Frank Nuguid at The Mortgage Centre

Average Home Prices & Sales Volumes in Ontario in June 2020 (courtesy of Zoocasa)

Should You Pay Down Your Mortgage? (by Annalisa Esposito, Morning Star, 9 July, 2020) Being mortgage-free is a dream many people hold and rock-bottom interest rates might make it easier to achieve. But is it the best way to use your savings? ...Continue reading

The Average Price of a Toronto Home Hit an All-Time High in June (by Toronto Storeys) According to the latest info from the Toronto Regional Real Estate Board (TRREB), the average price of a Toronto home in June was $930,869 an all-time high that surpasses the previous record set three years ago. That previous record, set in April 2017, peaked at $920,791, before stricter rules for mortgages and foreign buyers temporarily cooled the market down. According to TRREB’s latest ...Continue reading

Are Changes to the Stress Test Qualifying Rate Coming? (by Steve Heubl, Mortgage Broker News January 29, 2020) The use of Canada’s benchmark rate in administering the mortgage stress test is currently under review, according to an official with the Office of the Superintendent of Financial Institutions (OSFI)....Continue reading

Federal budget includes first-time buyer incentives by Canadian Press 19 Mar 2019 OTTAWA _ On the eve of a federal election this fall, the Liberal government is looking to help more Canadians buy their first homes by picking up a portion of their mortgage costs and increasing the amount they can borrow from their retirement savings for a down payment....Continue reading