When you’re looking for a new mortgage or refinancing, lenders will look at both your debt servicing ratios and your credit score as part of the process. Your debt servicing ratios give lenders information about your ability to repay the…

Everybody says they do not want to do it. But everybody is getting ready for it. And some are shifting those preparations into overdrive. The next federal election does not have to be held until 2023, but there are sound…

The Office of the Superintendent of Financial Institutions (OSFI) recently proposed a change to uninsured qualifying rate rules. Upon confirmation, effective June 1, 2021, OSFI will require uninsured mortgages to qualify at the greater of: the OSFI-defined five-year minimum qualifying…

A few weeks ago, in the run-up to the Bank of Canada’s last interest rate setting, market watchers were abuzz with the prospect of another drop – even if it was just a, so-called, micro-cut of 0.1% to 0.15%. That…

The desire for home ownership remains strong in Canada. The latest home buying sentiment poll by one of the country’s big banks suggests nearly 60% of Canadians aspire to own a home. Just over half of those people are looking…