To fix your mortgage rate or not to fix? That is just one of the questions facing people looking for the best mortgage deal right now in an economy marked by the slings and arrows of inflation and climbing interest rates.

Whether it’s a new mortgage or a renewal, buyers and homeowners are filled with questions: What’s the best rate? Does locking in make sense while interest rates keep rising? If I lock in, for how long?

Canadians have seen interest rates rise considerably this year and those not on a fixed interest rate mortgage have seen their regular mortgage payments rise along with them.  All the talk in the media, and rightfully so, is about the rise in mortgage payments, but what often gets overlooked is the longer-term impact to your financial health and retirement savings.

We have all heard stories about mortgage payments rising by $1,000 per month, but what about the impact of higher interest rates to service a mortgage over its lifetime?

Here is a historical graph showing us that despite all of the recent rate increases, current mortgage rates are still comparatively low.

Canada’s mortgage stress test applies to anyone applying for or renewing a home loan through a federally regulated lender. 

And apparently nearly half of Canadians (according to a poll conducted by TD Bank) don’t understand what the test is—or who it affects. Here’s your primer on the mortgage stress test!  

With the many increases to Mortgage Rates recently, mortgage borrowers are finding they are qualifying for lower mortgage amounts than they were just one month ago. This is true even in the absence of any change to the rate used by the dreaded Mortgage Stress Test.

Original Article Source Credits:  Canadian Mortgage Trends, https://www.canadianmortgagetrends.com

Article Written By:  Steve Huebl

Original Article Posted on:  July 20, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/07/majority-of-canadian-buyers-borrowing-their-maximum-approved-mortgage/

Twenty-five or thirty years can sound like an impossibly long time to service a loan – and for many of us, it is. If you are looking to pay off your mortgage faster, here are some tried-and-true tactics to get you to financial freedom that much sooner!

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  NA

Original Article Posted on:  DECEMBER 23, 2020

Link to Original Article:  https://betterdwelling.com/flight-to-the-burbs-every-real-estate-market-in-ontario-is-outperforming-toronto/

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Kevin Carmichael

Original Article Posted on:  Dec 18, 2020

Link to Original Article:  https://financialpost.com/news/economy/bank-of-canada-governor-wants-to-avoid-housing-policy-mistakes-of-the-past

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Shelly Hagan

Original Article Posted on:  Nov 02, 2020

Link to Original Article:  https://financialpost.com/news/economy/the-only-thing-canadians-are-optimistic-about-right-now-is-the-housing-market

Original Article Source Credits:   CNBC, https://www.cnbc.com/

Article Written By:  Cory Stieg

Original Article Posted on:  October 27, 2020

Link to Original Article: https://www.cnbc.com/2020/10/27/does-buying-a-home-make-you-happier-psychology-of-home-ownership.html

Original Article Source Credits:   Move Smartly, https://www.movesmartly.com/

Article Written By:  David Larock

Original Article Posted on:  September 14, 2020

Link to Original Article:  https://www.movesmartly.com/articles/bank-of-canada-confirms-ultra-low-mortgage-rates-are-here-to-stay

Original Article Source Credits:   MorningStar, https://www.morningstar.ca/

Article Written By:   Vikram Barhat

Original Article Posted on:  October 19, 2020

Link to Original Article:  https://www.morningstar.ca/ca/news/206427/should-you-break-your-mortgage-for-a-lower-rate.aspx

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  October 7, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/10/latest-in-mortgage-news-september-another-blockbuster-month-for-gta-gva-real-estate/

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