Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Latest in Mortgage News: Are fixed mortgage rates about to take another leg higher? Aug 6th
There's speculation that fixed mortgage rates, which have continued to trend higher over the past several weeks, are set to rise even further..... More »
Fannie and Freddie Forever + MORE Dec 31st
The mortgage giants are once again claiming their paper has no risk for taxpayers. Yeah, right..... More »
Despite slowing volumes, First National expects to remain above pre-pandemic levels Aug 3rd
First National Financial saw a second consecutive month of slowing mortgage originations in Q2 as rising interest rates continue to impact the housing market..... More »
Real estate may not be sexy, but… Jan 26th
Rental properties are a secure long-term investment. Note the emphasis on “long-term”.
Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost alway.... More »
Why are mortgages so expensive in Canada? + MORE Feb 26th
The start of 2025 kicked off with fewer home sales than many hoped. Real estate prices ticked higher in many of Canada’s major markets—and prospective home buyers saw their purchasing power shrink.
Ratehub.ca just released its latest January Affordability Report. (Both MoneySense and Ratehub..... More »
Why borrowers are smarter than they look
– moneysense.ca
Canadians are constantly criticized taking on too much debt in today’s low interest rate environment. But a new study shows that mortgage holders are paying off their homes faster and faster, thanks to extra payments that are applied to the principal owing rather than the interest. The result is the average amortization has dropped from 25 years to 20. Making extra payments has another benefit for borrowers: In the event of a rate hike, you can simply return to your regular amortization payment schedule.
Source: Bank of Canada, Statistics Canada, CIBC
The post Why borrowers are smarter than they look appeared first on MoneySense.
The Best of MoneyWise 2014: Your Favourite Headlines
– ratesupermarket.ca
2014 has come and gone – what affected your bottom line this year? From navigating Canada’s steep housing market, to picking the perfect credit card, to trimming fees off everyday banking, readers turned to MoneyWise for expert advice and news – and we’re so glad you did!
To celebrate the start of 2015, we’ve brought back your favourite headlines of the year. Enjoy – and cheers to a fresh financial start in the new year!
CMHC Axes Second Home and Self Employed Mortgages
In April, Canada’s Mortgage and Housing Corporation, the entity that backs the majority of high-risk mortgages in Canada, announced the discontinuation of two of its products: coverage specific to self-employed buyers, and those looking to purchase a second home. While the Crown corporation stated the changes would affect only 3 per cent of applicants, the cuts presented challenges to those running their own businesses, or looking to rent out their property for profit.
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CIBC-Aeroplan Transition: Customers Speak Out
When Aimia, the owner of Aeroplan rewards, announced they would partner with TD upon the expiration of their long-standing contract with CIBC, the latter lender called foul…
