How Does the New Federal Budget Benefit First Time Home Buyers?
With the recent release of the 2019 federal budget, many Canadian’s were surprised to find out that the liberal government is making it easier for homeowners to purchase their first…
Your mortgage is about to get more expensive
The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s…
Jim Flaherty Receptive to the idea of ending CMHC
The International Monetary Fund recently suggested that Canada should consider winding down government backing of mortgages — and Finance Minister Jim Flaherty is sounding receptive to the idea. Ending or…
Thirty-year Mortgages
Canada’s banking regulator is still monitoring 30-year mortgages, the head of Canada’s financial regulator told a conference of mortgage brokers in Toronto on Monday. In recent years there has been…
Is refinancing right for you?
There are numerous reasons why homeowners choose to refinance their mortgages - everything from debt consolidation to freeing up money for their child's education to using their home equity to…
Reduce mortgage penalties
A few quick tips to reduce mortgage penalties. You bought your house a few years ago at an interest rate of 5%. Now everywhere you look banks and credit unions…
Why no rate hike means variable mortgages are safe again
A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough…
NO HOUSING BUBBLE
Finance Minister Jim Flaherty said he isn’t planning new measures to restrain the country’s housing market because his past four rounds of action have already worked to avoid a bubble.…
Flaherty moves to tighten CMHC supervision
Ottawa moved to bring the Canada Mortgage and Housing Corporation under the purview of the country's top financial regulator Thursday. Finance Minister Jim Flaherty outlined the proposed changes to Canada's…
Lender offers investor new Home Equity Lines of Credit
ING will move this month to register all new mortgages as collateral charge, following on the heels of TD and some other lenders. The change is set to take…