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
4 Money Pledges to Make in 2015 Dec 29th
It looks like Canadians might need to make some New Year’s debt resolutions.
According to Stats Canada, the average household debt ratio – which includes mortgages, consumer credit and non-mortgage loans – climbed to 162.6 per cent of their disposable income in the third quarter of 2014.
But.... More »
Latest in Mortgage News: Toronto Home Prices Set July Record Aug 9th
The rebound for Toronto home prices continued in July, with the average selling price reaching a record $943,710. That’s a 16.9% increase compared to a year earlier, according to the Toronto Regional Real Estate Board (TRREB). Home sales in the Greater Toronto Area were up 29.5% in July compar.... More »
From military service to mortgage success: How Philippe Gauvin found his perfect calling + MORE Jun 24th
When Philippe Gauvin completed his military service in 2019, he wanted to find a career that similarly valued discipline, a strong work ethic, and that provided the opportunity to help people..... More »
No Spring Thaw in Sight for March Mortgage Rates + MORE Mar 7th
RateSupermarket.ca’s expert panel say lenders are taking a wait-and-see approach
Good news for early spring mortgage borrowers: interest rates won’t be rising along with the thermometer. While early signs of economic improvement are promising, consumer lenders and the central bank alike are hol.... More »
Bully for the white-collar crackdown + MORE Sep 20th
(Mark Wilson/Getty Images)
In early 2005, Martha Stewart was sitting in a prison camp in West Virginia, serving out her five-month sentence for lying about the sale of a few thousand shares in a biotech company. At the same time bankers, analysts, traders and mortgage underwriters at some of America.... More »
Where do you want to retire?
– moneysense.ca
Photo by Jonathan ChevreauOnce it’s no longer necessary to commute to and from a downtown or suburban corporate job, where in the world do you want to be? I touched on this in a recent blog on reverse mortgages. Most full-time retirees know they want to be close to hospitals, universities and libraries. They don’t need to be as close to the downtown core or even be near major transit systems though that can be a nice extra if they value city culture and/or friends and family still live there.
Throughout my personal Findependence journey this summer I’ve been posting photos of the community I live in: Long Branch, Ont. It’s closer to downtown Toronto than its trendier neighbour to the west, Port Credit. The photo below, for example, I put on social media after biking along the (relatively) new boardwalk at the foot of 41st Street. At first glance you may think the photo is of some exotic beach somewhere down south—it’s hard to believe it’s a mere 15-minute GO Train ride from downtown Toronto…
Analyzing CMHC Borrowers
– canadianmortgagetrends.com
What does an insured mortgage borrower look like? According to CMHC data from last quarter, residential borrowers who paid for mortgage default insurance had: 8% equity on average (92% loan-to-value) Less than 10% down in almost 7 out of 10 cases 25-year amortizations, on average Amortizations over 25 years, only 3.1% of the time 745 […]
Housing across Canada became more affordable in the second quarter of this year because mortgage rates dropped, according to a report from RBC.
