Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Housing starts up in six largest cities but construction still not closing supply gap + MORE Sep 28th
The Canada Mortgage and Housing Corp. says construction of new homes in Canada's six largest cities rose 4% year-over-year during the first half of 2024, but housing starts were still not enough to meet growing demand..... More »
Fixed mortgages are falling. Experts explain why and weigh in on fixed vs. variable Jun 11th
Both existing homeowners and new homebuyers are benefiting from a drop in interest rates see over the past week..... More »
CMHC’s Evan Siddall Addresses B-20 at National Mortgage Conference Oct 31st
In what must have felt like walking into the lion’s den, CMHC head Evan Siddall addressed concerns about recent regulatory changes in front of a crowd of over 1,000 mortgage professionals on Monday. Siddall attended Mortgage Professionals Canada’s annual conference in Montreal, answering questio.... More »
Homeowners, realtors should take steps to protect against title fraud: experts Mar 19th
It's been years since you finished paying off your mortgage, so the letter in the mail from a bank saying you're in default and now owe money comes as a shock..... More »
Mindful Spending and Saving Through COVID-19 Apr 10th
People are finding new ways to run errands and complete daily tasks while the COVID-19 emergency orders are in place. Although these are challenging times, quite a few services can be ordered straight to your doorstep. Shopping is still at our fingertips and seemingly more accessible than ever.
For.... More »
Canada’s housing market is always a hot topic, but this week it was a heretofore little-known mortgage lender called Home Capital that made headlines as clients withdrew hundreds of millions in savings in a matter of days.
Home Capital stock rises as it secures credit line, says exploring options
– canadianbusiness.com
TORONTO — Home Capital Group Inc. shares regained some ground on Thursday after it secured a $2-billion credit line and said it’s exploring its strategic options, suggesting it could be up for sale.
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
Home Capital’s Saga: The Latest
– canadianmortgagetrends.com
There’s going to be a lot of Home Capital Group (HCG) announcements as this story unfolds in coming days. We’ll track them here… Update #7: April 28, 3:35 P.M. Equitable Group shares are down 16% following a 50 bps hike in its deposit rates. Former Home Capital director Jim Keohane was on BNN today. Good on him for having the guts to speak publicly. His comments did much to assuage fears about an imminent demise of the company. Here’s some of what he said: His fund’s investment was not a “high-risk” investment because it was overcollateralized by high-quality mortgages (effectively 2.8 times READ MORE
Lender Spotlight Simplifies Broker Rates
– canadianmortgagetrends.com
Lender rate sheets used to be simple. Over three dozen government mortgage regulations later, lender rate sheets now look like: Insurance rule changes, among other things, mean that finding the best rate for a client today can easily take three times longer than it did just a few years ago. That’s the pain Lender Spotlight (www.lenderspotlight.ca) is trying to solve. The website, created by the folks at DocAssist, lets you enter a mortgage type, term, amount, LTV, etc. and instantly find the lowest published rates from the broker channel’s top lenders. The system has 16 lenders on it so far READ MORE
Home Capital stock rises as it secures credit line, says exploring options
– canadianbusiness.com
Home Capital Group Inc. shares regained some ground on Thursday after it secured a $2-billion credit line and said it’s exploring its strategic options, suggesting it could be up for sale.
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
