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
Latest in Mortgage News: Newton Launches Rate Search Engine “Discovery” + MORE Oct 13th
Newton Connectivity Systems this week launched its new broker rate search engine, Discovery. The system, which also serves as a rate distributor for lenders, promises to improve efficiency and the quality of service brokers can provide to their clients, Kevin Dear, VP of Broker Experience at Newton,.... More »
Canadian home sales will fall to 9-year low next year, CREA forecasts Dec 18th
National home sales are projected to fall to a near decade low in 2019, as rising interest rates and strict mortgage stress-test rules continue to put a damper on homebuyer sentiment, according to the Canadian Real Estate Association..... More »
How much do you save with bi-weekly payments? + MORE Feb 7th
For years, we’ve been told to pay our mortgage bi-weekly. Magically, it will pay your mortgage off faster. Hmm, let’s put that to the test.
(SPOILER ALERT!) Around 10 years ago, I wrote an article showing some simple but effective math to explain this. I’m constantly getting e.... More »
Opinion: When another refinance may be the wrong answer + MORE Jun 20th
As equity shrinks and household debt rises, some homeowners are finding that another mortgage may only delay a deeper financial reckoning..... More »
Is it time to search for bond alternatives for your balanced portfolio? + MORE Oct 20th
I was recently warned by someone in the financial sector that it’s not a great time to invest in bond ETFs. My current asset allocation is 60% equities and 40% bonds, so I’m wondering what alternatives would you suggest for that 40% portion of my balanced portfolio?
At first I considered real.... More »
Pace of Canadian housing starts picks up, six month trend highest in years: CMHC
– canadianbusiness.com
OTTAWA _ Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, pushing the six-month trend to the highest level in nearly a decade.
The Ottawa-based Crown corporation says construction of multiple-unit projects in Toronto has been a driving force behind the trend.
In November, the seasonally adjusted annualized rate of housing starts across Canada was 252,184 units _ up from 222,695 units in October.
Multiple-unit urban starts accounted for 175,016 units on a seasonally adjusted basis, up 16.9 per cent, while single-detached urban starts were up 7.5 per cent to 60,396 units and rural starts were estimated at 16,772.
CIBC World Markets chief economist Avery Shenfeld said in a note that the size of the increase was “stunning” but it “doesn’t clash as much with other Canadian housing indicators as you might think.”
“Home sales have slowed, but with builders focused on condos that are started well after most of the units have been bought, it’s going to be a while before quieter sales offices mean fewer cranes on the horizon…
The Ottawa-based Crown corporation says construction of multiple-unit projects in Toronto has been a driving force behind the trend.
In November, the seasonally adjusted annualized rate of housing starts across Canada was 252,184 units _ up from 222,695 units in October.
Multiple-unit urban starts accounted for 175,016 units on a seasonally adjusted basis, up 16.9 per cent, while single-detached urban starts were up 7.5 per cent to 60,396 units and rural starts were estimated at 16,772.
CIBC World Markets chief economist Avery Shenfeld said in a note that the size of the increase was “stunning” but it “doesn’t clash as much with other Canadian housing indicators as you might think.”
“Home sales have slowed, but with builders focused on condos that are started well after most of the units have been bought, it’s going to be a while before quieter sales offices mean fewer cranes on the horizon…
Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, with condo building in Toronto driving the trend.
Fall Survey Highlights Stress Test Fallout
– canadianmortgagetrends.com
OSFI’s forthcoming stress test for all uninsured mortgages after January 1 will have far-reaching effects across the mortgage industry, potentially removing up to 50,000 buyers from the real estate market each year. That’s one of many key findings from Mortgage Professionals Canada’s Annual State of the Residential Mortgage Market survey, released this week by the […]
