Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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Canadian mortgage market – a report by CAAMP

June 2014 - total number of Canadian Home owners by mortgage type
Canadian Mortgage Market - Outlook CAAMP publishes a regular report on Canadian mortgage market. The report made an argument that the mortgage regulation changes made in 2012 were detrimental towards housing market. The report pointed out that growth of residential mortgage demand is slowing down year-over-year. AccordingRead more

Rate structure of lenders – a graphical guide for mortgage shoppers

In the confusing world of rates – how do you shop? To make it simple, the best way is to talk to a mortgage broker.

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Do you really need a pre-approval?

For many home buyers out there, shopping in a tight market is a very stressful and difficult task. To add to that if the buyer does not know the limit of his or her borrowing ability then it is like a blind date. You may end up

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Cashback mortgage – pros and cons

Cash-back mortgages in Canada are somewhat popular among borrowers. For some borrowers, extra cash in their hand after closing the deal is a good choice. Not everybody look for a cash-back mortgage, rather some look for the best interest rate. Regardless of what they are looking for

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Home buyers mortgage choices – in pictures

The result of a survey conducted by CIBC are presented here in charts. The overall home buyers preference may have nothing to do with individual situations. Each situation is different and should be treated on their own merits.

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Best Practices for a Mortgage Insurer – Introduced by OSFI

Almost two years ago, OSFI introduced the idea of Residential Mortgage Underwriting for the lenders. It promised that there will be one for the insurer too. Now it has delivered on that promise. In its new B-21 guideline it has outlined the expectations for prudent residential mortgage

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Mortgage defaults – remained stable for a while

Actual five years fixed mortgage rates offered by brokers

Apart from Alberta, numbers of mortgage defaults or payment misses have remained steady for last two years. Average Canadian mortgage arrear rate has stabilized close to 0.3%. Actual mortgage rate stayed almost flat during this period. That suggests a close correlation between the two – interest rate

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Whatever will happen to mortgage rates if house price fall

Mortgage rate and house price both are very much intertwined. Experts often argue about which one of the two influences the other. Actually it is impossible to say which of two things went down/up first or caused the other to surge/drop. So far, in last ten years

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CMHC and Genworth to raise mortgage default insurance premium

85% loan to value premium changes

Canada Housing and Mortgage Corporation (CMHC) has announced that it will raise the mortgage default insurance premium it charges the borrowers with small down payments (normally 5% to 20%). If you buy a home after May 1st and do not have more than 20% down payment then

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Mortgage for “work – permit / visa” holders – more choices are available

A Canadian Citizen or a Landed Immigrant (permanent resident) has more mortgage options than someone with work permit. Mortgages are easily accessible to persons with established ties with Canada than the ones who are on a business trip. Understandably the lenders offer fewer mortgage choices to the

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CPP is not enough to fund your post retirement mortgage

Majority of Canadians are getting more and more into debt. In this process they are missing some key points of retirement planning. The most important of those all is savings. Be it in the form of RRSP of TFSA or plain old savings account – we are

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Qualifying rate went down by 0.1 percent

The lenders in a recent rate reduction move – pulled the qualifying rate down by a tiny fraction – 0.1% – from its previous 5.34% to 5.24%. Does it really matter much? In one word no! – for borrowers who do not push the boundary of their

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