August 17th, 2020
Record low mortgage rates for homes and multi-family properties will continue for at least two years, according to the Bank of Canada (BOC) as it chopped the qualifying rate for … [read more]
August 12th, 2020
After months of turbulence in the housing market, a new report offers insights on how Canadian homeowners are holding up through the COVID-19 pandemic. Over a quarter of mortgage holders … [read more]
Comments Off on Insights on How Canadian Homeowners are Making Mortgage Payments Through The Pandemic
July 28th, 2020
The pandemic has forced most of us to learn to live with a good dose of uncertainty when it comes to our ability to make even short-term plans. But despite … [read more]
Comments Off on Mortgage Interest Rate Outlook : Canada’s Central Bank is Comfortable Keeping Current Level Until 2023
July 16th, 2020
If you’ve been dreaming about buying a home, you’ve almost certainly been taking a close look at your finances. If your student debt is an obstacle to your home purchase, … [read more]
Comments Off on Understand The Debt to Income Ratio to Buy A Home
July 9th, 2020
The virus has thrown up a lot of financial roadblocks for people that were making serious progress towards buying a home this year. Make no mistake about it, your credit … [read more]
Comments Off on Credit Score Myths Toward Getting A Mortgage During COVID-19
July 9th, 2020
Canadian mortgage rates are in a virtual free fall, dropping to record-setting lows with discount brokers now offering one- to five-year variable rates in the 1.64% to 1.68% range. But … [read more]
Comments Off on Five-Year Fixed-Rates as Low as 1.9%, but Near-Free Money Arrives as Mortgage Debt & Deferrals Soar
June 16th, 2020
On Thursday, June 4 2020, Canada Mortgage and Housing Corporation (CMHC) announced new, tighter mortgage borrowing criteria that will apply to all insurance applications beginning July 1, 2020. CMHC is … [read more]
Comments Off on CMHC Announced 3 Updates to Lending Criteria for New Insurance Applications Starting July 1, 2020
June 10th, 2020
Canada Mortgage and Housing Corp.(CMHC), the largest insurer of residential mortgages in Canada, has tightened mortgage qualifications in a move expected to slow first-time home buying, and send a chill … [read more]
Comments Off on New Strict New Mortgage Policy Cut Homebuyer Purchasing Power by 11%
June 8th, 2020
The Bank of Canada this week announced it’s maintaining its mortgage-market influencing key interest rate at 0.25 percent, a rock bottom level unseen since the peak of the 2008-2009 Global … [read more]
Comments Off on Mortgage Rates will Stay Historically Low as The Pandemic’s Economic Impacts Continue
May 22nd, 2020
There are several ways you can pay your mortgage off faster and save thousands if not tens of thousands of dollars in interest payments. None of these methods requires that … [read more]
Comments Off on How to Pay Off The Mortgage Faster?
May 15th, 2020
A survey was conducted on April 6 by TransUnion on the current financial status of 1,035 Canadian adults in the wake of COVID-19. The results released showed that 68% are … [read more]
Comments Off on Does The Option to Refinance Work for Me Today?
May 15th, 2020
With anxiety mounting throughout March as the economic impacts of the COVID-19 pandemic intensified, Canada’s central bank took swift action to slash interest rates at several points during the month. … [read more]
Comments Off on Mortgage Rates will Remain Historically Low for Many Months to Come
May 14th, 2020
How and Why You Should Refinance Your Mortgage? Have you ever wondered what the reasons why so many people refinance their mortgage? Maybe you have heard friends and relatives discussing … [read more]
Comments Off on Mortgage Refinancing Reasons & Explained
May 12th, 2020
For those who are new to the world of investing, finding a property isn’t the hardest part! For many, finding the right type of loan for their real estate investment … [read more]
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May 5th, 2020
Buying a house is the ultimate dream of many people. Nowadays, the choice of property you can own is huge. Many things are put under scrutiny : the location, area, … [read more]
Comments Off on First Step for House-Hunting is to Talk to A Lender
May 1st, 2020
The Bank of Canada (BoC) chose to maintain its overnight lending rate at 0.25% in their April announcement, noting this rate could be considered its “effective lower bound” or that … [read more]
Comments Off on BoC Maintains The Lowest Overnight Rate at 0.25% + New Bond Programs Aimed at Bolstering Economic Recovery
April 28th, 2020
Whether you’re heading to your local bank for a mortgage or you’re going to be signing up for one online, you need some basic information that’s pertinent to the home … [read more]
Comments Off on A Checklist for Mortgage Approval
April 16th, 2020
Since the banks announced that homeowners struggling in the COVID-19 pandemic could defer mortgage payments for up to six months, more than a million Canadians are reported to have tried … [read more]
Comments Off on What You Need to Know About Deferring Mortgage Payments Due to COVID-19?
April 15th, 2020
In an emergency announcement today, Canada’s central bank cut its market-shaping overnight rate by 50 basis points to 0.25 percent in response to the coronavirus pandemic’s dramatic impact on the … [read more]
Comments Off on BoC 3rd Emergency Rate Cut to Battle The COVID-19 Fallout
April 14th, 2020
Clearly, the new historically low interest rates offer many, if not most, homeowners an opportunity to refinance mortgages. If you are considering refinancing, make sure you have clear goals about … [read more]
Comments Off on Refinancing Opportunities & Goals
April 14th, 2020
Canada’s central bank has already taken forceful action this month to cut its influential overnight rate to support the country’s economy through the coronavirus pandemic. It moved on March 4th … [read more]
Comments Off on More Interest Rate Cuts to Support Canada’s Economy Through The Pandemic
April 10th, 2020
With the Bank of Canada dropping its overnight rate by a full percentage point this month in response to the COVID-19 pandemic, it would seem to be a great time … [read more]
Comments Off on Fixed Mortgage Rates Hiked. Interest Rates on New Mortgages Increasing
Comments Off on 5-Year Mortgages at 1.89% as Bank of Canada Cuts Rates for Mortgage Stress Test for 2nd Time This Year