March 25th, 2019
To qualify for the best mortgage rates, you’ll need a high credit score. When you apply for a mortgage, lenders use your credit score as a significant factor in determining … [read more]
March 22nd, 2019
The Bank of Canada (BoC) officially turned dovish in today’s scheduled rate announcement, keeping its trend-setting Overnight Lending Rate untouched at 1.75%, and explicitly stating lower interest rates will continue … [read more]
Comments Off on What Does Bank of Canada March Announcement Mean for the Mortgage Rate?
March 18th, 2019
Economic researcher Will Dunning has a problem with the mortgage stress test the federal government imposed about a year ago. Actually, he has four. Last January, the Canadian government expanded … [read more]
Comments Off on Canada’s Mortgage Stress Tests Are Hurting the Homebuyers & Economy
March 15th, 2019
The Bank of Canada for some time has been suggesting higher and higher interest rates are coming soon — until this week. Economists are noting the central bank took on … [read more]
Comments Off on Interest Rate Hikes Could Pull A U-Turn
March 13th, 2019
Asking for a friend — if you’re a 29-year-old writer with minimal savings and a monthly rent in Toronto that is nearly half of your income (plus you’re saddled with … [read more]
Comments Off on Making a Down Payment Savings Plan
March 12th, 2019
Money and family can be a tricky combo to manage, especially when comes to one of life’s most expensive purchases — buying your first home. As tougher mortgage rules and … [read more]
Comments Off on Getting A Loan from The Bank of Mom & Dad?
March 8th, 2019
Despite having the highest home prices in Canada, rising lending costs and plunging home sales, Metro Vancouver mortgage holders have the lowest mortgage delinquency rate in the country, according to … [read more]
Comments Off on Metro Vancouver Mortgage Delinquency Rates Lowest in Canada Despite Highest Prices & Plunging Sales
March 5th, 2019
The prospect of being on the hook for mortgage payments for the next quarter-century would make the heart of every first-time buyer pound. Signing the dotted line for the largest … [read more]
Comments Off on Mortgage Questions for 1st-Time Homebuyers
March 1st, 2019
The unexpectedly weak Canadian housing market is one factor making it likely Bank of Canada Governor Stephen Poloz will take a less aggressive approach to interest rates this year, notes … [read more]
Comments Off on Bank of Canada will Take Interest Rate Hikes Easier This Year After Aggressive 2018
February 28th, 2019
Spotty credit card payments might not seem like a big deal when you’re first starting out, but that banking boomerang will hit you hard when it comes back around during … [read more]
Comments Off on It’s Important to Establish Healthy Credit Habits Long Before Homeownership Occurs
February 27th, 2019
Higher interest rates and new lending rules have curbed Canadians’ appetite for taking on mortgage debt, a new report suggests. According to credit-rating agency TransUnion Canada, the number of mortgages … [read more]
Comments Off on The End of Canada’s Mortgage Borrowing Spree
February 22nd, 2019
For prospective homebuyers, there are several financial hoops to jump through on the way to property ownership: growing a healthy downpayment, securing a preapproval, and finding a home that fits … [read more]
Comments Off on A Active Homebuyer’s Guide to Understanding Canada’s Mortgage Stress Test
February 18th, 2019
If the Canadian government acts on a major national industry group’s recommendation to help first-time homebuyers get a leg up, it will still fall short of providing the relief much … [read more]
Comments Off on Extending The Amortization Period isn’t Enough for Toronto & Vancouver Pricy Markets
February 8th, 2019
The buying process might appear straightforward to any first-time buyer— you find the house you love, sign on the dotted line and get the keys. But prior to those months … [read more]
Comments Off on Essential Finance Tips for First-Time Homebuyer
February 1st, 2019
The Bank of Canada has stepped to the sidelines since it last hiked the overnight rate, which influences rates on the mortgage market, this past October. Leaving the policy rate … [read more]
Comments Off on The Bank of Canada’s “Wait-And-See” Approach is Best for Homeowners
January 30th, 2019
Last week, Royal Bank of Canada lowered its posted five-year fixed rate from 3.89% to 3.74%. It was the first time since October 2017 that Canada’s biggest bank has lowered … [read more]
Comments Off on 5-Year Fixed Mortgage Rate Cuts, How Much will Borrowers Save?
January 28th, 2019
The asset management division of Canada’s biggest bank suggests there’s reason to be worried about the country’s housing market — but despite this, it expects higher interest rates remain on … [read more]
Comments Off on Higher Interest Rates Remain on the Horizon
January 25th, 2019
It’ll be hard to top the anticipation borrowers felt going into last year, a year that gave us one of the biggest mortgage rule changes of all time – the … [read more]
Comments Off on Mortgage Predictions for Canada’s Housing Market in 2019
January 24th, 2019
It wasn’t so long ago that there was hardly any doubt that Canadians would be seeing higher mortgage rates this year. The Bank of Canada was widely expected to continue … [read more]
Comments Off on Where are Canadian Mortgage Rates Headed in 2019?
January 14th, 2019
Like many other market observers, Central 1 expects the Bank of Canada will hike its influential key interest rate this year — but the credit union also presents a possible … [read more]
Comments Off on What Would It Take for Canadian Interest Rates to Drop in 2019?
January 11th, 2019
Ahead of the Bank of Canada’s first policy meeting of the year, scheduled for next week, Capital Economics is back at it again. The notoriously bearish economic research firm is … [read more]
Comments Off on Capital Economists Renew Prediction for Lower Interest Rates in 2019
January 6th, 2019
Canadians today are having to spend the highest share of their disposable incomes on mortgage payments since the early-’90s, when the market was reeling from a collapse in prices. That … [read more]
Comments Off on Higher Debt, Rising Interest Rates & Fading Real Estate Wealth are Expected to Hinder Economic Growth
Comments Off on How Does the Credit Score Affect the Mortgage Interest Rates?