Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Canadian household debt hits $1.8T as report warns of domestic risk + MORE Mar 13th
TORONTO _ Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that the country’s banking system is at risk from rising debt levels.
Equifax Canada said in a new report Monday Canadian consumers now owe $1.821 trill.... More »
Market Your Mortgage Business More Effectively in 2020 + MORE Dec 12th
It’s not too early to be thinking about New Year’s resolutions. And since you’re promoting yourself and building business, more efficient marketing is probably on your wishlist for next year. Why not resolve to market yourself more efficiently in 2020? Marketing is a full-time job. Since you a.... More »
Latest in Mortgage News: 4 in 10 Buyers Open to Purchasing a Home “Virtually” + MORE Jun 13th
Social distancing restrictions in place for the past few months have transformed the way homes are bought and sold, with many showings now taking place “virtually.” And many homebuyers—42%, to be exact—are just fine with that, according to a recent survey by the Ontario Real Estate A.... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
What To Expect in 2023 Jan 6th
Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. B.... More »
CMHC to Investigate Foreign Real Estate Ownership
– ratesupermarket.ca
With housing prices at record highs in many parts of the country, most notably in Vancouver and Toronto where the average price of detached homes now exceeds $1.3 million and $1.2 million respectively, many buyers have had to consider condos as their “starter home.” But condos prices in those cities have also skyrocketed in recent years, and some blame foreign investors for the price hikes. The CMHC recently tried to calculate the impacts of foreign ownership on the Canadian condo market.
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Shiny and New
The CMHC data shows that foreign investors, for the most part, make up a fairly small portion of condo owners in Canada. Those that do buy here though are much more interested in newer properties. In the Toronto “census metropolitan area” foreign buyers own less than 2 per cent of condos built before 1990, but own 7 per cent of buildings constructed since 2010. In the City of Toronto itself – the North American leader in high rises under construction for several recent years, as many as 10 per cent of newer condo units are foreign owned…
Surviving the crunch
– moneysense.ca
Julie and Noel Bond seemed well on their way to realizing the Canadian dream when they moved east of Vancouver to the small community of Mission in 2014 so they could afford a three-bedroom house for their growing family. They now have two pre-school children and are expecting a baby in March.While Julie plans to stay home to look after the kids for a year after the baby’s birth, the couple face a tricky financial dilemma over what to do after that. For Julie to return to her part-time $30,000-a-year teaching job would be pointless because her entire paycheque would be eaten up by child-care costs. But the $80,000 a year Noel earns as a railway worker isn’t enough by itself to cover the mortgage and other expenses if Julie stays home to look after the kids. Whether Julie, who is 36, returns to her old job or stays home, they expect ongoing expenses to exceed take-home pay by about $1,000 a month. That leaves Julie looking for solutions and wondering, “What will my family do?”
Caught in the crunch
The Bonds are in the midst of what many Canadians find to be the most challenging interval on the entire road to retirement, a period sometimes referred to as the “crunch” years…
US mortgage rates remain low as home-buying season starts
– canadianbusiness.com
WASHINGTON – Long-term U.S. mortgage rates stayed near 2016 lows this week, potentially good news for the housing market as the spring home-buying season begins.
The average 30-year fixed-rate mortgage edged up to 3.59 per cent from 3.58 per cent last week. The 15-year fixed-rate mortgage slipped to 2.85 per cent, lowest since May 2013, and down from 2.86 per cent last week.
The rate on five-year adjustable rate mortgages slipped to 2.81 per cent from 2.84 per cent last week.
Mortgage rates are lower than they were in mid-December when the Federal Reserve raised short-term rates for the first time since 2006. The Fed hike was expected to be the first of several and would push mortgage and other rates higher. Instead, weakness in the global economy has helped keep rates low.
A year ago, the average 30-year mortgage rate stood at 3.65 per cent and the 15-year was at 2.92 per cent.
The spring house-shopping season has gotten off to a solid start. The National Association of Realtors said Wednesday that sales of existing homes rose 5…
The average 30-year fixed-rate mortgage edged up to 3.59 per cent from 3.58 per cent last week. The 15-year fixed-rate mortgage slipped to 2.85 per cent, lowest since May 2013, and down from 2.86 per cent last week.
The rate on five-year adjustable rate mortgages slipped to 2.81 per cent from 2.84 per cent last week.
Mortgage rates are lower than they were in mid-December when the Federal Reserve raised short-term rates for the first time since 2006. The Fed hike was expected to be the first of several and would push mortgage and other rates higher. Instead, weakness in the global economy has helped keep rates low.
A year ago, the average 30-year mortgage rate stood at 3.65 per cent and the 15-year was at 2.92 per cent.
The spring house-shopping season has gotten off to a solid start. The National Association of Realtors said Wednesday that sales of existing homes rose 5…
Mortgage Career: True North Mortgage
– canadianmortgagetrends.com
Company: True North Mortgage Position: Salaried Mortgage Agent Location: Vancouver/Burnaby, BC Send resume to: chris.rempel@truenorthmortgage.ca Salaried Mortgage Agent Company Overview: Salaried Mortgage Agent True North Mortgage is looking for a Salaried Mortgage Agent for the Vancouver/Burnaby area. Mission Statement: To offer Canada wide mortgages at best rates with friendly, informative and rapid service. Our retail locations enable clients to interact with our agents face to face.We offer a friendly work environment with a team based approach and team based bonuses. Job Description: Essential abilities: Willingness to work mall hours (some evenings and some weekends required) Residential mortgage industry experience;- Friendly READ MORE
