With rising interest rates comes rising mortgage payments and the fall out of that is a higher debt servicing ratio (the percentage of your income you are using to pay your housing costs). Each classification of lender has a debt
What Classification of Mortgage Do You Qualify For? Read Post »
According to a recent report by RBC analyst Darko Mihelic, about 60% of outstanding mortgages at Canadian chartered banks are facing a payment shock in the next 3 years. Mihelic has sited that this “payment shock” could be significant and
Payment Shock is Coming – You Can Prepare Read Post »
BMO Economics released its updated rate forecast and here’s the take away you need to know:
The Future of Mortgage Interest Rates Read Post »
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