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Latest News
BoC Drops Key Rate 0.50%-Pts. Will Prime Rate Follow? + MORE Mar 5th
The coronavirus contagion left the Bank of Canada little option today. It cut Canada’s key interest rate amid fears of a deepening economic downturn. It was the bank’s first rate cut in nearly five years and likely won’t be its last this year.
The move brings Canada’s overnight target rate .... More »
How much does life insurance cost in Canada? + MORE Mar 23rd
Life insurance is often touted as the financial safety net we all need, but what if it’s an added expense you’re not sure you can afford? If that’s your thinking, you’re far from alone—a 2019 study showed that most Canadians are underinsured, with 49% having never purchased life insurance.... More »
Rising household debt could be drag on long-term growth: federal document + MORE Aug 26th
Even debt-free Canadians could eventually feel a pinch from someone else's maxed-out credit cards, suggests research presented to senior officials at Canada Mortgage and Housing Corp..... More »
Are we on track to generate $6,500 a month in retirement + MORE Aug 13th
Randy and Sandra Luke
Up until last year, Sandra and Randy Luke were focused on paying off their mortgage. With that goal behind them, they’re ready for their next challenge: to retire in 10 years. But can they save enough to build a portfolio capable of delivering a monthly net income of $6.... More »
What is a private mortgage and when does it make sense? Sep 1st
For those having trouble qualifying for a traditional mortgage, other solutions are still available, one of which is a private mortgage. And with increasingly stricter mortgage regulations and qualification requirements being introduced by the government, they’re growing in popularity. Private.... More »
Up Your Digital Game
– canadianmortgagetrends.com
“There is not digital strategy, only strategy in a digital world.” Andrew Lo, COO at Kanetix Ltd., shared that maxim at last week’s MPC National Conference. His message: It’s time for brokers and lenders to stop thinking of customer experience online as being distinct from customer experience in general. With the net being embedded in most of our lives, “strategy” and “digital strategy” are virtually the same thing. “I am sure mortgages are ripe for disruption,” Lo said at the event. The mortgage process is full of frustration, and the job of brokers and lenders is to “convert people from READ MORE
