Category: Uncategorized

Your mortgage rate isn’t random—it’s shaped by economic forces, lenders’ costs, and risk factors.
Lenders borrow money too—your rate mostly depends on what it costs them to borrow.

Bond yields (~3%) expected stable, directly influencing fixed mortgage pricing.

By mid‑2025 overnight rate may drift between 2–3% range.

Canadian mortgages have amortizations up to 30 years, with typical terms lasting five years.
Interest rates can be fixed or variable; your rate depends on your financial risk profile.
Improving your credit score and income helps secure lower interest rates and better terms.
Closed mortgages limit early payments, while open terms allow flexibility but charge higher rates.
Approval depends on credit, income, down payment, and debt; 5% minimum down payment required.

Mortgages are secured loans specifically used to purchase or refinance Real Estate properties.

Personal loans can be secured or unsecured and cover expenses like cars, education, or vacations.

Mortgages require down payments, offer lower interest rates, and have longer repayment terms than most loans.

Loans range from $100 to tens of thousands; mortgages usually start at hundreds of thousands.

Mortgages include fixed, variable, open, closed, and hybrid options with terms up to 30 years.

Compare lenders by researching rates, prepayment options, penalties, and customer service responsiveness.

Use online reviews and forums to understand real borrower experiences beyond promotional claims.

Ask thorough questions to judge lender transparency and support during the mortgage process.

Mortgage brokers simplify comparisons and may access lenders or deals not available directly.

A lenders have strict criteria; B and private lenders suit those with credit or income challenges.

The mortgage lending market is projected to grow $27.5T by 2031.
CAGR of 9.5% driven by digital and tech adoption.

Reverse mortgages now serve Canadians 55+ as mainstream, flexible, tax-free retirement income tools.
Homeowners can access up to 55% equity, no monthly payments, and full spending control.

Mortgage refinancing replaces your current loan with a new one, possibly at a lower interest rate.
You can borrow up to 80% of your home’s value, minus your existing mortgage balance.