Right now is probably the best time EVER to get a mortgage in Canada. The past week has seen the financial markets rocked and investors have flocked to safe haven investments like the Canadian Bond. As a result Bond Yields have tanked  and fixed rate mortgages are, or should soon reach lows that may have [...]

CMHC – Canada’s National housing authority just released their 2011 Mortgage Consumer Survey. One very important statistic for us at MyNewMortgage.ca is the statistic that 48% of first Time Homebuyers are arranging their mortgage through a mortgage Broker. When compared to the monopoly that Canadian Banks possess it is a very huge market share and [...]

For many families, earning Miles is an obvious way to accumulate without having to spend anything over and above what  you already are. Your Air Miles card or AeroPlan Visa are great tools to earn point and get swag from making day to day purchases. These products have also made their way in to the [...]

The best rate will save you hundreds but the wrong term can cost you thousands While it’s great to know you are getting the lowest rate out there, too often people are overly focused on finding the lowest rate without realizing that the wrong term can be significantly more expensive. The 10 year mortgage is [...]

This week Remax released their 2011 First Time Buyer Report. The report outlines some key market characteristics across Canada. The report surmizes the Canadian housing market so far in 2011 with a particular focus on First Time Buyers.   GTA In the GTA first time home buyers and move-up buyers have bolstered the market, with [...]