Articles
Why Refinanced Mortgages Are Always Uninsured
Discover why refinanced mortgages in Canada are always uninsured and the opportunities refinancing your mortgage provide you.
10 Shortest Ontario Commute Cities
A short commute to work really improves the quality of your life. Workers don't push for remote work if they can live in a community where the commute is short and pleasant. However, if your employer is in a major city, or worse yet, Toronto, and the demand is for you...
Getting a Second Mortgage
If you have a first mortgage, can you just go out and get a second mortgage? The short answer is not always. While it is possible to obtain a second mortgage if you already have a first mortgage, several factors must align for you to qualify. You cannot simply go and...
Ontario’s Worst Crime Cities
Economic conditions, law enforcement practices, and community involvement are just a few of the variables that can affect and fluctuate crime rates. It's also important to consider the type of crime (violent, property, etc.) when evaluating these statistics. However,...
Temporary Worker Mortgage Application
Temporary workers in Canada—those employed on a fixed-term contract, through an agency, or seasonally—often face additional challenges when applying for a mortgage. Because lenders prefer stable, long-term employment, temporary workers are seen as higher-risk...
Bank of Canada’s March 2025 Rate Decision
In its latest announcement, the Bank of Canada has reduced its target overnight interest rate to 2.75%, with the corresponding Bank Rate now at 3.00% and the deposit rate set at 2.70%. This strategic decision reflects the bank's proactive approach to managing an...
10 Factors Impacting Housing Supply
A complex interplay of various factors affects the supply of housing in Ontario. These factors can affect the availability, type, and affordability of housing in the province. Here are ten key factors impacting the supply of housing in Ontario: 1. Land Availability...
Using Foreign Funds for Down Payment
Owning property in Canada is an attractive prospect for many, from newcomers and investors to Canadian expatriates looking to return home. However, financing a mortgage with funds sourced from outside of Canada presents unique challenges. Lenders, banks, and...
Ontario’s Top Historical Cities
Ontario is rich in history and several communities are renowned for their historical value and prestige. These areas are often sought after for their unique character, architectural heritage, and cultural significance. Here are 10 Ontario communities notable for their...
What Kind of Employee Are You?
Employment in Canada is not a monolithic concept. It is a dynamic structure shaped by economic demands, industry standards, and government regulations. Whether someone is a salaried professional, a contract-based consultant, or a gig worker juggling multiple roles,...
10 Fastest Growing Ontario Cities
Due to factors like economic growth, population growth, and infrastructure expansion, several cities in Ontario are expanding quickly. The fastest-growing cities often attract new residents due to job opportunities, quality of life, and relatively affordable housing...
Getting Mortgage Documents Translated
In Canada, the mortgage application process is highly regulated, requiring strict compliance with financial and legal documentation standards. For borrowers whose mortgage application documents are in a language other than English or French, lenders demand certified...
10 Ontario Cities with Strong Property Value Appreciation
Several communities in Ontario have experienced strong property value appreciation over the years, and they are expected to continue this trajectory. Keep in mind that the future performance of real estate markets can vary depending on a variety of factors, such as...
Is Ontario’s 407ETR the World’s Most Expensive Highway?
Real Estate > Personal Finance > Mortgage The 407 ETR (Express Toll Route) in Ontario, Canada, is renowned for its cost, often considered one of, if not the most expensive toll roads in the world. If you ask a person in Ontario, they will tell you they think the...
10 Ways ‘Location’ Impacts Real Estate Prices
The adage "location, location, location" holds when determining real estate prices. The desirability of a property’s location is influenced by a multitude of factors, including proximity to employment centres, the quality of local schools, access to amenities such as...
10 Ways Supply and Demand Impact Real Estate Prices
The principles of supply and demand are fundamental in determining real estate prices. The balance between the number of buyers in the market (demand) and the availability of properties (supply) governs the real estate market, just like any other market. When demand...
Why So Much Documentation?
A mortgage is more than a simple loan—it’s a long-term financial commitment requiring meticulous documentation. Ensuring every piece of paperwork is in order accelerates approvals, improves financing terms, and minimizes stress during the home-buying process. Proper...
10 Reasons Real Estate is So Expensive
Real estate prices are influenced by a variety of factors, making it expensive in many places. This is by no means an exhaustive list, and the cost for different kinds of real estate in different places is always unique to that location. Further, in real estate,...
How Assets Support a Mortgage
Securing a mortgage in Canada has long been an income-driven process. Lenders scrutinize pay stubs, tax returns, and employment history to determine whether a borrower qualifies. However, in today’s evolving financial landscape, assets play an increasingly significant...
10 Ways Economic Conditions Impact Real Estate Prices
Economic conditions exert a profound influence on real estate prices, acting through various channels. Firstly, the overall health of the economy, indicated by factors such as GDP growth, employment rates, and consumer confidence, directly affects people's ability and...
The Housing Market and The Power of Lower Rates
Lower interest rates are crucial to reviving the housing market. Learn why lower rates are essential and how they can stimulate demand.
Canada Child Benefit and Your Mortgage
Raising a family in Canada comes with significant financial responsibilities, from childcare costs to daily household expenses. For many families, the Canada Child Benefit (CCB) serves as a crucial financial lifeline, providing tax-free monthly payments to support...
10 Ways Inflation Impact Real estate Prices
Inflation exerts a multifaceted influence on the real estate market, affecting everything from construction costs to investment strategies. Allow me to provide a comprehensive overview that explores the various ways in which inflation impacts real estate prices,...
Price of Commuting: The Daily Journey into Toronto
Real Estate > Personal Finance > Mortgage In the golden light of dawn, while much of Ontario still slumbers, thousands of commuters from suburbs like Whitby and Oakville embark on their daily pilgrimage to Toronto. This journey, often romanticized as a quest for...
10 Reasons Why Investment Demand Impacts Real Estate Prices
Investment demand plays a pivotal role in shaping real estate prices due to its substantial influence on market dynamics. Investors, both domestic and international, often view real estate as a lucrative asset class, leading to increased capital inflow into the...
Price of Commuting: Lost Time, Lost Life
Real Estate > Personal Finance > Mortgages In the bustling city of Toronto, like many other major cities around the world, the daily commute is an accepted part of working life, especially for those living in the suburbs. However, this seemingly mundane aspect...
10 Ways Interest Rates Impact Housing Prices
Interest rates are a fundamental determinant of real estate prices, primarily due to their direct impact on the cost of borrowing. Lower interest rates reduce the cost of mortgages, thereby enhancing the affordability of real estate for a broader segment of consumers....
What Does the Stress Test Prevent?
What could happen OSFI did not mandate the implementation of the stress test? If the Office of the Superintendent of Financial Institutions (OSFI) had not mandated the implementation of the mortgage stress test in Canada, several potential risks and consequences could...
Calculating Rental Income
Navigating the complexities of mortgage qualifications can be daunting, particularly when it involves accounting for rental income from investment properties. Understanding the different methods for calculating this income is crucial for both lenders and borrowers to...
Difference between the Economy and Markets
The stock market and the economy may appear to be closely interconnected, but are they truly? Let's unravel the intriguing dynamics and discover the stark differences. The Analogy of the Man and the Dog New York Trader Josh Brown uses the description of a man walking...
The Disappearing Office Space
Real Estate > Personal Finance > Mortgage In recent years, North American cities, particularly Toronto, have witnessed a significant shift in the commercial real estate landscape, marked by increasing vacancy rates in office buildings. This trend, initially...
Leveraging a Living Inheritance
A "living inheritance" is a financial strategy that has gained popularity among older generations looking to support their children's futures while still alive. This approach involves transferring wealth to children or grandchildren during the parents' or...
A New Beginning Through a Living Inheritance
In the quaint town of Cobourg, Ontario, nestled between rolling hills and sparkling waters, lived Tom and Elaine, a couple well into their retirement years. Their life was peaceful, filled with garden walks and afternoon tea sessions, but their hearts often wandered...
Mortgages Allowable Income Sources
Qualifying for a mortgage in Canada hinges on many factors, but none are as critical as income. Lenders scrutinize earnings to gauge an applicant’s financial stability and capacity to service debt. While salaried employment remains the gold standard, the modern...
Gifted Funds and Mortgages
In the ever-evolving landscape of Canadian real estate, rising home prices have made it increasingly challenging for many buyers to enter the market. As a result, gifted funds for down payments have become a significant enabler for many prospective homeowners,...
Experts Predict Canadian Dollar Fall
Discover why the Canadian dollar is expected to weaken against the American dollar in early 2024, and learn about the potential consequences for households and businesses in Canada. Stay informed about the changing currency landscape and make informed decisions.
Where You Get Your Mortgage
Where you get your mortgage can have a big impact on how much you have to pay in regular mortgage payments, how fast you can pay off your house, and what you need to do and have to qualify for. When asked, most Canadians think that 'the bank' is the only place they...
Featured Publications
Articles
- Extended Amortizations and Hypothetical Calculations
Office of the Superintendent of Financial Institutions (OSFI) - Minimum Qualifying Rate for Uninsured Mortgages
Office of the Superintendent of Financial Institutions (OSFI) - Residential Mortgage Underwriting Practices and Procedures
Office of the Superintendent of Financial Institutions (OSFI) - Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances Financial Consumer Agency of Canada
Book: “The Program”
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