Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Celebrating excellence: New inductees join the Mortgage Hall of Fame + MORE Oct 20th
Canada’s mortgage industry came together on Monday night to honour this year’s three newest inductees into the Mortgage Hall of Fame..... More »
How to protect yourself from identity fraud in Canada + MORE Mar 31st
In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are .... More »
How much is the average mortgage payment in Canada? + MORE Aug 12th
There’s a cost-of-living crisis affecting many Canadians in 2023. Despite inflation falling to 2.8% in June, the run-up in prices of 2022 and early 2023 have made many staples, including groceries, unaffordable for everyday people. Meanwhile, the Bank of Canada’s (BoC) efforts to bring infla.... More »
The latest in mortgage news: OSFI has no plans to loosen the stress test Sep 17th
Despite today's mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada's banking regulator said no changes to the stress test are imminent..... More »
How to prepare for a 2023 recession + MORE Nov 19th
The Great Recession scarred me. I was just about to graduate from university in 2008 when it hit: The fallout from the subprime mortgage crisis created a deluge of fear, anxiety and pure panic from all corners. The S&P 500 plunged by 57%, U.S. gross domestic product (GDP) declined by 3.8% and em.... More »
MCAP 79. A New Twist in “A” Mortgages
– canadianmortgagetrends.com
As those in the mortgage business are painfully aware, Department of Finance rule changes have made low-ratio mortgage insurance far more expensive—well over 200% more expensive in some cases. For mortgage finance companies who rely on insurance for securitization, that’s a serious problem. One of the more inventive solutions to this problem comes from MCAP, with its new “MCAP 79” mortgage. The product, which launched last week, comes with an eye-catchingly low 5-year fixed rate (as low as 2.29% at 65% LTV). There’s also a 1% fee, which can be capitalized into the mortgage. MCAP uses the 1% upfront fee to offset its insurance READ MORE
