Recent reports have brought to light an increasing concern for many Canadian homeowners: rising mortgage delinquencies and negative amortizations, particularly with variable-rate mortgages (VRMs). As prime rates have increased over the past two years, many homeowners with VRMs have found themselves in a challenging situation where their mortgage payments do not adjust with the changing…
As a homeowner, one of the most significant financial milestones you’ll encounter is the renewal of your mortgage. With a staggering $251 billion of mortgages set to renew in 2024 and an even larger $352 billion in 2025, it’s crucial to be prepared. According to the Bank of Canada, “virtually all” remaining mortgages will go…
Demystifying Halal Mortgages: Understanding Options and Challenges. In a diverse and multicultural society like Canada, it’s essential to accommodate the financial needs of various communities, including those who adhere to Islamic principles. One such financial product tailored to meet the requirements of Muslim Canadians is the halal mortgage. These mortgages aim to align with Shariah…
As we step into a new year, the Calgary real estate market is at a crucial juncture, with various factors shaping its trajectory. In this blog post, we bring you an in-depth analysis of the 2024 real estate outlook and how it might impact your decisions in the housing market. The Current Landscape After a…
Canadian banks are reporting a surge in interest in the newly introduced First Home Savings Account (FHSA) program. This innovative initiative empowers potential homebuyers to kickstart their homeownership journey by saving and investing for a down payment, all while enjoying tax-free benefits! At Canadian Mortgage Professionals, we’re thrilled to keep you in the loop about…
The Benefits of Using Canadian Mortgage Professionals When Going Through a DIVORCE With our broker Bob, having 35 years of experience in the mortgage industry, he has helped hundreds of Canadians mitigate the financial aspect of divorce over the years. We understand divorce can be a complex and emotionally challenging process. Amidst the legal…
We are proud buddy up champions! What is buddy up?! Buddy Up is a men’s suicide prevention communications campaign: A call to action to men, by men! In Canada, men have a suicide rate three times higher than women. Why? Society has socialized men to be strong, stoic, and self-reliant; showing emotion is a sign…
A brief look at the difference a year can make with regards to mortgage interest rates, economic instability and a pandemic.
Here’s how Canadian Mortgage Professionals are working through the COVID – 19 pandemic.
Bob Reader shares a springtime message