Canada Mortgages

Is Now the Time To Refinance? Run The Numbers First

Atrina Kouroshnia | Posted 02.12.2015 | Canada British Columbia
Atrina Kouroshnia

With talk about interest rates lowering even further after the Bank of Canada's surprise announcement several weeks ago, many homeowners across B.C. are likely wondering if it's time to refinance their mortgage and take advantage of lower rates.

Part 2: Seriously, Why Are You Still Renting In Vancouver?

Atrina Kouroshnia | Posted 01.16.2015 | Canada British Columbia
Atrina Kouroshnia

In all of my meetings and blog posts, I always emphasize creating a budget and sticking to it, even if it means waiting a little longer before you buy, or buying something smaller.

Seriously, Why Are You Still Renting In Vancouver?

Atrina Kouroshnia | Posted 01.03.2015 | Canada British Columbia
Atrina Kouroshnia

At the end of the day, would you rather pay $1,800 in rent or mortgage?

What To Consider When Renting Out A Suite In Your Home

Atrina Kouroshnia | Posted 12.15.2014 | Canada British Columbia
Atrina Kouroshnia

One effective way to offset the costs of a mortgage is to create a secondary suite or in-law suite and rent it to a tenant. If you're thinking of going this route, here's what to keep in mind.

Is Canada Headed For A U.S.-Style Housing Bust?

Atrina Kouroshnia | Posted 11.22.2014 | Canada British Columbia
Atrina Kouroshnia

How might plummeting home values impact Canadians? It's not entirely clear and that's frustrating for mortgage brokers and real estate insiders alike.

Should You Buy In A Remediated Building In B.C.?

Atrina Kouroshnia | Posted 10.26.2014 | Canada British Columbia
Atrina Kouroshnia

If you've been looking at B.C. real estate listings for any length of time, you've likely seen the phrase "remediated" at least once, especially if you're considering older construction.

How To Shave 5 Years off Your Mortgage

Atrina Kouroshnia | Posted 10.12.2014 | Canada British Columbia
Atrina Kouroshnia

Paying off a mortgage is especially important for anyone with a higher interest rate, or those who really value mortgage freedom.

John and Jane Doe: Can We Afford a Mortgage?

Sarah Twomey | Posted 10.03.2014 | Canada Business
Sarah Twomey

For the last ten years, John, Jill and the kids have been living in a rented townhouse. Their dream has always been to save enough for a good down payment towards a detached house close to transit. John thinks they're close to having 15 per cent down, but Jill still has some concerns and suggested that they sit down with a mortgage expert for some advice.

Will the Roof Collapse on Canada's Housing Market?

Murtaza Haider | Posted 09.30.2014 | Canada
Murtaza Haider

The concern about Canadian housing markets is largely driven by the higher rates of house price appreciation in Canada's large urban markets, such as Toronto, Vancouver, and Calgary. In the early eighties, the average housing prices in local housing markets were similar in magnitude to that of the overall Canadian average.

Before Your Debt Gets Out of Control, Make a Plan

Shaun Goolcharan | Posted 08.16.2014 | 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? | 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...