Mortgage & Finance
Mortgage rates, financing, and home loan guides for Ontario buyers
Ontario’s 25% Non-Resident Speculation Tax (NRST) Explained — 2026
A full 2026 guide to Ontario's Non-Resident Speculation Tax (NRST): the current 25% rate, who must pay, province-wide scope, the permanent-resident rebate, and exemptions.
Mortgage Broker or Go Straight to the Bank? The Real Difference
When arranging a mortgage in Canada, what's the difference between using a mortgage broker and going straight to a bank? A bank offers only its own products; a broker compares many lenders — banks, credit unions, monolines, B-lenders, and private lenders. In Ontario brokers are regulated by FSRA and are usually paid by the lender. Here's the trade-off between the two paths.
How Is Your Mortgage Registered? Standard vs. Collateral Charge
Canadian mortgages are registered in two ways: a standard charge is registered for the actual loan amount, can be assigned to a new lender, and makes switching at renewal low-cost; a collateral charge is often registered for more than the loan (sometimes up to 125% of the home's value), can't be assigned, requires a full discharge and re-registration to switch (with extra legal fees), but makes future borrowing easier.
Open vs. Closed Mortgage: A Lower Rate, or More Flexibility?
What's the difference between an open and a closed mortgage in Canada? A closed mortgage has a lower rate but charges a penalty to pay off early (usually three months' interest for variable, or the greater of three months' interest and the Interest Rate Differential for fixed). An open mortgage can be paid off anytime with no penalty but carries a higher rate. Here's how to choose by your plan.
How Is Property Tax Calculated in Ontario? Assessment, Tax Rates, and MPAC Explained
How is property tax calculated in Ontario? The formula is assessed value × (municipal rate + education rate). This guide explains MPAC assessment, why the valuation date is still frozen at 2016, and how assessment differs from the tax you pay.
Mortgage Default Insurance in Canada (CMHC) Explained
Mortgage default insurance — commonly called CMHC insurance — is insurance that protects the lender, not the borrower. According to the Financial Consumer Agency of Canada (FCAC, 2025), any time your down payment is less than 20% of the purchase price, the loan is considered a high-ratio mortgage an
Blend-and-Extend Your Mortgage in Canada: Lower Your Rate Without Paying a Penalty
Blend-and-extend lets you mix your existing mortgage rate with a new rate your lender offers into a single weighted-average rate, and re-set your mortgage into a fresh full term (for example, a new 5 years), all without breaking your contract. Because the contract is never broken, you avoid the prep
Mortgage Porting in Canada: How to Take Your Low Rate to a New Home Without the Penalty
In most cases, yes — the move is called porting (mortgage portability). Porting transfers your existing mortgage's rate, remaining term, and balance to the new property you're buying. Because you aren't breaking the mortgage, it generally doesn't trigger a prepayment penalty. According to Canada's F
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