Should You Pay Off Debt or Invest in Your RRSP?

EditorAgricultural Mortgages, Commercial Mortgages, Financial Tips, General Interest, Mortgage Down Payment, Mortgage Term, Mortgage Types, Residential Mortgages

With the RRSP deadline looming, many Canadians are trying to make sense of their investment options. Personal debt levels in Canada have hit record highs, most of us don’t have a pension to fall back on and our retirement savings are far from adequate. Which leads us to the perennial problem: Should Canadian’s focus on paying off their mortgage and … Read More

Taking a Closer Look at the Canadian Housing Economy

EditorAbout Mortgage Brokers, Mortgage News, Real Estate Advice, Residential Mortgages

Just how important is the housing market to the Canadian economy? According to a recent report by Willing Dunning, Chief Economist for the Canadian Association of Accredited Mortgage Professionals, the Canadian housing market accounts for nearly 8% of total Canadian employment. That’s nearly 1.35 million direct and indirect jobs. The report also shows that the mortgage industry plays a particularly … Read More

Renters Could Drive Increase in Canadian Homeownership

EditorAbout Mortgage Brokers, Agricultural Mortgages, Commercial Mortgages, FamilyLending.ca, First Time Home Owner, General Interest, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

According to a recent study conducted by TNS Canada, the nation’s housing market is expecting to see increased activity within the next two years. The online study, which was commissioned by TMG The Mortgage Group Canada, discovered that just under one third of Canadian renters are planning to buy real estate within the next two years. That amounts to a potential increase … Read More

“Price War” Prompts TD and RBC to Up Rates

EditorAbout Mortgage Brokers, FamilyLending.ca, General Interest, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

Canadian mortgage rates are on the rise again, reportedly thanks to “price-cutting” by some of the nation’s top banks. After briefly offering record-low rates of 2.99% on a 4-year fixed mortgage, both RBC and TD have raised rates by 40 basis points. The move comes rather unexpectedly; when the Royal Bank of Canada announced it was dropping their rates on … Read More

Understanding Canadian Covered Bonds

EditorGeneral Interest, Mortgage News, Mortgage Term, Mortgage Types

Covered bonds have long been a source of cost-efficient and secure financing for lenders. A staple of European financing for nearly 200 years, covered bonds first made their way onto the Canadian banking scene in 2007. Since then, Canadian covered bonds have helped to lower mortgage rates (indirectly) and have provided borrowers with additional financing options. So just what are these bonds … Read More