Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter set of rules before approval, including a stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines are published in the Residential Mortgage Unde.... More »
OTTAWA _ Canada’s housing agency is looking to an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb. The head of the Canada Mortgage and Housing Corp., says he believes short-term rental companies like Airbnb and Vacation Rental By Owner (VRBO) could help increase .... More »
More Canadians are living the single life, recent Statistics Canada census data shows. Out of the 14.1 million households recorded in Canada in 2016, about 29 per cent declared themselves to be one-person households (the highest since Confederation in 1867). This is due in part to changes in inco.... More »
Q. I live in Manitoba and have about $600,000 invested in GICs at a local credit union. I am 63 years old, retired with a pension, no debt and no mortgage. However, I still worry about this money and it has been hard for me to find an unbiased view on its safety. Can you help? —Glenda W. A. I thi.... More »
Six in 10 mortgage consumers choose brokers, in large part because they think brokers will get them the best rate. All too many of those people associate the “best” rate with the “lowest” rate. Mortgage professionals know that’s not generally true, but convincing clients of this isn’t always easy. While rock-bottom “no-frills” mortgage rates may […]
OSFI’s proposed stress-test changes could result to up to 75,000 fewer home sales in a year when combined with other changes and recent interest-rate hikes