The Hidden Costs of Popular Mortgages
Four popular mortgage terms: the venerable five-year fixed, the conservative 10-year fixed, the open mortgage, and the full-featured mortgage with big pre-payment privileges, why people pick these terms and how statistics impact each term's total cost of
Attempting to understand the new mortgage rules
As new mortgage rules take effect this week that make stress-testing mandatory for all insured mortgages, I’m left scratching my head. The new rule requires a stress-test for all insured mortgages, i.e. it will affect any prospective buyer with less than
Have you ever noticed how much prime real estate banks occupy?
The Canada Mortgage and Housing Corporation (CMHC) released its annual Mortgage Consumer Survey this week, and as in just about any other business, one finding is that we’re increasingly shopping for mortgages online. It’s no longer even a trend —
3 reasons why the mortgage stress test should not change (for now)
The mortgage stress test has been a hot topic since it was first introduced in 2018. Some in the real estate industry believe the policy has done its job and it’s time to revise it, and some believe it should remain the way it is.
This London, England company helps you buy your first home without a mortgage
There will soon be a new way for first-time buyers to step onto the homeownership ladder, but it’s based in London, England. If there’s success there, perhaps we’ll see this type of homebuying make its way to Canada.
Mortgage Mania
Whether you're buying a new or resale home, make sure you explore a number of mortgage options before choosing the one that's right for you.
CMHC president defends the mortgage stress test
Is it true that the mortgage stress test doesn’t really have unintended consequences? That’s what Evan Siddall, the president and CEO of Canada Mortgage and Housing Corporation, believes.
Do We Need More Changes to the Mortgage Rules?
The Financial Post last month reported that our representatives in Ottawa were considering increasing the amount of down payment required to obtain a mortgage, citing sources that claimed further measures to cool the house market, including restrictions
Learn More About Mortgage Pre-approval
A pre-approval might be best defined as your license to go house shopping. In essence there's no sense in finding the home of your dreams if you're not already 110% sure you can afford if comfortably. There's also no sense in spending your valuable time
Could your mortgage pass the (stress) test?
The Office of the Superintendent of Financial Institutions Canada (OSFI) yesterday published the final version of its Residential Mortgage Underwriting Practices and Procedures, which will come into effect January 1, 2018. As it applies to all federally
