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
Should retirees consider a home equity sharing agreement (HESA)? + MORE Jan 30th
Toronto-based Clay Financial recently began accepting applications for a new home equity product called a home equity sharing agreement, or HESA—not to be confused with the HISA, which stands for high-interest savings account.
Clay raised seed funding in 2023 and is initially launching the prod.... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Jun 20th
The Bank of Canada made a long-awaited rate cut on June 5, but the effects of lower mortgage rates have yet to trickle down into housing market data. That was evident in May, as real estate affordability continued to worsen for would-be home buyers.
The latest monthly affordability report from Ra.... More »
FSRA CEO Mark White to step down for new position as Chair of Ontario Energy Board Jul 5th
The head of Ontario's mortgage broker regulator, Mark White, has confirmed he will be stepping down from his role as CEO later this month..... More »
Strong payment discipline masks growing mortgage stress, survey finds + MORE Mar 25th
Despite strong payment performance, a growing share of borrowers report difficulty keeping up and are cutting back on spending to stay current.... More »
Even with expected rate cuts, mortgage payments will continue to rise for years: BoC research Jan 9th
Despite anticipated Bank of Canada interest rate cuts later this year, mortgage borrowers will continue to face higher debt-servicing costs for several years..... More »
BoC rate hikes among the leading contributors of inflation now due to mortgage costs
– canadianmortgagetrends.com
The country’s inflation rate may be coming down, but there are still some parts of the economy exerting upward pressure, including, ironically, high inflation rates.
OSFI considering the need for additional regulations on existing mortgages
– canadianmortgagetrends.com
Canada’s banking regulator says it is considering whether to extend the scope of its mortgage guidelines to include existing mortgages. In its second Annual Risk Outlook released this week, the Office of the Superintendent of Financial Institutions (OSFI) said it will “consider the scope of Guideline B-20, which currently focuses on mortgage origination, and assess whether expectations should extend to principles for management of existing mortgage accounts and incorporate more recent supervisory insights.” OSFI’s existing regulatory guidelines apply to all […]
Bank of Canada watching trend of longer amortization periods among borrowers
– canadianmortgagetrends.com
The Bank of Canada is investigating a growing trend of borrowers extending their mortgage amortization periods amid persistently high interest rates and ongoing inflationary pressures.
