New data from Equifax reveals that delinquency rates in Manitoba have surged nearly 30% in 2023 compared to last year. Learn about the financial challenges Manitobans are facing, from increasing mortgage payments to managing credit card debt.

Original Article Source Credits:   Loans Canada , https://loanscanada.ca/

Article Written By:  BRYAN DALY

Original Article Posted on:  NA

Link to Original Article:  https://loanscanada.ca/mortgage/how-to-borrow-using-your-home-equity/

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

Article Written By:  Ross Taylor

Original Article Posted on:  April 27, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/04/a-pre-approval-does-not-guarantee-a-mortgage-approval

If you’re planning on moving into a beautiful new home, then working with a mortgage broker (instead of a bank employee) will ensure that you can receive the most up to date and unbiased information. 

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

Article Written By: Steve Huebl

Original Article Posted on: 15th January 2021

Link to Original Article: https://www.canadianmortgagetrends.com/2021/01/december-caps-off-blockbuster-year-for-canadian-housing/

With tighter restrictions and changing lender rules, qualifying for a mortgage is now much more difficult than ever before. For that reason, it is imperative to hire a qualified mortgage broker to educate, support, and guide you forward. They will assess the right path for your needs, help you deal with unexpected obstacles, negotiate the best deal for you, and offer several other benefits. 

I’m Laurie Boudreau, a Mortgage Broker in Winnipeg, MB.

I look forward to sharing my story. I hope that you will enjoy getting to know me better.

Following the announcement of CMHC’s new mortgage rules last week, Canada’s other two mortgage insurers, Genworth Canada and Canada Guaranty, confirmed Monday they will not be following CMHC’s lead.

A pandemic financial hardship story has revealed the expensive trap built into mortgages offered by big banks.

Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week. Both RBC and BMO cut a number of their posted mortgage rates this week, which should cause the mortgage stress test to fall from 5.04% to 4.99%, according to RateSpy.com. “It’ll mark the first time since January 2018 (when OSFI’s stress test began) that this benchmark rate has been under 5%,” the site noted. “And, if one more bank matches BMO’s and RBC’s 4.94%, it could drop another 5 basis points.” Granted, the rate change will be negligible for most buyers trying…

Mortgages for New Canadians with less than 20% downpayment

Sales and listings in some of Canada’s biggest housing markets have slowed dramatically over the past few weeks as social distancing measures to combat the spread of COVID-19 have taken hold, putting an end to any hopes of a strong spring real estate season.

A second surprise rate-cut this month from Canada’s central bank, has mortgage experts reluctant to predict what is in store for consumers, who are reeling from lost income in the COVID-19 pandemic.

What’s best for you and your family in the months ahead may not be good for your credit score. 

Fears over the COVID-19 pandemic and plummeting oil prices have caused mortgage rates to plummet to multi-year lows over the past couple of weeks.

But now some lenders are actually starting to raise rates.

For many Canadians, their home is the most important investment they will make in their lifetime. That is why the Government of Canada has introduced measures to help more Canadians achieve their housing needs while also taking measured actions to contain risks in the housing market. A stable and healthy housing market is part

These three consumers looked up their credit score on four different websites and each got four different results. (Jonathan Stainton/CBC)

Whether through ads or our own experiences dealing with banks and other lenders, Canadians are frequently reminded of the power of a single number, a credit score, in determining their financial options.

That slightly mysterious number can determine whether you're able to secure a loan and how much extra it will cost to pay it back.

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