June 5th, 2018
Last week, Canada’s major banks reported that they expected their mortgage applications to be cut by 50% in the second half of 2018. That’s because a new mortgage stress test … [read more]
June 5th, 2018
If the mortgage-rate outlook was a weather forecast, you’d see gathering clouds and rain. For now, the sun is done. Borrowing costs on the hugely popular five-year fixed-rate mortgage have … [read more]
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June 3rd, 2018
OTTAWA — The Bank of Canada kept its key interest rate target on hold Wednesday, but noted the Canadian economy was a little stronger than expected in the first quarter, … [read more]
Comments Off on Bank of Canada Keeps Key Interest Rate Target on Hold at 1.25%
June 1st, 2018
Canada’s biggest banks are reporting their second quarter earnings this week, and at least one appears to be experiencing a serious cutback in the number of mortgage applications it’s been … [read more]
Comments Off on Canadian Mortgage Applications will Remain Low in the 2nd Half of 2018
May 30th, 2018
If you’re a real estate aficionado (and, let’s face it, that’s most of us in this real estate-obsessed country), you’ve likely heard more than a few rumblings about increasing mortgage … [read more]
Comments Off on Why Are Fixed & Variable Mortgage Rates on the Rise?
May 29th, 2018
It doesn’t make sense to pay a third party to arrange to pay off your mortgage early. As the housing market continues at a hot pace, many different types of … [read more]
Comments Off on Why Extra Mortgage Payments Seldom Make Sense
May 28th, 2018
Homebuyers with a lower credit score pay thousands of dollars more for the same home than a buyer with an excellent credit score. A new Zillow analysis found that nationally, … [read more]
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May 23rd, 2018
It just became slightly tougher to qualify for a mortgage, as Canada’s central bank just upped the rate used to stress test new borrowers. The Bank of Canada hiked its … [read more]
Comments Off on Bank of Canada Stress Test Rate Increases to 5.34%
May 22nd, 2018
Refinancing your mortgage has become a lot more complicated and expensive, but experts say there are things you can do to save yourself some pain. OTTAWA — A surge in … [read more]
Comments Off on Doing the Homework & Save Thousands of Dollars When Renewing the Mortgage
May 18th, 2018
When it comes to getting approval for a home mortgage loan, borrowers can either work with a mortgage broker or the bank. Either option will take you one step closer … [read more]
Comments Off on Things to Know Before Beginning the Borrower’s Journey from Mortgage Broker or Banker
May 16th, 2018
Most people won’t live in the same home for 30 years, the typical life of a mortgage loan. So, when it comes time to sell, many homeowners still have mortgage … [read more]
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May 8th, 2018
A full 53% of British Columbian renters say they rent as opposed to owning a home because they struggle to save enough for a down payment, according to a new … [read more]
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May 2nd, 2018
If Toronto-Dominion Bank wanted to put the housing market on alert, its rate hike this week did just that. The bank boosted its posted five-year fixed rate a walloping 0.45 … [read more]
Comments Off on Actions to Take Right Now as 3 Major Banks Hike Mortgage Rates
May 1st, 2018
It’ll be another month of no rate change for borrowers, as the Bank of Canada maintained its trend-setting Overnight Lending Rate at 1.25% for the second consecutive time. While economists … [read more]
Comments Off on Bank of Canada Holds Rate Despite Pressure to Hike
April 23rd, 2018
Millennials are increasingly expecting their parents for greater help when it comes to housing. A report from Apartment List that surveyed 13,000 people born between 1981 and 1996 found that … [read more]
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April 20th, 2018
If you are invested in real estate, you should be aware that you have a higher risk of becoming the target of a lawsuit in our litigious society. In 2015 … [read more]
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April 20th, 2018
The Bank of Canada announced on Wednesday that it will keep its benchmark interest rate at 1.25%. While many expected a hold, investors were uncertain and felt that a surprise … [read more]
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April 9th, 2018
Should you choose a fixed or variable mortgage? That is one major question currently facing potential home buyers. Admittedly, it’s always an important consideration when purchasing a home, but more … [read more]
Comments Off on Should Buyers Go Fixed or Variable as Mortgage Rates Rise?
April 2nd, 2018
You have a lot to consider before you decide to refinance your mortgage. There may be fees that are associated with the refinancing that can cancel out the savings benefits. … [read more]
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March 22nd, 2018
According to the National Reverse Lenders Association, more than 1,035,000 households had utilized an FHA-insured reverse mortgage by 2017. The equity value of homeowners age 62 and older exceeded $6.3 … [read more]
Comments Off on Pros • Cons • Myths About Reverse Mortgages
March 2nd, 2018
If you’re an aspiring first-time home buyer in Toronto, we get it: It seems like everything from government intervention, rising home prices, and increasing mortgage rates are conspiring against your … [read more]
Comments Off on Should Home Buyers Worry About Rising Interest Rates?
February 16th, 2018
If you’re switching jobs or plan to in the near future, you might want to know how that impacts your ability to buy a house. After all, purchasing a home … [read more]
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Comments Off on How Falling Mortgage Credit in the Canadian Housing Market Could Hurt the Economy