Rob McLister has been informing mortgage consumers and professionals since 2007. In that time, he’s written more than 2,500 mortgage stories for publications ranging from the Globe and Mail — where he presently serves as mortgage columnist — to the National Post, Maclean’s, Canadian Mortgage Trends and RateSpy.com. Regularly quoted throughout the media, Rob is a committed advocate of greater transparency in the mortgage industry. He’s also been a vocal consumer advocate for more sensible mortgage regulation. In 2011, he launched two mortgage fintechs: mortgage comparison website RateSpy.com and digital mortgage broker intelliMortgage Inc. The former is the go-to source of Canadian mortgage news and the only site comparing all publicly advertised prime mortgage rates. The latter is Canada's leading online mortgage provider for self-directed borrowers. Both companies were acquired in 2019 by Kanetix Ltd.
Mortgages are considered “good” debt, at least according to consumer surveys. Yet, for most new homeowners, mortgages are a financial noose around the neck.
Few home financing products are as powerful as the readvanceable mortgage. Readvanceables give homeowners a source of low-cost cash—anytime they want it.
Borrowing costs have fallen drastically in recent months. That has further widened the gap between the best-discounted mortgage rates and the government's “stress test” rate, which new borrowers must prove they can afford.
If your mortgage is coming up for renewal (i.e. you’re nearing the end of your mortgage term), you may have to play hardball during negotiations.
Picking upgrades is one of the most fun, and financially stressful, parts of buying new construction. As the first owner, you’ve got once chance to add the features you’ll have to live with for potentially years.
With rates near zero, the Bank of Canada is almost out of rate ammunition.
For the first time in Canadian history, reverse mortgages are now widely available under 4%, further reducing the gap with standard mortgage rates and HELOCs.
Global interest rates have plummeted worldwide amid a coronavirus-triggered economic growth freeze. And when we say plummeted, we mean it.
With home values up significantly across the country in recent years, more seniors are choosing to tap into that equity in the form of a reverse mortgage.
Canada’s most visible proponent of stricter mortgage rules has announced he will be stepping down from his position as head of Canada’s national housing agency.
Reverse mortgages are commonly associated with those in their 70s or beyond. Most use them as a last resort to raise cash while staying in their homes longer.
The feds rained on the mortgage parade with stricter qualifying rules last year, which contributed to residential mortgage growth falling off a cliff in 2018.
Politicians hoping to win our hearts and minds better have a convincing message on creating housing affordability. Their electability depends on it.
Declaring bankruptcy probably won't protect you from the Canadian Mortgage and Housing Corporation. Here's why that is.