Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Understanding the Smith Manoeuvre: a Canadian mortgage strategy decoded Jan 6th
For nearly four decades, Canadians have turned to an investment strategy of writing off the interest from mortgage payments as tax-deductible. Known as the Smith Manoeuvre—after its creator, financial planner Fraser Smith—the strategy involves getting a readvanceable mortgage, which includes a l.... More »
Bank of Canada holds rate, hints at increases to come Dec 6th
OTTAWA — The Bank of Canada stuck with its trend-setting interest rate Wednesday — but it offered fresh, yet cautious, warnings to Canadians that increases are likely on the way.
The central bank has now left the rate locked at one per cent for two straight policy announcements after the stren.... More »
Rate hikes, food inflation, mortgage costs: How to get through the cost of living crisis + MORE Jul 18th
No matter the state of your finances, avoiding your fears is not the way forward, experts say. Focus on what you can control..... More »
With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase + MORE Jun 9th
Over two thirds (68%) of Canadians say they plan to wait until mortgage rates drop before they decide to purchase a house..... More »
My mission is to help keep mortgage consumers informed! + MORE Dec 9th
Many mortgage brokers and other sales/service professionals keep track of numbers to measure whether we’re on track for growth year-over-year.
So, I did some math. Since becoming a broker in 2004, my team and I have successfully funded more than $920 million in mortgages. That’s a big n.... More »
(iStock)If you don’t know them personally, you’ve read about them: the woebegone residents of Vancouver, Toronto, and the surrounding areas of those two cities who bought too much house. Some of you pity them; so unfair their time to buy arrived at the frothiest stages of a property bubble. But I bet just as many of you are disdainful. You ask: Why the hell don’t these people rent?
Hold onto those competing impressions. We will be coming back to them.
The economy just survived a scare. For a few weeks in May, Home Capital Group Inc. looked like it would become the first Canadian financial institution to collapse since the 1990s. But HomeCap still is with us, and the chatter that its troubles herald a housing meltdown has subsided. “From the very beginning, we have seen this as a Home Capital issue as opposed to a broader issue,” Finance Minister Bill Morneau told the Globe and Mail on May 12.
Home Capital, a subprime lender, is too small to cause much trouble on its own. (Its mortgages account for about one per cent of the total market…
Q2 2017 Bank Earnings – Mortgage Morsels
– canadianmortgagetrends.com
Another quarter, another $10.16 billion in net profit for Canada’s Big 6 banks. That’s an 18% increase over last year’s haul. Growing mortgage portfolios were responsible for much of that growth. CIBC in particular saw it’s mortgage book expand 12% from a year ago. Observers looking for signs of weakness in the country’s housing market […]
