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

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

Latest News

Canada’s home renovation costs are still climbing, but the pace is slowing Jan 11th

Home reno costs in Canada continued to climb in Q3, driven by higher roofing and window expenses, with many homeowners relying on their home equity to fund these projects..... More »

Mortgage Digest: Arrears rise to highest level since 2020, but remain low overall + MORE Jan 23rd

Canada’s mortgage arrears rate edged higher again in October, rising to 0.25% of all residential mortgages, the highest level since 2020, according to the Canadian Bankers Association..... More »

Opinion: Think twice before handing your mortgage to a bank adviser + MORE Oct 7th

Every now and then, something happens in this business that really drives home an important lesson, and this time, it’s about how trusting the wrong person with your mortgage file can cost you a great deal..... More »

Housing and interest rate forecasts for 2025 Dec 30th

As we reflect on 2024, it was a year of resilience and adjustment for Canada’s housing and mortgage market, marked by the Bank of Canada’s pivot to rate cuts after two years of relentless hikes, offering long-awaited relief to borrowers..... More »

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 »

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.