January 6th, 2021
Record-low mortgage rates are one of the major drivers of the huge rebound in home sales Canada has experienced since early summer. And, with the country’s central bank committing to … [read more]
January 4th, 2021
Pre-qualifying for a mortgage is often the first step towards owning a home. If you’ve never done this before, though, you might not know where to start. Here’s some information … [read more]
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December 30th, 2020
Tips For Getting Preapproved for A Mortgage If you start looking for your new home before you know how much you can afford to spend, you will be in for … [read more]
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December 29th, 2020
Looking to buy a house in Canada? Before applying for a mortgage pre-approval, you should check your credit score in order to ensure you can be approved for a mortgage … [read more]
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December 15th, 2020
Investors must be chomping at the bit to scoop up downtown resale condos in what’s become a buyer’s market with historically low interest rates, but what kind of mortgage makes … [read more]
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December 7th, 2020
Today, most homeowners still acquire properties through a mortgage loan. Studies show that over three-quarters of home purchase applications are approved. That leaves around 25% faulty and erroneous ones. The … [read more]
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October 28th, 2020
More millennials have been motivated by the COVID-19 pandemic to think about buying a home, but do they have enough money saved to go ahead and buy one? That was … [read more]
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September 24th, 2020
The Bank of Canada announced today that it would be keeping its mortgage-market influencing policy rate at the record low 0.25 percent level with no sign that it would increase … [read more]
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September 16th, 2020
A reverse mortgage is a loan option that allows seniors 62 years or older to live comfortably in their retirement. Borrowers can cash off their equity and pay for their … [read more]
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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]
Comments Off on 5-Year Mortgages at 1.89% as Bank of Canada Cuts Rates for Mortgage Stress Test for 2nd Time This Year
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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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