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With NAFTA re-negotiations concluded next week, the re-vamped United-States-Mexico-Canada Agreement has lifted a grave shroud over the Canadian economy. However, according to The Globe and Mail's Rob Carrick, active home buyers have nothing to be thankful about. He says that the low-interest rate environment some have enjoyed since 2008 will swiftly be transformed by rising rates, and that young buyers should lock into a decent mortgage rate sooner rather than later. To lea...

Thinking about refinancing your mortgage? Before you contact registered mortgage professionals, bear in mind that new federal mortgage rules mandate a mandatory mortgage stress test. That means that before you can refinance your mortgage, you have to prove that you'll be able to manage monthly payments even if interest rates rise. This test rate is the higher of either the Bank of Canada's five-year benchmark, or your current rate increased by two per cent. However, Global&...

With people living longer and fewer employers offering defined benefit pension plans, balancing mortgage payments and retirement savings is a challenge hanging over the heads of many professionals. According to Forbes' Jack Guttentag, addressing it requires more than just stricter savings on the side of borrowers, but policy changes that privilege faster loan repayment, rather than just affordability, in order to avoid anyone continuing to pay off their mortgage into retirement. ...

According to The Globe and Mail's Solarina Ho, the Canada Mortgage and Housing Corporation is introducing new guidelines that make it easier for self-employed borrowers taking out a down payment below 20 per cent to be qualified based on additional factors and new forms of income documentation. CMHC says that 15 per cent of Canadians are considered to be self-employed, but bear in mind that number could rise because of the burgeoning gig economy. Read more about the new guideli...

Interest rates are on the rise, and that means that today's mortgage buyers have some very serious decisions to make about their mortgage term in a short amount of time. With the US Federal Reserve widely expected to raise interest rates by another 1.25 per cent, the Bank of Canada will be sure to follow suit, and savvy mortgage borrowers need to plan accordingly. The Globe and Mail's Robert McLister breaks down the pros and cons of five-year fixed rate, variable, and hybri...