With the beginning of a new year, it is an excellent time to reassess our spending, debts and mortgage.  After an interesting year around the globe, it is going to be an important year to watch our finances.  If you haven’t thought about your mortgage or the extra spending you did over the Christmas season, it is a good time to reflect.

The Canada Mortgage and Housing Corporation has released its 2011 Canadian Housing Observer report with some interesting new stats to give us insight into how our housing market is performing.  There are many interesting trends included in the report, and it is worth a read if you are thinking about refinancing your home or are curious to learn more about the Canadian housing market.

The report stated that mortgages comprise 68% of the debt of Canadian households.  While this number is lower than in 1993, this is still a significant number to consider.  The big banks of Canada now hold less than 55% of mortgages, which shows that more and more Canadians are choosing to work with a mortgage broker to get them the best rates and the best deals in mortgages. Another interesting fact stated in the report is that by 2036, 24% of Canada’s population will be over 65, which not only increases demand for senior housing, but also could have a serious impact on houses and condos as people downsize for their retirement.

Consult a Mortgage Broker

With mortgage rates forecasted to remain low and fairly stable over 2012, it is a good time to consult a mortgage broker to see if you can secure a good deal on your home mortgage or loans to improve your financial stability over the next year.  If you reassess your finances and discover that you are paying far too much interest and are paying more than 5% on your mortgage, it is time to get a better deal.

According to an article by CTV news on December 22, 2011, the average Canadian household carries debt loads worth 153% of disposable income.  This is the highest ratio ever, and if your debt is so high, it becomes harder and harder to reach your financial goals.  As more and more people carry their mortgages into retirement, it is necessary to look at your finances now and see if there are ways to consolidate your debt and start paying it down.  There are many financial products available to assist you in this, whether it is a lower mortgage rate, a home equity loan or other forms of debt consolidation.

How to get started?

At One Stop Mortgage, the team of mortgage broker specialists makes mortgages simple.  They can help you discover the various financing options that are available for your specific needs and can arrange mortgages within the same day.  The One Stop Mortgage group can also provide partial interest mortgages, which are a great product for families who want to invest in the same property.  With One Stop Mortgage you can get the right real estate and mortgage advice you need and change your credit financing to begin the path to financial freedom.

The One Stop Mortgage group is always available to assist you in finding the best loan to fit your needs.  Give them a call at 604 874 8988 or 1-877-874-8988 or email them at  The team of Mortgage Brokers at One Stop Mortgage can find the best second mortgage or home equity loan that best fits your needs.