The State of the Mortgage Market: 2020 + MORE Mar 14th

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Latest News

Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th

The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal..... More »

Can Mortgage Brokers Compete with Low Online Rates? Oct 23rd

As mortgage brokers, we should assume our clients and prospects have access to much of the same information we do. But sometimes they don’t, and in such cases we can focus on finding the best lender solution..... More »

What To Expect in 2023 Jan 6th

Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. B.... More »

Scotiabank not worried about its floating-rate portfolio Jun 28th

With variable rates rising by the month—and more hikes anticipated—observers are keeping a careful watch on adjustable-rate mortgages..... More »

Mortgage terms and closing costs leave many homebuyers confused, survey shows Dec 3rd

An Ownright survey of recent Ontario buyers shows that early financial confidence fades at closing, where unclear terms and unexpected costs are still tripping up many purchasers..... More »

The State of the Mortgage Market: 2020

– canadianmortgagetrends.com

Mortgage Professionals Canada has released its latest State of the Mortgage Market report today, which is chock full of new stats and insights into the Canadian mortgage market. Despite regular headlines about rising home prices and overvaluation in the country’s largest centres, the report finds that Canadians continue to see homeownership as an important element of their long-term financial plans. “Canadians have also remained prudent with their spending habits on housing, which is evidenced in today’s report,” notes author Will […]

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Canadians Are Picking Price Over Personalized Mortgage Advice

– ratesupermarket.ca

Canadian homebuyers are seeking the best mortgage price, even if that means sacrificing personalized mortgage advice, according to a recent survey conducted by Rates.ca. Of those mortgage shoppers, 63% admit they are open to using online lenders if the price is right.

How Low Can You Go?
Nearly half (45%) of mortgage shoppers say they would need to save at least 0.05 to 0.20 percentage points on the rate to use an online lender. While 18% of shoppers say they wouldn’t need any incentive. Only 16% of Canadians say they won’t use an online lender.
A further breakdown reveals just how much Canadians are hoping to save.

The Interest Rate Savings Needed to Sway Canadians to Use an Online Lender
Percentage of Canadians

0.05%-points
11%

0.10%-points
8%

0.15%-points
7%

0.20%-points or more
19%

Compare mortgage rates from Canada’s most-trusted lenders at RateSupermarket.ca.
Mortgage Shopping Key Considerations
When it comes to shopping for everyday items, brand names can play an important factor…

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