Canada Mortgages

Before Your Debt Gets Out of Control, Make a Plan

Shaun Goolcharan | Posted 06.16.2014 | Canada Business
Shaun Goolcharan

For the average person, debt management seems like a simple strategy. But it is easy for debt to get out of control -- the sooner you make a plan and stick to it, the better it will be for you in the long run.

Mortgage-Free (And Loving It): How To Put Your New Funds To Use

Posted 06.09.2014 | Canada Business

Congratulations — after many years of monetary sacrifice, you have finally made it to the mountain top and accomplished what many have only dreamt o...

Brace Yourselves

CP | The Canadian Press | Posted 04.26.2014 | Canada Business

OTTAWA - The Royal Bank of Canada (TSX:RY) says the ability of Canadians to keep up with housing costs has been improving of late, but warns that's ab...

Is Debt the New Addiction?

Tim Paziuk | Posted 02.18.2014 | Canada Business
Tim Paziuk

Have we become a society addicted to debt? Based on some recent surveys, I would have to conclude that the answer is yes. Debt has become an acceptable fact of life in our society. Can you live without borrowed money? If not, you may be living on borrowed time.

When it Comes to Your Mortgage, Every Day is Opposite Day

Tim Paziuk | Posted 10.14.2013 | Canada Business
Tim Paziuk

It wasn't too long ago that banks were recommending locked in mortgages because they told us rates could be going up. What happened, of course, is that interest rates came down as we've seen, and a lot of people were (and some still are) paying significantly higher interest.

The Secret the Banks Don't Want You to Know

Joaquin Benitez | Posted 09.08.2013 | Canada Business
Joaquin Benitez

As the old saying goes, "the best way to make money is to stop losing money." Having the knowledge of how lending institutions operate is empowering. What is the secret that the bank does not want you to know? The bank does not want to take away your home!

A Dirty Little Secret About Mortgage Interest Rates

Douglas Hoyes | Posted 08.12.2013 | Canada Business
Douglas Hoyes

TD Canada Trust announced that they were increasing the interest rate on a five year closed mortgage from 3.09 per cent to 3.29 per cent. If your mortgage interest rate goes from 3 per cent to 4 per cent, how much did it go up? The obvious answer is 1 per cent, but if your mortgage interest rate goes from 3 per cent to 4 per cent, your interest increased by one third, or just over 33 per cent.

Was Your Mortgage Made In Bangladesh?

Peter Spiro | Posted 06.30.2013 | Canada Business
Peter Spiro

The tumultuous events in Bangladesh are not as far away as you might think, and their effects on your well-being go far beyond cheap chic clothing. What we have on a global scale is a massive amount of lending by the poor to the rich. Sounds crazy, doesn't it? To his credit, Fed Chairman Ben Bernanke was one of the first economists to identify this problem, way back in 2005. He called it a global savings glut. It has only gotten worse since then. It is responsible for your low mortgage rate, and also large deficits and high unemployment in the industrialized countries.

Canadians Beginning To Understand Just How Big Their Mortgages Are: Poll

CP | The Canadian Press | Posted 06.06.2013 | Canada Business

TORONTO - The average Canadian homeowner doesn't think they'll be mortgage-free until they're 57 — two years longer than what they expected last yea...

Bidding Wars and Real Estate Rage in Toronto

Jenna Em | Posted 06.02.2013 | Canada Living
Jenna Em

Whether you're in Ontario or in a different province, you've likely heard about Toronto and GTA housing prices. Last night was the first time we placed an offer in over two years -- and was the first time ever we participated in a home bidding war!

Canadians Heeded BoC's Warning

CP | Julian Beltrame and David Friend, The Canadian Press | Posted 02.10.2013 | Canada Business

Bank of Canada governor Mark Carney says interest rates may need to rise to discourage excessive borrowing, but adds there is evidence Canadians are a...

New Mortgages Plunge: CMHC

The Huffington Post Canada | Posted 11.29.2012 | Canada Business

The number of new mortgages insured by the Canada Mortgage and Housing Corp. dropped by more than a third in the three months ending in September, ano...

Rachel Mendleson

Canada's Housing Bubble To Burst In A Big Way?

HuffingtonPost.com | Rachel Mendleson | Posted 08.24.2012 | Canada Business

As debate about the stability of the Canadian housing market continues to swirl, a new report has come down firmly on the side of the bubble believers...

Have You Heard? They're Here Now

CP | The Canadian Press | Posted 09.08.2012 | Canada Business

TORONTO - New mortgage rules went into effect Monday in Canada, but a recent survey suggests many people are unfamiliar with the changes.Starting Mond...

Why Some Cities Cost More to Live In (Ahem, Vancouver)

Mitch Parker | Posted 09.05.2012 | Canada Business
Mitch Parker

When we see real estate prices in the news, we often get a lumped valuation of a specific city or country as a whole. The reality is that no matter how the market is performing, there will always be neighbourhoods that are increasing and ones that are in decline. Why is that? Here are few factors that can affect local real estate prices in any city.

Canadians Have This Many Years Left On Mortgage, On Average

CBC | Posted 09.03.2012 | Canada Business

Canadians have, on average, 15 years left on their mortgages, according to a survey released Wednesday by the Bank of Montreal. “This av...

Flaherty: New Mortgage Rules Will Slow Economy, But It's Worth it

CP | Julian Beltrame, The Canadian Press | Posted 08.29.2012 | Canada Business

OTTAWA - New mortgage rules to discourage homebuyers from borrowing too much could further dampen a fragile economy, but it's a risk worth taking, Fin...

Canadians Can Take 40 Per Cent Collapse In House Prices: Agency

CP | Craig Wong, The Canadian Press | Posted 07.24.2012 | Canada Business

OTTAWA - Credit rating agency DBRS said Thursday that average Canadian households can withstand a catastrophic drop in home prices, but warned that a ...

Flaherty Slams Bankers For Wanting Stricter Mortgage Rules

CBC | Posted 05.22.2012 | Canada Business

Finance Minister Jim Flaherty fired back Thursday at those in Canada's banking industry who have called on Ottawa to tighten lending regu...

Pffft: It's Not Like We Wanted to Be #1 Anyway

Scott Boyd | Posted 04.11.2012 | Canada Business
Scott Boyd

With the release of the latest growth projections from the Bank of Canada and the International Monetary Fund (IMF), it appears that Canada's two-year run at the top of the G7 group of countries could be coming to an end. Both the Bank of Canada and the IMF have lowered this year's growth predictions, paving the way for - get this - America to take over the top spot.

CMHC: Canadian Housing Market In Good Shape

CP | Mary Gazze, The Canadian Press | Posted 10.29.2011 | Canada Business

Canada's national housing agency says it expects home sales and construction activity will cool but remain healthy in the second half of the year, due...

Massive Drop In Toronto Home Prices Not Sign Of Apocalypse

The Huffington Post Canada | Daniel Tencer | Posted 10.17.2011 | Canada Business

In the first half of July, the average resale price of a stand-alone home in Toronto was $720,808. A month later, in the first half of August, it w...

4 In 10 Canadians Hindered By Debt: Poll

CP | Posted 10.08.2011 | Canada

TORONTO - About 72 per cent of Canadians say they're holding some form of debt, according to a new poll by CIBC. The bank found that of those debth...