Interested in learning more about property mortgages in Canada? Look no further!
Latest News
CMHC’s New Portfolio Composition Jan 23rd
Canada’s mortgage rulemakers want less exposure to insured mortgages and—as this BMO Capital Markets graph shows—they’re getting exactly what they want. Uninsured mortgages have been growing at two and a half times the pace of insured mortgages since the financial crisis. Bu.... More »
Is a reverse mortgage right for you? + MORE Aug 15th
Many Canadians are “house rich.” Their net worth appears healthy (the average tops $675,000), but in reality, a large chunk—sometimes 50% or more—of that wealth is tied up in their homes. Factor in the nation’s growing personal debt (according to Statistics Canada, we collectively owe $1.7.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE May 18th
After several years of sky-high borrowing costs, mortgage rates are (finally!) starting to ease up. That’s great news for cash-strapped Canadians currently shopping for the best mortgage rate—but it unfortunately hasn’t translated into improved affordability when buying a home.
The national.... More »
CMHC reports annual pace of housing starts in April up from March May 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts for April rose 17% compared with March..... More »
BIG NEWS: Mortgage includes Self-Employed Business Income and Best Rates! + MORE May 3rd
This is probably the biggest positive mortgage lending change in 10 years. A major lender has just announced a new program for self-employed individuals!
For the last several years, mortgage lenders were not including any business income when qualifying for a mortgage.
In other words, if you owned.... More »
Canadians plan to spend $17K on renos this year
– moneysense.ca
(Getty Images / ullstein bild)TORONTO – When Corinne McDermott’s mortgage came up for renewal, she and her husband considered moving.
“We always thought this house would be our middle house,” McDermott said of the east-end Toronto abode she shares with her husband and two kids.
But sky-high home prices, hefty realtor fees and land-transfer taxes deterred her. Instead she’s opted for a large-scale renovation — including building on a three-storey addition with an ensuite master bathroom and a walk-in closet — to the tune of roughly $150,000.
“We’re creating our dream home, that we plan on never leaving,” McDermott said.
Renovation contractors say soaring home prices in Toronto and Vancouver are encouraging many homeowners to pursue renovations instead of shopping for new homes.
“They can’t afford to buy new, so what they’re doing is they’re improving the living spaces that they’re in now,” said Jon-Carlos Tsilfidis, the renovators council chair at the Building Industry and Land Development Association…
Pacific Mortgage Group Inc. – Radius Financial
– canadianmortgagetrends.com
Company: Pacific Mortgage Group Inc. – Radius Financial Position: Senior Mortgage Underwriter Location: Vancouver, B.C. Senior Mortgage Underwriter Job description Underwrite and approve approximately 6 residential mortgage applications a day according to set guidelines and policies Develop and strengthen broker relationships in Western Canada Provide underwriting and credit expertise to network of Western Canadian brokers Work in home office environment Very competitive salary and bonus compensation program based on experience Desired Skills and Experience Qualifications 5+ years of end-to-end residential mortgage underwriting experience In-depth knowledge of credit and mortgage underwriting practices Excellent communication, customer service and negotiating skills Strong computer READ MORE
Your May Money Update
– ratesupermarket.ca
Feel like you have less cash this month? You’re not alone – spending tends to heat up during the warm weather days – Canadians are out of hibernation and we’re ready to shop. Between hitting retailers, the open road and the open houses, it can be easy to go over budget as temperatures rise.
Whether you’re a mortgage shopper, or on the hunt for a new credit card, we have several ways you can save this month. Read on for more details.
More Mortgage Rules to Come This Summer
Sorry, homeowner hopefuls – there are a number of restrictions set to hit the mortgage market this June. OSFI, the entity that regulates mortgage lenders and insurers, has introduced new qualification requirements, and has done away with cash back mortgage products for some borrower groups. Will you be affected? Read on to find out.
Read Rubina’s Blog | More Mortgage Rule to Come This Summer
Automatic GIC Renewals: What You Need to Know
Guaranteed Investment Certificates are a great beginner investment: they’re low risk, need little strategy and you’ll always get your principal amount back, with interest on top…
