Real estate fraud is happening at an alarming rate in Canada, according to a recent report published in the Vancouver Sun. The report from consumer credit company Equifax uncovered roughly $400 million worth of mortgage fraud in Canada last year. And many experts believe that’s just the tip of the iceberg. These figures represent only frauds that Equifax was able … Read More
Should You Pay Off Debt or Invest in Your RRSP?
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
Renters Could Drive Increase in Canadian Homeownership
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
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
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