Interested in learning more about property mortgages in Canada? Look no further!
Latest News
How much income do you need to buy a home in Canada? A look at housing affordability in May 2025 Jun 23rd
After an unseasonably chilly spring housing market, green shoots are appearing in terms of buyer demand—and that could mean days are numbered for easy borrowing conditions.
The latest data from the Canadian Real Estate Association revealed that, after six months of declines, sales firmed up bet.... More »
For many homeowners 55+, the goal is no longer downsizing, but aging in place + MORE Jul 23rd
Here’s how mortgage brokers can support their needs..... More »
Making sense of the Bank of Canada interest rate decision on July 30, 2025 + MORE Aug 1st
There’s little change on the horizon for interest rates, as the Bank of Canada further entrenches into a holding pattern. The central bank chose to hold its trend-setting overnight lending rate—which is used by lenders to set their prime rates, and by extension, variable mortgage rates—at 2.75.... More »
How to grow your reverse mortgage business by partnering with realtors + MORE Jun 5th
Bring flexible financing solutions to the table to help realtors close more deals..... 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 »
Weekly Mortgage Digest: Why have lenders been hiking rates?
– canadianmortgagetrends.com
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.
Why Everyone Should Choose The Longest Amortization Possible
– canadamortgagenews.ca
One of the most common requests I get when discussing mortgage options with my clients is that they want the shortest amortization they can afford. They want to pay their mortgage off as soon as possible. I get it! And then I hit them with an unexpected recommendation. I tell them to take the longest amortization possible. Sounds contradictory? I’ll explain.
Let’s suppose you qualify and can afford a monthly payment of $3915 for a $500,000 mortgage amortized over 15 years. Should you choose a 15 year amortization? NO WAY!
There are 3 main reasons why…
1 – CHANGE OF FINANCIAL CIRCUMSTANCES OR JOB LOSS
Let’s suppose you run into some tough financial circumstances a year or two down the road. Maybe your spouse lost a job. You need to reduce that monthly payment to $3,000 to make ends meet. Well, guess what? You’re out of luck. You are stuck with that mortgage and a $3915/mth minimum payment. You can refinance your mortgage but you will have to pay legal fees and probably a mortgage penalty to exit this mortgage…
