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
Inheritance coming your way this year? Planning for it means you won’t waste it Jan 9th
Set life goals, think of the present and future, weigh your contribution to the mortgage, and earn interest all the while, says Lesley-Anne Scorgie..... More »
Home construction must double over next decade to restore 2019 affordability: CMHC + MORE Jun 20th
Canada Mortgage and Housing Corp. says up to 4.8 million new homes will need to be built over the next decade to restore affordability levels last seen in 2019 based on projected demand..... More »
Romy Bowers Named New CMHC CEO as Outgoing Evan Siddall Addresses Off-the-Mark Forecasts + MORE Mar 5th
The Canada Mortgage and Housing Corporation has named its new CEO, capping what has been an extended search to replace outgoing chief Evan Siddall. Romy Bowers, CMHC’s current Vice President of Client Solutions, will succeed Siddall and officially begin her five-year term starting April 6. .... More »
Toronto housing bubble: Is it ready to pop? + MORE Nov 25th
The Toronto real estate market has experienced remarkable growth over the past two decades. The average home price in Toronto surged by a staggering 489% from 2000 to 2022, according to the Toronto Real Estate Board (TRREB). This rapid price growth has raised concerns about the future of affordable .... More »
Lender execs weigh in on today’s mortgage market Oct 26th
Executives of some of Canada's top mortgage lenders weighed in on some hot topics during the lender panel at MPC's recent National Mortgage Conference..... More »
Can You Qualify For A Mortgage After A Consumer Proposal?
– canadianmortgagetrends.com
After you file a consumer proposal, the last thing on your mind might be a new mortgage, but you may be a lot closer than you think. Maybe you wish to buy a home, or you own a home and are interested in refinancing your mortgage. Let’s first talk about purchasing a home. When Can […]
Why Do I Get Different Credit Scores from Different Websites in Canada?
– ratesupermarket.ca
Have you received a different credit score from a credit monitoring website than you did when applying for a car loan or mortgage? This isn’t just surprising for you: it’s a likely result. Canadians can use several free credit report sites to monitor their credit; they can also pay for credit monitoring and access to their scores. These scores aren’t the same as the ones used by banks, mortgage lenders, and credit card companies.
What are the different credit monitoring companies providing scores to Canadians?
There are several free credit monitoring services offering their own credit scores to help consumers monitor their credit use, including Credit Karma, Mogo, and Borrowell. These services can be useful to determine if your credit information is accurate. Lenders don’t use these scores to determine your credit-worthiness, so they are meaningless when it’s time to apply for a credit card or mortgage.
Most credit decisions in Canada are made based on the FICO score, which is created by the Fair Isaac Corporation, a U…
