Why are mortgages so expensive in Canada? + MORE Nov 21st

Interested in learning more about property mortgages in Canada? Look no further!

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Does it make sense for a young person to have life insurance? + MORE Nov 24th

Buying life insurance in your 20s can feel like an added cost to an already long list of expenses. But experts say it can safeguard loved ones if life doesn’t go as planned. Do young Canadians need life insurance? There can be a “very high temporary insurance need” for younger Canadians,.... More »

Unsure about buying a home? Why you should open an FHSA now anyway Dec 12th

Buying a home in Canada hasn’t been easy in recent years, but thanks to recent changes to mortgage rules, falling interest rates and more cuts expected in the months ahead, many prospective home owners are feeling freshly optimistic. It all starts with a down payment, though—and the bigger, the .... More »

Why three big banks raised fixed mortgage rates despite falling bond yields + MORE Dec 3rd

Despite low bond yields, banks and other lenders are continuing to raise rates. We talked to several rate experts to understand why..... More »

Quebec’s legal battle between CNQ and title insurers leaves brokers and homeowners in limbo ahead of mortgage renewal wave + MORE Nov 27th

Quebec-based mortgage brokers and homeowners are caught in limbo due to an ongoing legal battle that is unlikely to be resolved before the renewal tsunami hits..... More »

OSFI’s stress test on mortgage switches ends today: What you need to know

– canadianmortgagetrends.com

Starting tomorrow, certain mortgage borrowers will find it easier to switch lenders, thanks to the removal of the requirement to qualify at a higher stress test rate.

Continue Reading On canadianmortgagetrends.com »

Ask the Expert: Steve Garganis on how the US impacts Canadian mortgage rates

– canadamortgagenews.ca

We all know that whatever happens in US it will affect Canada. Here is my next interview with RatesDotCa for their Ask The Expert edition – Steve Garganis on how the US impacts Canadian mortgage rates.

With President Trump making his return to the White House, financial markets are scrambling to make sense of what’s to come. And whatever our neighbours to the south do, Canada tends to follow. Here’s how this might shape your fixed mortgage rate in the near future. Read more – Interview with Steve

I hope you will enjoy this article and if you have any questions or would like to discuss I am always available.

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Steve Garganis: 416-224-0114; steve@canadamortgagenews.

Continue Reading On canadamortgagenews.ca »

Why are mortgages so expensive in Canada?

– moneysense.ca

Canada’s mortgage market has now absorbed four Bank of Canada (BoC) rate cuts, and house hunters are feeling the effects. The latest housing affordability data compiled by Ratehub.ca finds that lower mortgage rates made it easier to purchase a property in nearly every major Canadian housing market in October—a finding backed by a strong uptick in buying activity, as national home sales rose by 30% last month. (Ratehub Inc. owns both Ratehub.ca and MoneySense.)

The monthly report provides a snapshot of how affordability is evolving in real time across Canada, based on real estate data from the Canadian Real Estate Association (CREA), changing mortgage rates and the mortgage stress test. It measures affordability by determining how much income is needed to qualify for a mortgage for the average-priced home in each market.

The October edition (updated monthly, so bookmark this page) reveals that affordability conditions improved in 12 of the 13 markets studied. This was mainly due to the fact that mortgage rates steadily decreased over the course of the month…

Continue Reading On moneysense.ca »

Banks.ca constantly finds the best and most current mortgage information available in Canada.