Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Ask the Expert: Steve Garganis – How Trump’s tariffs will affect your Canadian mortgage + MORE Feb 1st
I will start with a quote from Trump’s book, The Art of the Deal
“I aim very high and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes I settle for less than I thought but I still end up with what I want.“
In the summer of 2016, ahead of .... More »
Proof of down payment: The biggest hurdle for mortgage professionals + MORE Aug 4th
For mortgage professionals, verifying a client's down payment sources can be one of the most challenging aspects of the mortgage approval process..... More »
The best 5-year fixed mortgage rates in Canada May 24th
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
Mortgage arrears have yet to peak, but unlikely to reach long-term norm: BMO + MORE Aug 1st
Despite a gradual rise, Canadian mortgage arrears are expected to remain manageable due to the economic recovery and the mortgage stress test.... More »
Mortgage brokers: Are you asking the right questions when choosing a mortgage brokerage? + MORE Aug 7th
As a mortgage broker, you negotiate tirelessly to secure the best rates and terms for your clients. But have you applied the same diligence to selecting your brokerage?.... More »
U.S. inflation eased in June: Good news for Canadian mortgage shoppers
– canadianmortgagetrends.com
U.S. financial markets got a boost today with a lower-than-expected inflation reading, marking the lowest level since May 2020.
Weekly mortgage digest: Which big banks just dropped fixed rates?
– canadianmortgagetrends.com
After a spike in bond yields last week prompted some mortgage lenders to increase certain rates, fixed mortgage rates are again trending downward.
6 things to consider before borrowing from the Bank of Mom and Dad for your first home
– moneysense.ca
As homes remain unaffordable to many Canadians, more and more young adults are turning to the Bank of Mom and Dad to help with a down payment or with mortgage payments. A recent CIBC survey showed that 31% of first-time home buyers in Canada received financial help from their parents or a relative, with the average gift being $115,000. While mom and dad’s money can certainly boost your down payment, borrowing from family does come with some financial and relationship considerations.
Before locking into a familial loan, both parties must assess whether they are on the same page and are in a position to take on this type of agreement—along with knowing the power and relationship dynamics that could come with it. Here are six key considerations when borrowing from the Bank of Mom and Dad for your first home.
The complete guide for first-time home buyers
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1. Is it a gift or is it a loan?
Determine if the financial help you’re discussing with your family is a gift or a loan…
