Canada

Rate Squeeze? Not Exactly, Since Average Mortgage Payments Are Lower Than Rent

Canadian mortgage payments are soaring as home prices hit record growth. Those payments might get more expensive for some as interest rates rise. It’s understandable that some are worried homeowners will face significant pressure. However, don’t expect renters to have any sympathy. As expensive as housing is, average mortgage payments are lower than the cost […]

Canada

One In Ten Canadians Approve of Inflating Income For Mortgage Applications: Equifax

Many Canadians are surprisingly comfortable telling strangers they approve of mortgage fraud. Equifax released its latest consumer survey along with upgrades to its ClearPro fraud detection platform. The company confirmed what many have suspected — credit fraud may be rampant. It didn’t take sophisticated software to figure that out either. That was just the result […]