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For 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 – MoneySenseSpeaking at Global Risk Institute summit on Wednesday, Routledge said he was worried that the requirement by lenders to run the “OSFI stress test” is making Canadians feel…
Read more I want to switch mortgage lenders—do I have to pass the stress test again? – 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 – MoneySenseBut picking a fixed mortgage rate can be problematic if you decide to sell your house and are forced to break your mortgage contract in the middle of…
Read more What is porting a mortgage in Canada—and when should you do it? – MoneySenseBut if you have some flexibility around where to live, there are cities and neighbourhoods in Canada where homes can be had for less than seven figures—lots of…
Read more Where to buy a home for under $1 million in Canada – MoneySenseIt’s been a tough time for home owners (and first-time home buyers), but the Bank of Canada (BoC) has held interest rates steady since July 2023, and the…
Read more Fixed or variable mortgage rate: Which should you choose in 2024? – 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? – 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 – MoneySense
