Mortgage 101 with Clinton Wilkins

Todd and Clinton continue chatting on the subject of Merry Debtmas, inviting a friend of the show to share some information that may be helpful to borrowers facing challenging financial situations.  Tina Powell, a licensed insolvency trustee from MNP Limited, discusses personal insolvency options such as bankruptcy and consumer proposals. She emphasizes the importance of confidentiality and empath...

Todd and Clinton's Merry Debtmas conversation continues, this time discussing the ins and outs of mortgage refinancing and renewals, highlighting recent changes to Canadian mortgage rules.  Key points include the introduction of high-ratio insured mortgages with a 30-year amortization and an increased limit to $1.5 million. They also cover the return of high-ratio insured refinances up to 90% of t...

It's a new year which can only mean one thing: Merry Debtmas! Todd and Clinton discuss the challenges of home ownership and financial planning in this time of rising costs and inflation. Clinton emphasizes the importance of financial literacy and planning, noting that 60% of Canadians are facing mortgage renewals with potentially strained finances.  They highlight the necessity of having a fallbac...

Mario Cloutier from Manulife joins Clinton Wilkins and Dan Ahlstrand again to discuss risk coverage for borrowers who are looking to build and the high cost of construction today. The three wrap the show by taking a listener's call, answering the questions he had on the subject of creditor insurance. 

Clinton Wilkins and Dan Ahlstrand are joined again by Manulife's Mario Cloutier. They discuss the types of insurance coverage borrowers should look into as they move through different phases of life. The three also field a range of call-in questions from Mortgage 101 listeners. 

Dan Ahlstrand and Clinton Wilkins are joined by Mario Cloutier, from Manulife, to discuss how to keep your finances protected. Cloutier advises that insurance premiums are often affordable and can be maintained at a fixed rate throughout the mortgage term, recommending both creditor and life insurance for comprehensive protection.

Clinton Wilkins and Dan Ahlstrand talk about financial literacy, highlighting the importance of understanding finances beyond just bank balances, noting that Canadians are at an all-time high of 180% debt-to-income ratio.

Dan Ahlstrand and Clinton Wilkins discuss the changing landscape of income and housing in Nova Scotia. They focus on the recent federal government announcements allowing up to 90% home equity borrowing for secondary suites.

Chris Johnson from Sagen joins us on Mortgage 101 to discuss the importance of high-ratio mortgage insurance, which allows buyers to access homeownership with as little as 5% down, making it more affordable for Canadians. 

Derek Bellefontaine, Real Estate Appraiser, with Mari Tech joins us as our guest to discuss the role of appraisers in valuing homes, which is crucial for purchasing, refinancing, and separations.

Special host Dan Ahlstrand joins Clinton Wilkins to kick off Financial Literacy Month, emphasizing education on income, assets, and credit. 

Clinton Wilkins reflects on this year's discussions of the impact of interest rate cuts on consumers, noting that rates have declined by 0.25% and are predicted to reduce further by 125 to 175 basis points by the end of next year. This could potentially bring prime rates to around 4%. Clinton also highlights the importance of being organized and prepared for real estate transactions, emphasizing t...

Your host, Clinton Wilkins recaps this year's conversations with Todd Veinotte on the housing market in Halifax. Clinton reminds us of the need for densification due to urban sprawl and limited land availability. In 2024 we have multiple offers, but less frequently as in 2021-2022. Prefabricated homes are considered a potential solution to reduce housing costs, with economies of scale and controll...

This recap episode of Mortgage 101 highlights concerns about increasing debt levels in Canada, with Equifax reporting that mortgage holders are missing payments. We look back at one of the show's guests, Sandi Burns, from Manulife Bank, who noted that BMO exited the auto loan industry due to high arrears, predicting a peak in 2025-2026. Many Canadians are refinancing at higher rates due to pandemi...

In early 2024, the Ontario real estate market slowed significantly, while Nova Scotia's affordability stood out with an average home price of $500,000 in Halifax. Building costs and labour have surged due to inflation, affecting both new construction and renovations. First-time homebuyers are increasingly opting for starter homes, often in need of repairs. Atlantic Canadians are particularly burde...

How affordable is the Nova Scotian market? Real estate is more affordable in Nova Scotia compared to other markets. Clinton and Todd reflect on the challenges of buying starter homes, citing increased property values and stagnant income growth. 

So the interest rates are down, and I can finally buy a home - now where do I buy? Clinton and Todd discuss the Halifax housing market and deciding on a location in terms of housing types,  commuting and fuel costs, natural disasters, insurance, and the potential for lenders to refuse mortgages in high-risk areas. 

Clinton and Todd discuss the Bank of Canada's recent rate cut of 25 basis points, with predictions of further cuts in October and December, opening up the market for some buyers.

With 20 years in the mortgage industry, Clinton Wilkins and his team are undeniable experts, with quality relationships with lenders. Clinton, alongside his co-host Todd Veinotte, chats through why going through a mortgage broker versus a bank may be beneficial for you!

Are we building enough new homes in Nova Scotia? Clinton and Todd discuss housing starts, and the Halifax market, focusing on trends in new builds, affordability concerns, and demographic shifts. The two touch on a lack of inventory causing demand crunches and advocate for the need for more housing supply to meet growing demand.

Danielle MacLean, Clinton Wilkins, and Todd Veinotte are back to chat more on the financial aspects of real estate transactions, emphasizing the importance of proper disclosures, documentation, and transparency to ensure smooth transactions and avoid potential risks. They cover private sales, transfer taxes, joint ownership, and mortgage transfers, highlighting the need for due diligence and exper...

Expert and Real Estate Lawyer, Danielle MacLean, from DCL Law joins Todd Veinotte, and Clinton Wilkins to share insights on navigating real estate transactions. They emphasized the importance of education, organization, and flexibility in preventing unexpected problems. They discuss the significance of having the right professionals on your team and being aware of the legal aspects involved in rea...

Yet another Bank of Canada interest rate update means that Clinton Wilkins and Todd Veinotte are at the Mortgage 101 table to discuss what this means for Nova Scotians. They also get into the challenges of managing mortgage debt in a rising interest rate environment, and highlight the risks of negative amortization and the importance of proactively refinancing mortgages to avoid significant paymen...

Would you bet your house you know exactly what's happening with your credit? In this episode, Clinton and Todd emphasized the importance of monitoring credit reports, correcting errors, and being cautious when sharing credit card information online. 

Blair Patterson joins your Mortgage 101 hosts once again to continue the conversation of pride in homeownership for Pride Month in Halifax! The three of them emphasize the need for support and resources to help members of the queer community fulfill their dream of homeownership.