August 15th, 2019
Stressed out about Canada’s mortgage stress test? Mortgage-comparison website RateSpy recently rounded up four “loopholes” for homebuyers trying to qualify under the tougher rules. The rules, introduced in January 2018, … [read more]
August 7th, 2019
Unregulated lenders are doling out more short-term loans tied to property investments, and that might amplify a Canadian home price downturn, one economist warns. Stephen Brown, senior Canada economist with … [read more]
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August 6th, 2019
For the first time in three years, the Bank of Canada has lowered its five-year qualifying mortgage rate, from 5.34% to 5.19%. This provides some slight relief for home buyers … [read more]
Comments Off on Bank of Canada Lowers Benchmark Qualifying Mortgage Rate
August 3rd, 2019
Canadian mortgage borrowers have been waiting years for this moment. This week the Bank of Canada’s qualifying rate declined, something that hasn’t happened since 2016. The rate fell to 5.19 … [read more]
Comments Off on Mortgage Stress Test Qualifying Rate Declined, Buying Power Boost for Homebuyers
August 1st, 2019
Are you ready to fork out the cash? If you’re anything like the vast majority of Americans, chances are high you don’t have this kind of money in your bank … [read more]
Comments Off on How to Find the Mortgage Company That’s Right for You?
July 26th, 2019
When the leaves start to turn and the mercury begins to drop, mortgage rates might be lower, too, one economist predicts. Capital Economics is sticking to its prediction that the … [read more]
Comments Off on Bank of Canada Interest Rate Cut Predicted for This Fall
July 25th, 2019
It took a while. The mortgage stress test that policymakers introduced in January 2018 has undeniably cooled the Canadian housing market — but homebuyers are adjusting to stricter standards, one … [read more]
Comments Off on Good News! Canadian Homebuyers are Adjusting to Stricter Mortgage Standards
July 22nd, 2019
Self-employment certainly comes with its benefits; you get to be your own boss, you get to make your own hours, and you get to build a company that’s all on … [read more]
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July 19th, 2019
It is more likely than not that the Bank of Canada holds the interest rate at 1.75% on Wednesday, but there’s a growing chorus that believes it will decrease the … [read more]
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July 18th, 2019
A year and a half after federal policymakers toughened up qualification rules to tame an unruly market and reduce risk to the economy, Canada’s mortgage market is showing signs of … [read more]
Comments Off on Where is Canadian Mortgage Market Heading for the Rest of 2019?
July 17th, 2019
Around 18 months of steady overnight rate rises have led mortgage holders and applicants to brace themselves for bigger monthly payments. But five-year fixed rates, held by 80% of homeowners, … [read more]
Comments Off on The Sub -3% Five-Year Fixed Mortgage is Back
July 10th, 2019
Criticism is piling up for the federal government’s First-Time Home Buyer Incentive, set to kick off this September. Economic researchers, realtors and mortgage experts have all questioned the usefulness of … [read more]
Comments Off on Has Federal Government Built a “Bridge to Nowhere” for 1st-Time Home Buyer?
July 9th, 2019
Some industry experts are calling for another rate cut from the Bank of Canada. There are several possible developments — first and foremost, a global economic downturn — that could … [read more]
Comments Off on Interest Rate Cut Could Put Canadian Housing Back in Bubble Risk Territory
July 6th, 2019
Most experts anticipate that the next time the Bank of Canada adjusts its policy rate, it’ll make a cut. So suggests a recent survey of 14 economic researchers, who financial-comparison … [read more]
Comments Off on Canadian Interest Rates are Heading for A Cut
July 5th, 2019
Asking the right questions when shopping for a mortgage is crucial and failing to do so could cost you thousands. However, the first question you need to ask yourself is … [read more]
Comments Off on The Right Questions to Ask the Lender Before Getting a Mortgage
July 1st, 2019
We should all make sure we look after our finances especially when a home purchase is on the horizon. Your financial well-being can have a huge impact on the interest … [read more]
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June 27th, 2019
Many consumers have misconceptions about what it takes to secure a mortgage, so much so that some won’t even try to apply for one as they believe they won’t qualify. … [read more]
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June 25th, 2019
When you ask someone where they get most of their financial advice, you’ll likely receive answers that most include family and friends. Unfortunately, relying on your social circles to provide … [read more]
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June 24th, 2019
Canadian mortgage rates have already tumbled in recent months and more discounts could be on the way for homebuyers, a new forecast from Central 1 Credit Union suggests. “Mortgage rates … [read more]
Comments Off on Potential Rate Cuts Could Be Coming for Canadian Homebuyers
June 21st, 2019
Rates for the most popular type of mortgage in Canada have sunken to the lowest level in about two years, and they could be heading further south before 2019’s end, … [read more]
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June 20th, 2019
Buying a home is the single most expensive thing you are likely to do in your life. Unless you are very lucky, you are likely to need a home loan … [read more]
Comments Off on Optimizing the Finances to Make Mortgage Payments Easier
June 18th, 2019
The stress tests most mortgage applicants in Canada face are defective — but rather than scrapping them, policymakers should make changes. That’s the overall message economist Will Dunning is sending … [read more]
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Comments Off on Loopholes to Canada’s Mortgage Stress Test