Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Equitable Casts Giant Reverse Mortgage Lure for Brokers Oct 22nd
What do you do when your competition has a 32-year head start? If you’re Equitable Bank, you pay brokers 150% more than normal. That’s the surprising move Equitable has made to build momentum in its reverse mortgage business. This degree of compensation is virtually unprecedented in this sector..... More »
Q2 2018 Bank Earnings – Mortgage Morsels Jun 8th
The majority of Canada’s Big Six banks beat expectations for second-quarter earnings, despite slowing real estate activity and tighter lending rules for uninsured mortgages. Both RBC and Scotiabank posted 6% year-over-year increases in their residential mortgage portfolios, although the other .... More »
Nothing says commitment like a mortgage + MORE Nov 30th
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You can get married, but if you really want to.... More »
Scotiabank hits “inflection point” with successful multi-product mortgage strategy + MORE Sep 1st
Deposit growth strategy pays off as Scotiabank strengthens customer relationships amid mortgage volume dip.... More »
Merix Rolls Out NPX + MORE Feb 6th
Remember when McDonald’s was only open for lunch and dinner? Neither do I, but prior to the seventies it didn’t serve breakfast. Then a guy named Herb Peterson decided to utilize the golden arches’ existing infrastructure, come up with a passable product (Egg McMuffin) and leverage the cha.... More »
Mortgage Career: Kawartha Credit Union
– canadianmortgagetrends.com
Company: Kawartha Credit Union Position: Financial Services Representative Location: Peterborough, Ontario Financial Services Representative Years of Experience Required: A minimum of 2-3 years of personal lending experience Are licences or registrations required? Not applicable If you are interested in pursuing a career in the financial services industry with a dedicated, enthusiastic team of […]
The Slow Demise of Member Dividends
– canadianmortgagetrends.com
The Globe and Mail ran this piece today about online mortgage discounters. You’ll see similar stories in the coming months as the media picks up on this trend. Just as notable, however, was the article’s comment from Mitchel Chilcott, CEO of North Peace Savings and Credit Union (NPSCU). Chilcott was talking about member dividends, a form […]
Mortgage Career: BMO Financial Group
– canadianmortgagetrends.com
Company: BMO Financial Group Position: Mortgage Specialist Location: Edmonton, Alberta Mortgage Specialist Turn your potential into performance with unlimited earning potential, ongoing training, the backing of our extensive branch network and bigger territories than at most other banks. Enjoy the flexibility of working from home, a comprehensive benefits package, managing your own schedule and travelling […]
Optimize your retirement income
– moneysense.ca
(Stuart Dee/Getty Images)Q: My husband is 63 and I am 58 years-old. We have defined benefit pension plans totalling $90,000 for both of us; approximately $200,000 each in RRSPs; collect approximately $50,000 per year in rental income from two properties (we have a mortgage of $100,000 combined on these properties); I’m still earning approximately $100,000 per year and plan to work for the next two years; my husband is retired and although he can collect early CPP, he opted not to do so to minimize taxes; we have 2 daughters; one is 17; the other is 31 and on ODSP due to an intellectual disability; we have no other debts. We would like to plan our financial future to time the collection of CPP, minimize taxes, minimize capital gains tax and avoid clawback of the OAS. How can we achieve this? Can I avoid or at least minimize capital gains by selling or gifting a property to my daughter(s) or should I keep them as they are nearly paid off and we are deriving rental income? —Jackie
A: Your question is multi-faceted, Jackie, with considerations ranging from investments to taxes to estate planning…
Why foreign-owned condos really are a problem
– moneysense.ca
Homeowners recently sighed with relief when a recent Canada Mortgage and Housing Corporation study found that the percentage of foreign-owned condos in Canada’s biggest cities is typically less than 2.5%. But when we took a deeper dive into the numbers, we found much higher concentrations in the downtown cores of the cities below. That’s worrying because if enough foreign owners get spooked and sell, it could set off a crash that reverberates through the whole city.
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