Mortgage Blog
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Category: Mortgages (59 posts)
Fixed vs Variable Rate Mortgages - FACT vs Fiction
June 28, 2023 | Posted by: Calum Ross
When the prime rate is higher than fixed rates, it means that the variable mortgage rates are higher than the fixed mortgage rates. The prime rate is a benchmark interest rate that banks use to set th ...
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Some great tips to help you save for a home
June 13, 2023 | Posted by: Calum Ross
A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for a ...
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Strategies for Speeding Up Mortgage Repayment
June 3, 2023 | Posted by: Calum Ross
Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a f ...
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First-Time Home Buyer Budgeting: What You Need to Know
April 20, 2023 | Posted by: Calum Ross
As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ...
read moreHow to Stop Mortgage Payments During COVID 19
March 18, 2020 | Posted by: Calum Ross
How to Stop Mortgage Payments During COVID 19 (Corona Virus Crisis) To proactively ward off damage please note that there is in fact federal level support for this matter and please know that you c ...
read moreWhy a Falling US Stock Market Lowers US and Canadian Mortgage Rates….
February 26, 2020 | Posted by: Calum Ross
Typically, when stock markets decline, we also see a decrease in mortgage rates (and vice versa), and many ask the question, “Why does this happen?”. The key thing to keep in mind for mo ...
read more3 Ways a Mortgage Broker Can Help You
February 5, 2020 | Posted by: Calum Ross
As a Toronto mortgage broker, I know how stressful it can be going through the mortgage and house buying process. Working with a good mortgage broker can be a lifeline during this time with several ...
read moreIs Paying of Your Mortgage Bad for Your Net Worth? Things that make you stop and think….
November 27, 2019 | Posted by: Calum Ross
RRSP/Investing vs Mortgage Pay Down In a society where financial planning education and free financial resources are as readily available as fast food, it is difficult to believe that most people d ...
read moreSave Money by Converting Your Secured Lines of Credit into a Mortgage
July 4, 2019 | Posted by: Calum Ross
Are you real estate rich and liquid capital-poor? It’s a situation far too many homeowners and real estate find themselves in these days. Everything you do when it comes to building your wealt ...
read moreWhy Paying off Your Mortgage May Be Bad for Your Net Worth
June 26, 2019 | Posted by: Calum Ross
INVESTING VERSUS MORTGAGE REDUCTION… HERE IS HOW TO DO THE MATH In a society where financial planning education and free financial resources are as readily available as fast food, it is unfo ...
read moreFixed vs Variable Mortgage Decision… here is how to do the math!
January 30, 2019 | Posted by: Calum Ross
Year over year perhaps the most contested issue in the mortgage market is the age old decision of choosing between fixed and variable rate mortgage. Hundreds of thousands of dollars of personal financ ...
read moreHow to Protect Your Payments and Monthly Cash Flow with Today’s Rising Mortgage Rates
December 19, 2018 | Posted by: Calum Ross
What you will learn in this article: 1) How mortgage rates work;2) What is happening to mortgage rates now; and3) How to protect yourself from higher rates and tighter mortgage lending now As we a ...
read moreHow are mortgage rates are determined?
December 4, 2018 | Posted by: Calum Ross
Want to buy a home? Chances are you’re going to need a mortgage (or you’re going to get a mortgage even if you don’t need one simply because you understand the power of leverage and ...
read moreHow Mortgage Rates Work – Fixed vs Variable
November 28, 2018 | Posted by: Calum Ross
Want to buy a home? Chances are you’re going to need a mortgage (or you’re going to get a mortgage even if you don’t need one simply because you understand the importance of having ...
read moreWho pays mortgage broker fees?
November 21, 2018 | Posted by: Calum Ross
Once upon a time, we all believed that our friendly, neighbourhood bank advisor or financial planner worked for free. But like the myth of a flat Earth or the notion that retiring is easy, virtually n ...
read moreHow to make a Canadian mortgage tax deductible
November 7, 2018 | Posted by: Calum Ross
There are a lot of advantages to owning a principal residence in Canada. Property is an excellent hedge against inflation, it offers an opportunity to earn revenue from rentals (allowing the asset to ...
read moreHow to make your Canadian Mortgage Interest Tax Deductible
November 7, 2018 | Posted by: Calum Ross
Here in Canada, we don’t get to write off home mortgage interest on our personal residences they do in the United States without formal planning. Many Canadians have to pay every dollar of inter ...
read moreInvestors: Beware of Syndicated Mortgages!
October 31, 2018 | Posted by: Calum Ross
I have been asked by hundreds of investment advisors, portfolio managers, mortgage professionals and clients my perspective on the syndicated mortgages as a whole. Here is my most simplified opinion ...
read moreThe Advantages and Disadvantages of Buying a New Home vs an Existing Home in Toronto, ON
January 3, 2018 | Posted by: Calum Ross
If you’re planning on investing in real estate, then you’re going to have two main options: to buy an existing home or buy a new home in Toronto, ON. An existing home is a house that has b ...
read moreVictory Lap Retirement – A tribute to the new retirement model
December 7, 2017 | Posted by: Calum Ross
I recently took the time to sit down and enjoy my second Jonathan Chevreau book, “The Victory Lap Retirement” which addresses a topic covered in my own book “The Real Estate Retireme ...
read moreRESP – The Tax Sheltered Education Plan You Shouldn’t Say No To!
December 7, 2017 | Posted by: Calum Ross
Isn’t it nice when you go to your bank to deposit a cheque and they hand you $500 just as a thank you having an account with them? No? That’s never happened to you? Strange. Then you mus ...
read more6 Simple Steps to Having a Great Financial Plan
March 22, 2017 | Posted by: Calum Ross
Everyone knows what a wealth advisor does, but do they really? Of course a wealth advisor helps you with financial planning and to meet your wealth objectives but we’ll cover in this article t ...
read more4 Financial Risk Factors & Your Risk Tolerance
March 15, 2017 | Posted by: Calum Ross
An age old question in investment suitability is “how much risk do I take?” and it’s a key consideration in your investment activities. Naturally changes in life circumstances may ...
read moreThe Basis of the Mortgage Rates (How They Work)
March 1, 2017 | Posted by: Calum Ross
As we all know, real estate financing plays an integral role in the affordability of real estate to most Canadians. In fact, every 1% increase in residential mortgage rates literally ends the dream ...
read moreYou Must Consider These 6 Financial Planning Objectives
January 27, 2017 | Posted by: Calum Ross
When creating a financial plan, and making any investments you need to be clear on your objectives. To be most effective the process must start with some self-reflection which is often easier said tha ...
read more7 Personal Finance Trends You Can Exploit
January 10, 2017 | Posted by: Calum Ross
Key trends in the world of personal finance today require a shift in mindset for most Canadians to maximize their short and long-term financial success. These trends are making the concept of financia ...
read moreThe Lesser Known Specialist You Need On Your Financial Planning Team
January 5, 2017 | Posted by: Calum Ross
A New Year is considered a fresh start to many, so what better time to give some attention to your finances if you have been neglecting them or let them become a little disorganized? There is a less ...
read moreThe Ethics of Financial Advisory: What’s Behind the Curtain?
January 1, 2017 | Posted by: Calum Ross
It’s foolish to expect that someone else is going to care about your money more than you do, so rather than blindly trust a so-called expert to handle your wealth – make sure you understan ...
read moreThe Basis of the Mortgage Market
December 20, 2016 | Posted by: Calum Ross
As we all know, real estate financing plays an integral role in the affordability of real estate to most Canadians. In fact, every 1% increase in residential mortgage rates literally ends the dream ...
read moreBorrowing to Invest – Part 3 of 3
December 13, 2016 | Posted by: Calum Ross
In part one of this three-part series we introduced the topic and ways to borrow to invest. In part two we outlined some of the key considerations when borrowing to invest, and now in part three we wi ...
read moreBorrowing to Invest – Part 2 of 3
November 30, 2016 | Posted by: Calum Ross
While borrowing to invest is a solid longer term strategy for people who are behind on their savings or who are net worth driven – I want to stress that it does have risks because returns are ne ...
read more3 Reasons to Complete Your Mortgage Before Year End
November 23, 2016 | Posted by: Calum Ross
As 2016 draws to a close, there is still time to complete your mortgage before year end and take advantage of today’s historically low (but rising) rates. With holiday parties and the busyness ...
read moreWhy a Rising US Stock Market Impacts Canadian Mortgage Rates?
November 17, 2016 | Posted by: Calum Ross
Typically, when we see stock markets rallying up we also see bond yields go down, and many ask the question “why does this happen?”. What’s important to keep in mind as mortgage cons ...
read moreWhy Investment Property Mortgage Interest Rates Will Rise – Even if Mortgage Rates Stay Flat
November 10, 2016 | Posted by: Calum Ross
With new mortgage rules in effect and regulators closely monitoring credit policy in Canada, there has been much conversation about the impact on real estate prices and whether the changes will slow t ...
read moreBorrowing to Invest – Part 1 of 3
August 24, 2016 | Posted by: Calum Ross
Borrowing to invest (otherwise known as financial leverage) is a personal finance strategy where someone borrows funds for investment purposes. Due to the uncertainty of investment returns and the fac ...
read more5 Key differences between TFSAs and RRSPs (and how to use them to save money)
August 10, 2016 | Posted by: Calum Ross
1. RRSP contributions are tax deductible. TFSA contributions are not tax deductible. With a TFSA, you can’t deduct your contribution on your tax return. This means that the money you put into a ...
read moreFive Key Things to Consider When Borrowing to Invest
July 6, 2016 | Posted by: Calum Ross
With interest rates at near all time lows and a number of the global investment and real estate markets showing strong return numbers – borrowing to invest has never been more popular. Using hom ...
read moreWhy Carrying a Large Home Equity Credit Line …. Makes No Sense!!!
January 16, 2016 | Posted by: Calum Ross
It looks like the low interest rate environment is here to stay for the foreseeable future. The sad reality is Canada’s economy just isn’t recovering from the sudden drop in oil prices a ...
read moreHelp Us Give 5 Families a Gift of $1,000 This Holiday Season
December 2, 2015 | Posted by: Calum Ross
Calum Ross Mortgage Cares – Our 2015 Using Money to Buy Happiness Program See contest rules at bottom of post: Over the last two years I have put out an annual letter – my own form of &l ...
read moreWhy US Fed Rate Hike Means Higher Canadian Mortgage Rates
November 23, 2015 | Posted by: Calum Ross
It always amazes me just how quickly Canadian consumers forget how dependent the Canadian economy is on the US economy. Simply put… the Canada-US trade relationship is one of the single biggest ...
read moreUsing Your Home Equity to Lower Monthly Payments (aka Debt Consolidation)
October 27, 2015 | Posted by: Calum Ross
Did you know that if you have any debt other than a mortgage debt it is very likely at a higher interest rate than secured mortgage borrowing? In fact, even if you have lots of extra cash flow and pri ...
read moreWhy Big Banks Fixed Mortgage Rates = Huge Mortgage Penalties
September 22, 2015 | Posted by: Calum Ross
There’s never been a better time to own a home. Homeowners are enjoying record low mortgage rates. It’s not that hard to find a mortgage rate below 3 percent on a 5-year mortgage. While lo ...
read moreCMHC Secondary Suite Program Helps R/E Investors & Home-Buyers Qualify for Mortgages
September 15, 2015 | Posted by: Calum Ross
The Actual ‘Inside Scoop’ on CMHC Secondary Suites – And what it means to investors and home buyers! On July 23rd of 2015, CMHC announced changes to its policies regarding the trea ...
read moreLimiting Foreign Ownership of Canadian Real Estate… is Just Crazy!
August 19, 2015 | Posted by: Calum Ross
This entry was posted in Investing In Real Estate, Mortgage Articles, Real Estate Investing and tagged Canadian real estate, Foreign ownership on August 19, 2015 by CR. Investing In Real Estate, Mortg ...
read moreCMHC Second Suite Program – Relaxed Rules for Rental Income on Mortgage Applications
August 4, 2015 | Posted by: Calum Ross
Buying a decent-sized property in Canada’s most expensive housing markets can be tough, even for the affluent. Home prices in Toronto and Vancouver have been heading upward with no end in sight. ...
read moreWhy borrowing to invest makes sense right now!
July 28, 2015 | Posted by: Calum Ross
If you thought interest rates couldn’t get any lower, you’d be wrong (for the record – I was one of them). With the Bank of Canada cutting the overnight lending rate for the second t ...
read moreDismal GDP Numbers: What They Mean for Homebuyers
June 2, 2015 | Posted by: Calum Ross
Statistics Canada released its latest GDP numbers. To say they aren’t pretty would be the understatement of the century. The Canadian economy shrank by 0.6 percent in the first quarter of 2015. ...
read moreHow to Pay Off Debts Fast
May 20, 2015 | Posted by: Calum Ross
Are you up to your ears in debt? If you’re financially disciplined and have a plan, there are ways to pay off your debt sooner. By only paying the minimum on your outstanding debt, especially cr ...
read moreThe Impact of Qualifying Rate vs. Discount Rate – Why 5 Year Fixed Gets You Much More Money
May 13, 2015 | Posted by: Calum Ross
With the spring housing market in full bloom and summer just around the corner, it’s the perfect time to buy a home. Despite skyrocketing real estate prices in the most sought-after housing mark ...
read moreUsing Your RRSP and TFSA to Save Towards a Home Purchase
May 5, 2015 | Posted by: Calum Ross
While the RRSP has long been the preferred way to save towards buying a home, the introduction of the TFSA in 2009 changed that. The TFSA offers another great way to save towards the purchase of a hom ...
read moreWhy Your Debt Service Ratios Matter
April 8, 2015 | Posted by: Calum Ross
For most families, a mortgage is the largest amount of debt you’ll incur in your lifetime. With home prices reaching the stratosphere in many housing markets nationwide, homebuyers are taking on ...
read moreWhy Now May Be the Best Time to Refinance in Canadian History
April 1, 2015 | Posted by: Calum Ross
After the winter that seemed like it would never end, spring is finally here! Spring is the perfect time to enjoy the outdoors, spring clean (sorry, I couldn’t resist!) and of course, buy a home ...
read moreHousehold Debt to Disposable Income Ratio at New High… but that’s not the real story!
March 17, 2015 | Posted by: Calum Ross
Household debt is once again making news headlines for all the wrong reasons. The household debt to disposable income ratio reached a record high of 163.3 percent in the fourth quarter of 2014, accord ...
read moreShould You Pay Down Your Mortgage Early? Setting Financial Priorities
March 4, 2015 | Posted by: Calum Ross
The RRSP deadline has come and gone for another year. Did you join the frenzy of last-minute savers by contributing to your RRSP this year? For the typical Canadian family Canadian, it can be difficul ...
read moreWhy the Bank’s Posted Mortgage Rate Matters (even when practically no one pays it)
February 25, 2015 | Posted by: Calum Ross
Homeowners are a lot savvier about mortgage rates these days. When it comes to signing up for a mortgage, very few homeowners accept the posted rate. The big banks are notorious for having the highe ...
read moreShould You Use Home Equity to Catch Up on an RRSP Shortfall?
February 19, 2015 | Posted by: Calum Ross
A common dilemma faced by homeowners is, should I contribute to my RRSP or pay down my mortgage? If you speak with your parents or grandparents who grew up during the Great Depression, they’ll ...
read moreRRSP Contribution vs Pay Down Your Mortgage… Do the Math!
February 12, 2015 | Posted by: Calum Ross
With the RRSP contribution deadline fast approaching, the age-old question comes up: should you contribute to your RRSP or pay down your mortgage? We all know what the big banks want you to do: contri ...
read more3 Reasons You Should Consider Refinancing Your Mortgage
January 14, 2015 | Posted by: Calum Ross
A lot of people view their mortgage as a life sentence when they sign on the dotted line. Just because you signed a five year mortgage term, doesn’t mean you can’t see what else is out t ...
read more4 Tips To Get Your Financial House in Order
January 7, 2015 | Posted by: Calum Ross
It looks like mortgage rates could finally be heading higher in 2015. I know what you’re thinking: we hear the so-called mortgage experts at the big banks predict this every year. What makes thi ...
read moreTrust the Team Contributing in Canada’s Most Credible Media Sources
