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Canadian Mortgages Are Ballooning to Keep Up With House Prices
Since 2007, the average residential mortgage in Canada has surged 71%, placing even bigger strain on households.
Read moreRBC Concerned about New Mortgage Rules
Most of the time playing the mortgage and housing market game is like walking a tightrope – especially if you’re the policymaker that’s making the final decision. Give the line too much slack, and it’s going to collapse. Keep it too tight, and it will break. Jim Flaherty certainly knows this, and RBC seems to…
Read moreTimes have Changed for Mortgage Insurance
Oh how times are a’changing for mortgage insurance! It used to be that if you needed a mortgage and didn’t have enough of a down payment, you could get mortgage insurance fairly easily. You could get it from the Ottawa mortgage insurance Crown corporation, CMHC, or you could go to either of Canada’s other two…
Read moreCanadians Want to Pay off Their Mortgages!
We as Canadians take a lot of heat about the amount of debt we carry. Yes, our household debt levels are up dangerously high – almost as high as the U.S.’ before the crisis. And yes, we do continue to take on more debt. But while we might take on a lot, we also want…
Read moreTD, RBC First to Raise Mortgage Rates
The second mortgage war of the year in Canada is coming to an end. BMO’s offer is set to expire tomorrow and so far, two of the other major banks have already followed suit. While the cheap mortgages are still on offer at TD Bank and RBC until Thursday, after that the rates are going…
Read moreHome Prices are Increasing, but Slower than Before
The Canadian Real Estate Association has come out with some new stats that should quell any talk of a housing bubble, at least for a little while. The CREA has taken a survey of the five most active housing markets in Canada – the Greater Toronto Area, Greater Vancouver, the Fraser Valley, Calgary, and Greater…
Read moreING Latest Bank to Pull “Low Doc” Mortgages
ING Direct has not only been the bank that’s known to “save you money,” but recently it’s also been known as the bank to make mortgage offers that very few other lenders do. This time, the bank is in the news not for offering a certain kind of mortgage but for pulling “low doc” mortgages…
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