustees regularly see people who manage to meet their mortgage payments for months, even years, while the rest of their fiscal house falls down around them.
Before going any further, let me state I understand that our typical client may not reflect the average Canadian households. But as I wrote in Maclean’s in April, we were seeing a significant increase in the number of people coming into our offices who ought to be doing a lot better financially…
But do these numbers really support that belief?
This question rankles many of us in the trenches of the debt business. Licensed insolvency trustees regularly see people who manage to meet their mortgage payments for months, even years, while the rest of their fiscal house falls down around them.
Before going any further, let me state I understand that our typical client may not reflect the average Canadian households. But as I wrote in Maclean’s in April, we were seeing a significant increase in the number of people coming into our offices who ought to be doing a lot better financially…
Homebuyers: Avoid These Common Mortgage Pitfalls
– canadianmortgagetrends.com
A home is the largest purchase most people will make in their lives. That should reinforce the importance of planning ahead, doing your research, relying on the advice of experts and not rushing through the process. With nearly 700,000 homes purchased in Canada each year, there’s no shortage of anecdotes about the issues and surprises […]
