Mortgages

When it comes to buying in Canada’s hot housing market, your first step (after saving for a down payment) should be to get pre-approved for a mortgage. When you get mortgage pre-approval, you’ll go through either … Read More

You probably heard the pitch when you applied for your mortgage: add mortgage life insurance for just a few extra dollars on your monthly payment. Lenders want you to sign up for this service. But is … Read More

Canada’s mortgage stress test makes a big difference to how much you can borrow. Here’s everything you need to know about the mortgage stress test.

As of June 1st, Canadians seeking an uninsured mortgage – aka mortgages with a down payment of at least 20% – will need to pass a stricter stress test and prove they can afford payments at … Read More

When your pre-construction condo is on its final leg of completion and the condo developer has given you the go-ahead to move in (even handing you the keys), it’s only natural to assume that you’ve now … Read More

Moving can get expensive fast which is why many people choose to DIY their move. A DIY move is a way to save money and gives you flexibility when choosing the date and time of your … Read More

According to Google, searches for “house for sale,” “mortgage calculators,” and “mortgage rates” are the highest they’ve been in five years.  Kitchener is one of the hot cities Canadians are searching out as a potential place … Read More

In an ideal world, you’ll have paid off all your debt and be completely out of the red before buying a home. But with credit card debt a reality for many (roughly 1 in 3 Canadians … Read More

The Bank of Canada announced today it’s keeping its overnight rate steady at a record-low 0.25 percent. While the central bank doesn’t directly set mortgage rates, its trendsetting rate does influence what Canadians pay on variable-rate … Read More

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usually, mortgages with a 20% down payment do … Read More