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]
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]
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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]
Comments Off on Canada’s Mortgage Stress Tests are Broken
June 13th, 2019
Shopping around for a mortgage? You’ll quickly learn there is no one-size-fits-all product available to everybody. When you start narrowing it down, one of the first decisions you’ll have to … [read more]
Comments Off on Shopping Around for A Mortgage? What’s The Most Popular Choice Between a Fixed & Variable Rate? How Do You Decide?
June 12th, 2019
The Bank of Canada isn’t budging on its policy rate, at least at the moment, and that’s good news for borrowers. Canada’s central bank maintained the overnight rate, which influences … [read more]
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June 11th, 2019
A rush of homeowners are going to renew mortgages next year and when they do, they’ll most likely be faced with higher interest rates than when they signed on last. … [read more]
Comments Off on 2020 Will Be A Huge Moment for The Canadian Mortgage Market
May 28th, 2019
If you’d asked a big bank economist last year where interest rates were headed in 2019, they’d probably have said they were going up. They had good reason to believe … [read more]
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May 27th, 2019
More than half of first-time homebuyers in Vancouver are concerned they will miss out on buying a property because of an insufficient down payment. According to the findings of a … [read more]
Comments Off on 58% of 1st-Time Homebuyers Expressed Their Prospects of Buying a Home with Down Payment Challenges
May 21st, 2019
A month ago, I tested a theory that only people who have mortgages truly understand what they are. The same, I believe, is true for interest rates. We know it’s … [read more]
Comments Off on WTF Interest Rates for First-Time Homebuyers
May 20th, 2019
Buying a home can be exciting and a little scary all at the same time. There are many factors that go into buying a new home like finding the right … [read more]
Comments Off on Practical First Steps for Home Buyers
May 13th, 2019
As anyone buying property for the first time can attest, the learning curve is steep when you’re a real estate novice. You’re essentially hopping on the Magic School Bus of … [read more]
Comments Off on A First-Time Homebuyer’s Guide to CMHC Insurance
May 8th, 2019
Some Canadians who aren’t qualifying for mortgages at Canada’s big banks because of tougher mortgage rules aren’t taking no for an answer; they’re turning to less-regulated lenders, and that should … [read more]
Comments Off on Canadians are Turning to Riskier Lenders Because of the Mortgage Stress Test
May 7th, 2019
The Bank of Canada won’t be hiking its policy rate any time soon, says one economist — and that should be welcome news for mortgage borrowers with variable rates. On … [read more]
Comments Off on Welcome News for Mortgage Borrowers with Variable Rates
April 17th, 2019
Becoming a homeowner is a milestone in the life of any adult. Making the jump from renting to owning represents an important step on the road to financial security, and … [read more]
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April 16th, 2019
It’s no secret that first-time buyers have it tough in the current Canadian housing market. The homebuying process is fraught with confusing guidelines, financial prodding, and, occasionally, rejection. For Canada’s … [read more]
Comments Off on How to Purchasing A Home as A New Immigrant to Canada?
April 15th, 2019
There could be a spike in mortgage applications in the third quarter if a rate forecast from the British Columbia Real Estate Association is realized. The association’s economists are expecting … [read more]
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April 12th, 2019
I used to think I had a pretty good understanding of mortgages — you contribute a downpayment (a minimum of five percent of the property value if you’re in Canada) … [read more]
Comments Off on There’s No One-Size-Fits-All Mortgage Plan
April 11th, 2019
When buying your first home, it’s expected that you’ll view a variety of houses to find the one that best fits your needs. Mortgages are no different — having an … [read more]
Comments Off on Are You a 1st-Time Homebuyer Working with a Mortgage Broker?
April 10th, 2019
Tired of renting? You’re not alone! We all dream of owning a home at some point in life. The only gap separating you and owning your dream house is saving … [read more]
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Comments Off on Most Consumers Don’t Know What It Takes to Qualify for a Mortgage