Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Bank CEOs weigh in on “vulnerable” mortgage clients + MORE Jan 12th
Canada's Big-Bank CEOs weighed this week in on the current state of their mortgage clients, including those they consider "vulnerable" in the event of a recession..... More »
5 smart strategies for renewing your mortgage + MORE Mar 25th
Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rat.... More »
Canada’s inflation rate falls to 2.5%, paving way for another interest rate cut + MORE Aug 23rd
Canada’s annual inflation rate fell to 2.5% last month, matching economists’ forecasts and solidifying expectations for a third consecutive interest rate cut in September.
Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the.... More »
Latest in Mortgage News: Are fixed mortgage rates about to take another leg higher? Aug 6th
There's speculation that fixed mortgage rates, which have continued to trend higher over the past several weeks, are set to rise even further..... More »
Preparing for the next wave of renewals: Manulife’s unique solutions + MORE Apr 24th
The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it..... More »
Housing slump? Recession? Not so fast…
– canadamortgagenews.ca
Remember all those pessimists who were calling for a housing bubble or collapse?
If you listened to them and rented for the past eight years, how much would you have lost? How much would your rent have increased since then? And would you still be able to rent that condo or house… or would your landlord possibly have plans to sell it and leave you out in the cold?
We used to expect an economic slowdown or recession every five years. But something happened after the last big recession in 1990. Since then, there has really only been one recession: in 2009.
This came off the heels of the infamous US subprime mortgage crisis that crippled most of the world’s economies for years. Yet, in Canada, we got off relatively easy. Our slowdown lasted less than a year.
Some want to give credit to our strong banking system or strict government regulations. But the truth is, we are – and have always been – around five years behind the US. The truth is, we only started to try out those subprime mortgages when the sky fell on the global financial markets in 2009…
