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
The State of the Mortgage Market Feb 1st
Mortgage Professionals Canada released its marquis State of the Mortgage Market report last week. While much of the media focus was on the report’s assessment of the mortgage stress test and its ramifications, the annual report was once again chock-full of enlightening statistics that help pai.... More »
Three big banks cut mortgage rates this week, one drops 5-year fixed to 3.99% + MORE Mar 10th
Following dramatic swings in the bond market—and broader economic uncertainty sparked by President Donald Trump’s tariff threats—three of Canada’s big banks have slashed their fixed mortgage rates this week..... More »
How much credit card debt does the average Canadian have? + MORE Sep 23rd
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
Optimism Returns to the Markets. Could Fixed Rates Start to Rise? Nov 13th
Bond yields in both Canada and the U.S. jumped on news that Pfizer’s COVID-19 vaccine has proven more than 90% effective in its trials. Following the announcement on Monday, the all-important 5-year bond yield is now hovering around 0.50% for the first time since early June. Since bond yields .... More »
2020 – Year in Review + MORE Jan 7th
Now that the page has finally been turned on 2020, we wanted to take a look back at how mortgage rates fared over the course of what was a tumultuous year. It’s safe to say that COVID-19 stole the show in terms of the year’s biggest newsmaker. On the mortgage front, one of the biggest th.... More »
The Latest in Mortgage News – 2019 Forecasts
– canadianmortgagetrends.com
We’re about to turn the page on what was a challenging year for the mortgage and housing markets. But so far 2019 isn’t looking like it will be much better. That’s according to a slew of forecasts that have been released recently, most of which forecast moderating home sales, falling home prices and weaker economic […]
What Happened to Canadian Real Estate This Year and What to Expect in 2019
– ratesupermarket.ca
Whereas 2017 was the all-encompassing epitome of red-hot real estate markets across the country, 2018 started off on a quieter note. The year kicked off with a decline in sales, as changes to the Residential Mortgage Underwriting Practices and Procedures (referred to as B20) introduced by the Office of the Superintendent of Financial Institutions (OSFI) came into effect in on January 1. And eventually sales stabilized, but we’re still not seeing those record gains and prices that made prominent headlines back in 2017.
Now, this doesn’t mean that the Canadian real estate market is going through a correction; it simply shows how the public reacted to new provincial and municipal housing policies that were meant to stabilize the market anyway.
For potential home buyers who have been on the edge of their seats these past few years, these shifts in the market may be hard to digest. Let’s take a look back on the past year and understand what 2019 may bring.
What did home sales data look like throughout 2018?
Back in March, the Canadian Real Estate Association (CREA) reported that sales volume had dropped in February by 16…
