mortgage payments

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

Many first-time homebuyers have similar questions when it comes to mortgage rates and the steps to buy a house or property. One of the most common sources of confusion surrounds the difference between mortgage pre-qualification, pre-approval, … Read More

Canadians are carrying record amounts of debt. The household debt-to-income ratio rose to a record high of 174% in the second quarter of 2019, according to Statistics Canada. At the same time, Canadian households owed more … Read More

There’s one feature that some lenders offer with their mortgage: The option to skip a payment. While it could be helpful in times of financial duress, it comes with some consequences. Take a look at how … Read More

CIBC is one of the largest banks in Canada, which is why you probably have many family members and friends who have a mortgage through this lender. If you ask any of them whether you should … Read More

Rumour has it mortgage rates could be going up. The Bank of Canada (BoC) has dropped some hints a hike to the overnight rate (the main policy interest rate in Canada) could be coming. The overnight … Read More

BMO Bank of Montreal has long been considered one of the top banks in Canada and is often one of the first choices for homebuyers looking to secure a mortgage. But what’s it like actually obtaining … Read More

As one of the Big Five banks in Canada, Scotiabank is the first place many Canadian homebuyers turn when it comes to getting a mortgage. Whether it’s because they’ve done their banking with this institution for … Read More

Buying a home is a complicated process with many factors to consider. You have to decide on your budget, your ideal neighbourhood, how many bedrooms you’d like, whether you want a fixer upper or something move-in … Read More

Obtaining a mortgage is a big moment in the average homebuyer’s life, with many complex aspects to consider that we don’t encounter in day-to-day life. There’s the down payment, amortization period, payment frequency, and whether to … Read More