Renewal

When you take out a mortgage, you’ll sign a contract with your lender that outlines the specific features of your mortgage, such as the interest rate you’ll pay, whether it’s open or closed, and any additional perks such as the ability to make accelerated payments, and porting your mortgage.

The Canadian mortgage stress test has made qualifying for a mortgage renewal harder. Here’s what you need to know about qualifying for a renewal in 2019.

A reader asks: If I signed a 35-year CMHC-insured mortgage five years ago, and now I need to renew, what are my options and how am I affected by the new mortgage rules? This is a … Read More

Homes less affordable, but Canadians keep buying nonetheless – Yahoo! Finance Canada RBC’s housing affordability index changed course in the second quarter of 2013, and saw both bungalows and two-story homes become less affordable. The affordability index … Read More

According to a report released by Manulife, more than three quarters of respondents indicated that becoming debt-free is a top priority. Currently, Canadian consumer debt is at an all-time high and mortgage debt represents most of … Read More