Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Could a line of credit impact my mortgage application? Nov 16th
Prospective house hunters and those looking to refinance an existing mortgage should consider the impacts of their lines of credit on their mortgage application. That’s because lenders take non-mortgage debt, including line of credit payments, into account when determining how much you can afford .... More »
Banks cutting variable mortgage rates to drum up business even as fixed rates rise + MORE May 18th
A number of Canadian lenders have slashed their variable mortgage rates in recent days, even as some of those same lenders are raising their fixed-rate mortgages..... More »
Mortgage-Free By 30 – Here’s How + MORE Sep 28th
After making his first foray into the housing market four years ago, MoneyWise writer Sean Cooper set out on a journey to pay off his mortgage by the age of 30. In September 2015, he achieved his goal and kissed his mortgage goodbye. Here is his story:
In August 2012 I bought my first house –.... More »
FSRA CEO Mark White to step down for new position as Chair of Ontario Energy Board Jul 5th
The head of Ontario's mortgage broker regulator, Mark White, has confirmed he will be stepping down from his role as CEO later this month..... More »
Mortgage Career: Invis and Mortgage Intelligence + MORE Jul 14th
Company: Invis and Mortgage Intelligence Position: Jr. Compliance Officer Location: Mississauga, ON Apply to: hr@invismi.ca Manager, Marketing Be Bold! National brokerage firms Invis and Mortgage Intelligence are the professional home for mortgage brokers adhering to the highest industry standards.... More »
Housing starts in Ontario, Quebec slowed in April
– moneysense.ca
OTTAWA – The pace of Canadian housing starts slowed in April to the lowest level in three months.
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Mortgage Costs About to Rise
– canadianmortgagetrends.com
Non-bank lenders rely heavily on securitization (selling mortgages to investors to raise money). They then lend that money out to new borrowers. This July, that’s about to get a whole lot more complicated…and costly. Big changes are afoot in the mortgage business, and they’re coming to a lender near you in two months. They include: Higher fees for lenders who use government-guaranteed mortgage-backed securities (MBS) Restrictions on securitizing mortgages in non-CMHC guaranteed securities A requirement to securitize portfolio (bulk) insured mortgages within six months. New Guarantee Fees The Department of Finance (DoF) wants to spur development of “private market funding READ MORE
