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Latest News
The latest in mortgage news: National Bank among first to offer First Home Savings Account Apr 19th
National Bank has become one of the first of the big banks to make the new First Home Savings Account (FHSA) available to its clients..... More »
AKAL launches AKAL Canada brand to drive national expansion Sep 25th
After 25 years training brokers in Ontario, AKAL Mortgages is extending its model across the country with the launch of AKAL Canada..... More »
Mortgage industry reps provide feds with proposals to address housing affordability Nov 13th
Representatives from Canada's mortgage industry presented the federal government with several proposals they say will help address the country's housing affordability crisis..... More »
CMHC reports annual pace of housing starts in April up from March May 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts for April rose 17% compared with March..... More »
RBC says it’s ready for competitive spring mortgage market and upcoming renewal wave Mar 4th
As the spring mortgage market approaches, Canada's largest bank says it's getting ready for a busy season of mortgage renewals..... More »
One quarter of TD mortgages now have an amortization of 35+ years
– canadianmortgagetrends.com
Over a quarter of TD Bank’s residential mortgage portfolio now has an effective amortization of 35 years or longer.
BMO: No issues with mortgage renewals at this time
– canadianmortgagetrends.com
The Bank of Montreal (BMO) is the latest of Canada’s big banks to confirm most of its mortgage clients haven’t yet experienced challenges with their renewals. The comments came as part of the bank’s fourth-quarter earnings results, in which it reported a 12% increase in residential mortgage volumes. Chief Risk Officer Piyush Agrawal said the bank’s delinquency rates remain low at this time, and that just 12% of its portfolio will come up for renewal in the next 12 months. […]
CIBC mortgage amortizations soar given its heavy weighting of variable-rate mortgages
– canadianmortgagetrends.com
With a third of its mortgage portfolio having variable rates, CIBC saw its amortizations soar as of the fourth quarter.
