Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Higher renewal costs test household budgets in Ontario and B.C., says Equifax Sep 13th
Equifax reports that rising renewal costs are testing household budgets, with Ontario and B.C. most exposed, while mortgage growth remains muted..... More »
What is the “Best” Mortgage Rate? + MORE Sep 19th
Six in 10 mortgage consumers choose brokers, in large part because they think brokers will get them the best rate. All too many of those people associate the “best” rate with the “lowest” rate. Mortgage professionals know that’s not generally true, but convincing clients of this isn’t al.... More »
Latest in Mortgage News: Financial experts see less risk of an imminent recession + MORE Apr 27th
A recent survey of financial experts reveals a shift in recession expectations, showing a decrease in the likelihood of an imminent economic downturn. However, there is growing uncertainty regarding the timing and degree of anticipated Bank of Canada interest rate cuts..... More »
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 »
Should you pay off your mortgage early? + MORE Dec 17th
Let’s face it, we all dream of a debt-free life, and paying off your mortgage can be a big part of that. Even if it’s a distant goal, it’s fun to imagine the financial freedom that comes with settling one of life’s biggest loans—your mortgage.
You’re 2 minutes away from getting the be.... More »
Home Capital Group Inc. shares touched a one-year low on Thursday, a day after the Ontario Securities Commission launched proceedings against the Toronto-based mortgage lender and some of its current and former executives.
Home Capital Group: A timeline
– theglobeandmail.com
The Ontario Securities Commission has accused the alternative mortgage lender of misleading disclosure. How we got here
BREAKING: Ontario Car Insurance Rates Increase
– ratesupermarket.ca
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 1.24 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the first quarter of 2017, approved rates from auto insurance companies increased by 1.24 per cent on average.
The range of approved rates seemed to be significant, with some companies lowering their rates by as much as 3.33 per cent, and another inflating its rates by 7.08 per cent on average.
“Ontario has a very competitive marketplace,” FSCO said in its quarterly statement…
Government Committee Reports on Mortgage Changes
– canadianmortgagetrends.com
Following weeks of consultations with mortgage experts, the government’s Standing Committee on Finance has issued five recommendations for Parliament. They stem from the government’s mortgage changes last fall and this January. Those policies generated widespread criticism from non-bank mortgage providers who argued the new rules: created an uneven playing field between banks and non-bank lenders make it more difficult and expensive for low-risk borrowers to obtain a mortgage. Largely as a result of that criticism, the Standing Committee on Finance recommended that the federal government: Work with provincial governments to ensure stable, affordable regional housing markets. Consider increased support for first-time homebuyers. Use Statistics Canada to beef up housing data and READ MORE
Home Capital Group Inc. shares touched a one-year low on Thursday, a day after the Ontario Securities Commission launched proceedings against the Toronto-based mortgage lender and some of its current and former executives.
