New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle / Lifestyle News / Loans / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Your Budget

New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage

In 2018, new Ontario mortgage applicants likely won’t be able to afford the same home, as stricter mortgage rules come into place. And while those with a fixed rate mortgage are not impacted by interest rate increases implemented by the Bank of Canada, their affordability will be affected as well. For example… Continue reading »

History Making Canadian Interest Rates
Economic News / Mortgage News / Mortgages

History Making Canadian Interest Rates

For a while now we’ve been reading headlines about how interest rates are at “historic lows.” Which is great news for anyone with a variable-rate mortgage, line of credit debt, or who is looking to negotiate for things like car loans or fixed-rate mortgages. But what’s the other extreme? How high have – and could – interest rates go, and what would it mean to your savings if they did?
Continue reading »

What are the Banks’ Posted Rates for?

What are the Banks’ Posted Rates for?

Only the most naïve customer would pay the “posted” rate for their mortgage. (You didn’t pay the posted rate…did you?!?). Whether you use a third-party mortgage broker, or simply walked into your nearest bank branch and spoke with their mortgage specialist, you almost certainly were offered a discount off the posted rate. So why do financial institutions bother having these rates? Continue reading »