Learning Centre
New Mortgage Rules and stress test introduced for uninsured mortgages
New Mortgage Rules and stress test introduced for uninsured mortgages New OSFI rules for mortgages were introduced in late 2017, which will affect borrowers with down payments of 20% and over. [sharify] In late 2017 Canada’s main banking regulator released the much...
Bank of Canada increases its posted rate
Bank of Canada increases its benchmark rate All six big Canadian banks raised their rates in the past weeks. Find out how it can affect you. [sharify] The Central Bank’s five-year mortgage rate jumped from 5.14% to 5.34% last week. All six big Canadian banks raised...
How to become a home owner in 2018: Everything you need to know
How to become a home owner in 2018: Everything you need to know Buying a home in 2018 can feel a lot like an obstacle course especially if it's your first time. [sharify] It’s not easy to become a homeowner in 2018. At least that's what it seems like with everything...
How to save thousands on your Mortgage renewal
How to save thousands of dollars on your Mortgage renewal Did you know that many Canadians lose thousands of dollars on mortgage renewal, simply by not asking for a better rate? [sharify] A Manulife survey from several years back has found that almost two out of three...
Stress test impact on Canadians
Stress test impact on Canadians What does stress test really mean for Canadian home buyers? [sharify] Mortgage Professionals Canada have recently released a study meant to estimate the usefulness, or harm, of stress test policy. MPC looked at the percentage of home...
Do you need an emergency fund?
Do you need an emergency fund? Rather than saving for an abstract emergency, you should target specific, easily identifiable expenses. [sharify] Finance experts have been telling the general public for decades that everyone needs an emergency fund to be able to save...
Canadians don’t shop around for the best mortgage rate
Canadians don't shop around for the best mortgage rate Canadians were least interested in finding the best mortgage rate, according to a survey. [sharify] As a home buyer, would you readily accept the mortgage rate offered by the bank? Would you...