Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Latest in Mortgage News: OSFI Changes Rules for Mortgage Deferrals + MORE Sep 2nd
OSFI, Canada’s banking regulator, announced today it will start phasing out special regulatory capital treatment of deferrals given improving economic conditions. The changes are effective immediately for mortgage payment deferrals granted by the Big 6 banks through to the end of September. Th.... More »
Breaking down bank fees + MORE Jul 16th
The COVID-19 pandemic has hit a lot of Canadians hard—emotionally, physically and financially. So it isn’t surprising that many are calling out banks that raised their fees to consumers at a time when so many people are struggling. Given the number of banks that have also reported record profits.... More »
Renewal Rate Shock Diminishing, Says BoC + MORE Nov 9th
Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. .... More »
Mortgage brokers are slowly embracing AI tools like ChatGPT + MORE Jul 15th
AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception..... More »
Q2 2021 Bank Earnings – Profits Soar as Loss Provisions Plunge + MORE Jun 19th
The Big 6 banks saw profits soar in the second quarter thanks to strong mortgage growth and massive loan-loss provision reductions..... More »
The Latest in Mortgage News: Half of Canada’s Big Housing Markets Are Unaffordable
– canadianmortgagetrends.com
A new study of 15 major urban centres across Canada shows that housing unaffordability continues to be a major concern in nearly half of those markets. A median-income earner wouldn’t qualify for a mortgage large enough to fund their home purchase in seven key markets, including the Greater Vancouver and Toronto areas, Victoria, Hamilton-Burlington, Kitchener-Waterloo […]
