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
Should you buy or sell first in today’s real estate market? May 1st
We’re in the market for a new home, but we aren’t sure whether we should sell our home first or buy first. We’ve had people suggest both, and we’re wondering what might be best in the current real estate market.
Should you buy or sell first in real estate?
Whether you should buy .... More »
Opinion: S&P Overstates Broker Fraud Driver + MORE Mar 22nd
A few weeks ago, S&P said Canadian bank risk was rising, and it blamed mortgage brokers in the process. The rating agency wrote: “…The growing share of residential mortgages originated via brokers, compound the risks of high household debt and house prices…As brokers do not bear credit ri.... More »
Locked Out of the Market: How the Mortgage Stress Test Could Be Hurting Homebuyers Mar 12th
It was created with the intention of saving Canadians from becoming over-burdened with their mortgages, but some critics of the Canadian government’s mortgage stress test say it is slamming the door on first-time homebuyers who would otherwise be able to break into the market. In a recent opi.... More »
Let's Throw a Patent-Burning Party Oct 1st
When a drug goes generic, it’s as if society has paid off a mortgage..... More »
Best Practices to Verify Your Clients’ Down Payments May 25th
Proving the source of your clients’ down payments can sometimes be the most time-consuming part of arranging a mortgage. Even when handled well, the process may sour the buyer experience. Your client will need to provide a comprehensive history of all the money earmarked for their down payment.... More »
(iStock)If you don’t know them personally, you’ve read about them: the woebegone residents of Vancouver, Toronto, and the surrounding areas of those two cities who bought too much house. Some of you pity them; so unfair their time to buy arrived at the frothiest stages of a property bubble. But I bet just as many of you are disdainful. You ask: Why the hell don’t these people rent?
Hold onto those competing impressions. We will be coming back to them.
The economy just survived a scare. For a few weeks in May, Home Capital Group Inc. looked like it would become the first Canadian financial institution to collapse since the 1990s. But HomeCap still is with us, and the chatter that its troubles herald a housing meltdown has subsided. “From the very beginning, we have seen this as a Home Capital issue as opposed to a broader issue,” Finance Minister Bill Morneau told the Globe and Mail on May 12.
Home Capital, a subprime lender, is too small to cause much trouble on its own. (Its mortgages account for about one per cent of the total market…
Q2 2017 Bank Earnings – Mortgage Morsels
– canadianmortgagetrends.com
Another quarter, another $10.16 billion in net profit for Canada’s Big 6 banks. That’s an 18% increase over last year’s haul. Growing mortgage portfolios were responsible for much of that growth. CIBC in particular saw it’s mortgage book expand 12% from a year ago. Observers looking for signs of weakness in the country’s housing market […]
