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Latest News
Pattie Lovett-Reid: Let the borrowing begin – responsibly - CTV News + MORE Aug 24th
Pattie Lovett-Reid: Let the borrowing begin – responsibly CTV NewsCanadians with lowest credit scores led wave of pandemic credit card debt repayment Yahoo Canada FinanceThe pandemic has Canadians paying down non-mortgage debt at fastest pace since 1980s CBC.caCana.... More »
Mortgage Borrowing Set a New Record in 2021 + MORE Mar 17th
The amount of mortgage debt taken on by Canadians set a fresh record in 2021, eclipsing the previous record set the year before..... More »
Renewing your mortgage? A guide for Canadians + MORE Oct 10th
More than two years have passed since interest rates took off in 2022, and though the Bank of Canada (BoC) has started backing down that ladder, holders on five-year fixed mortgages continue to face significantly higher rates and payments as their home loans come up for renewal. Even those currently.... More »
HomeEquity Bank raises $200M through CHIP Mortgage Trust note sale May 3rd
Oversubscribed issuance underscores investor demand for reverse mortgage-backed funding.... More »
Where to Buy Real Estate in Canada 2026: Calgary + MORE Apr 30th
When most people think of Calgary, they picture cowboys and oil. They’re not wrong, but they’re about a decade behind. Since 2018, Calgary’s tech sector has grown by 78%.
The city’s food scene spans everything from Ethiopian and Korean spots to farm‑to‑table restaurants,.... More »
Mortgage Borrowing Grew at its Fastest Monthly Pace Ever in June
– canadianmortgagetrends.com
Mortgage debt in Canada soared above $1.7 trillion in June, growing at a monthly pace never before seen, according to Statistics Canada. The new figures show mortgage debt grew 9.2% compared to the same time last year, a pace not seen since 2008, and jumped 1.37% since May, which StatCan noted is the largest monthly increase on record. In the first half of 2021, households have added $81.6 billion in mortgage debt, compared with $108.6 billion over all 12 months […]
Q2 Lender Earnings: Strong Results and a Positive Outlook for H2
– canadianmortgagetrends.com
Some of the country’s key mortgage lenders benefited from strong housing activity seen over the first half of the year, according to second-quarter earnings. While results were strong across the board, part of that was a function of weak Q2 2020 comparisons, which magnified gains this quarter. As First National President and COO Jason Ellis noted, growth rates in the first six months of 2021 “reflected a 2020 comparative period highlighted by significant economic uncertainty and financial disruption. In the […]
The MoneySense Guide to Debt Management: How to get out of debt
– moneysense.ca
Being in debt doesn’t mean you are terrible with money or bad at budgeting. Debt is affecting most Canadians right now, with many regularly paying less than the full balance on their credit card statements, perhaps deferring mortgage payments, or putting off home repairs, and more. If that sounds like you—how can you pay off debt fast? This guide will help you get started.
How much debt is Canada in?
You don’t need to be a finance expert to understand that the COVID-19 pandemic has changed how we use money (have you noticed how much more often you’re tapping your card instead of touching the keypad to enter your PIN?). It’s affected our borrowing, spending, debt repayment and saving habits, too.
Statistics Canada reports the average household’s debt-to-income ratio rose in 2020. This measures the household debt, in relation to disposable income. In the first three months of the year, the ratio stood at 175.4%, which, according to MoneySense contributor Alexandra Macqueen, “means that, across all Canadian households, in the first three months of 2020 we collectively owed $1…
How much debt is Canada in?
You don’t need to be a finance expert to understand that the COVID-19 pandemic has changed how we use money (have you noticed how much more often you’re tapping your card instead of touching the keypad to enter your PIN?). It’s affected our borrowing, spending, debt repayment and saving habits, too.
Statistics Canada reports the average household’s debt-to-income ratio rose in 2020. This measures the household debt, in relation to disposable income. In the first three months of the year, the ratio stood at 175.4%, which, according to MoneySense contributor Alexandra Macqueen, “means that, across all Canadian households, in the first three months of 2020 we collectively owed $1…
