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Writes about Canadian mortgages: the First Home Savings Account (FHSA), portable mortgages, and CMHC programs, guiding buyers through the stress test and pre-approval process.
In July 2026, Canadian homeowners face a critical choice between fixed and variable mortgage rates as economic conditions shift. Here are the key factors to help you decide which rate type fits your financial situation and risk tolerance.
Open and closed mortgages differ primarily in flexibility and cost. Open mortgages let you prepay or break your mortgage anytime without penalties, but carry higher interest rates. Closed mortgages lock you in for the full term with lower rates but charge significant penalties if you need to exit early.
Learn how GDS and TDS ratios shape your mortgage approval, the maximum thresholds Canadian lenders apply, and what these numbers mean for your borrowing power.
Learn how the Home Buyers Plan lets you borrow up to $60,000 from your RRSP tax-free for a down payment, and calculate your repayment schedule.
Compare how the OSFI B-20 stress test affects your mortgage qualification, down payment options, and monthly budget as a first-time buyer in Canada.
A concise guide covering down payment requirements, the mortgage stress test, CMHC insurance, and government savings programs for first-time home buyers in Canada.
Morningstar's support for OSFI's mortgage stress test and loan-to-income limits reinforces that Canadian mortgage qualification rules are likely to stay cautious.
OSFI's stress test exception for certain uninsured mortgage switches has reduced one barrier for some Canadian borrowers, but it does not remove the stress test altogether. Here is what changed, what did not, and why the market is still confused.
Canadian homeowners can now switch certain mortgages at renewal without facing OSFI's stress test again. The change mainly helps borrowers who want to move lenders without increasing the loan amount or amortization.
A Bank of Canada rate hike can leave some mortgage borrowers looking less qualified than they did when they first took out their loan. Here is what that means for renewals, refinancing, and switching lenders in Canada.
Refinancing can make sense when the savings clearly beat penalties, fees, and renewed qualification rules. Use this Canadian mid-year review to compare your rate, term, amortization, and equity options before you apply.
Current mortgage rate ranges as of Monday, June 1, 2026, and the short-term outlook for fixed and variable rates across Canada.
Higher interest rates can significantly reduce how much you qualify to borrow for a mortgage, even when your income stays the same. Understanding the stress test and qualifying rate helps you plan your home purchase or renewal.
Learn the strategy for securing the best mortgage rate when planning to close on your home purchase in August, including timing, rate hold mechanics, and decision points for Canadian buyers.
Learn how to choose between a fixed-rate and variable-rate mortgage in Canada by understanding rate structures, assessing your risk tolerance, and evaluating your financial goals.
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