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Welcome to the Mortgages for Less blog! Here, you'll find expert advice, industry news, and helpful tips to guide you through every step of your home financing journey. Whether you're a first-time homebuyer or looking to refinance, our blog is your go-to resource for staying informed and making smart mortgage decisions.

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  • March 4, 2020

    The Bank of Canada cut its overnight rate for the first time in four years. This follows the US Central Bank doing the same thing just yesterday. In the BoC announcement it seems that the overall Canadian economy has been doing sufficiently well that under normal circumstances they would not have dropped the rate.

  • February 28, 2020

    More good news for people who have been struggling with the mortgage stress test! It was recommended by FINA (House of Commons Standing Committee of Finance) to the federal government that they “exempt mortgages from the stress-test where the mortgagor has already met the obligations of their original mortgage.” This is great news for existing…

  • February 21, 2020

    The Department of Finance announced Tuesday changes to the mortgage stress test. “The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%.” This change is specific to insured mortgages (i.e. mortgages with a down payment of less than 20%) and takes affect on April 6.