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Category Archives: Mortgage Strategies
What You Need to Know About Your Mortgage During COVID-19
Mortgage Renewals: Resources & Repercussions Lenders will always offer mortgage renewal terms as long as you have not had a late payment on your mortgage during your term. If you have contacted your lender and requested a mortgage payment deferral, … Continue reading
Posted in General, Mortgage Strategies
Tagged mortgage COVID-19, skip mortgage payment
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Mortgage News That Will Put a Spring in Your Step
At Last! New Qualifying Stress Test Rate for Insured Mortgages… On April 6, 2020, the federal government will be changing the benchmark qualifying rate used for Canada’s insured mortgage stress test. The change means borrowers with insured mortgages (typically those … Continue reading
Millennials and Mortgages…
Why do Millennials believe that homeownership may be out of reach? A KPMG survey says Millennials believe it’s a combination of (a) rising house prices, (b) high levels of personal debt, and (c) annual incomes that are just a fraction … Continue reading
First-Time Home Buyers: What Boomers Got vs. What Millennials Are Getting
The More Things Change, the more they stay the same! This is fascinating! To compare what Millennials are able to afford now with what Baby Boomers could afford when they bought their first homes, HuffPost Canada built profiles of the … Continue reading
Mortgage News That’s Clear as Mud and Crystal Clear!
Ah August… it’s a time to sit back, relax and get caught up on all the important mortgage news of the day, right? August is also a month full of juxtapositions. Some of us are taking time off and going … Continue reading
When Is The Right Time To Buy a Home?
The media buzz has died down on the government’s new First-Time Home Buyers Incentive since being announced in the Liberal Government’s March Budget. Why? Because specific details have yet to be released. This unsettled situation has left home buyers in … Continue reading
Are You Stressed Out by Mortgage Stress Tests?
Considered a “one size fits all” tool, the Mortgage Stress Test affects all homeowners alike, regardless of whether you are a first-time home buyer or homeowner preparing to renew* or refinance their mortgage. *Homeowners renewing their mortgage financing who fail … Continue reading
What’s In Store for 2019: Interest Rates and Real Estate
When is a Good Time to Buy a Home? According to journalist Steve Huebl of Canadian Mortgage Trends, “We’re about to turn the page on what was a challenging year for the mortgage and housing markets. But so far 2019 … Continue reading
Exciting Mortgage News for Self-Employed Canadians
A Common Sense Approach to Lending Finally there’s some relief for the self-employed related to mortgage financing! In 2010, 2.7 million Canadians were self-employed. That number has continued to skyrocket thanks in part to the precarious employment environment and workers … Continue reading
WARNING: You May (or May Not) Want to Try This at Home
How far would you go to help your children? As parents, we all want to help our children succeed in life. But, would you be willing to go to the extreme of setting up a reverse mortgage on your own … Continue reading