In 2018, the stress test was expanded to include buyers with more than a 20% down payment (those with uninsured mortgages). Since then, all Canadian home buyers applying…
Read more The Canadian mortgage stress test, explained“The stress test was introduced to add a margin of safety to ensure borrowers could make their payments if they faced a change in circumstances—such as if interest…
Read more The Canadian mortgage stress test, explainedFor those in that position, as well as those whose mortgages expire in the next 12 months, it’s best to go into the renewal process armed with knowledge…
Read more Renewing your mortgage? A guide for Canadians – MoneySenseIn the company’s fall economic outlook released Thursday, it forecasts the central bank’s interest rate will fall to 3.75% by the end of this year and a neutral…
Read more Deloitte Canada predicts more economic growth, benchmark rate below 3% in 2025 – MoneySenseHow do interest rates relate to affordability? In an effort to subdue runaway inflation, the Bank of Canada (BoC) has raised the benchmark interest rate several times over…
Read more What does the new Canadian Mortgage Charter mean for home owners? – MoneySense“Potential buyers may not have the cash they require to pay for an asset like a second home in part or in full,” says Maxine Crawford, a mortgage…
Read more How to use equity to buy a second home – MoneySenseAs an example, someone who considered themselves fortunate to secure a 5-year variable rate mortgage at 0.9% in early 2022 may have seen their interest rate soar to…
Read more Toronto housing bubble: Is it ready to pop? – MoneySenseMortgage payment calculator Understanding the long-term financial implications of a home mortgage, particularly the cumulative impact of interest, can be complicated. A mortgage payment calculator is an essential…
Read more Tools to calculate your mortgage payments and costs in Canada – MoneySenseDepending on your circumstances, refinancing your mortgage can be a smart financial choice. However, while refinancing can lead to substantial savings, it can also come with steep costs.…
Read more Mortgage refinance calculator – MoneySense
