A reverse mortgage is a home equity product that allows home owners aged 55 years and older to access up to 55 per cent of the value in their home. Home owners can choose to receive the money…
Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines will reduce how much you can afford…
The Office of the Superintendent of Financial Institutions (OSFI) is proposing stricter rules on uninsured mortgages that could have an even more profound effect on the housing market. Will house prices decrease? Will there be less competition?
There’s speculation the Bank of Canada may raise its key interest rate at its next scheduled announcement on July 12, due to comments Bank of Canada Governor Stephen Poloz recently made to the media about the conditions needed for higher rates…
Just two weeks after TD Canada Trust hiked their prime rate, RBC has announced they’re bumping up their fixed mortgage rates anywhere from 25 to 40 basis points. Read on to find out how much more this may cost you and why fixed rates are rising in the first place.
TD Canada Trust is the first bank to raise its prime rate for variable rate mortgages since new federal mortgage rules were introduced last month. So is this the beginning of a trend?
As expected, the Bank of Canada is holding the overnight lending rate at 0.5 per cent – where it’s been since July 2015. Read on for the Bank’s revised forecast for the Canadian economy.
Applying for a mortgage? Already own a home? The federal Liberals have announced mortgage changes that will have an impact on homebuyers and homeowners. Read on to find out what these are and how they will affect you.
No surprise this time around: The Bank of Canada is leaving the overnight lending rate at 0.5 per cent – where it has been since July of 2015. Read on to find out how this will impact fixed and variable rate mortgages.
If you’ve followed along since January, you’re now eight months into your debt free journey! But high interest could be holding you back from erasing all your debt before the curtain closes on 2016. Read on to find out what you can do to lower your interest payments and speed up your repayment timeline.