Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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FICOM Announces Comp Disclosure Plans May 3rd
B.C.’s mortgage broker regulator, FICOM, updated the industry Friday on the contentious new compensation disclosure guideline. (More on that contention) FICOM said it processed 70+ comments about the new policy. Here’s what it concluded: Simpler Disclosures are Better The Mortgage Brokers Ac.... More »
Latest in Mortgage News: Newton to Provide Free TransUnion Access to its 6,000+ Velocity Users + MORE Jun 28th
Starting today, the more than 6,000 mortgage brokers who use the Velocity mortgage operating system will gain free access to TransUnion credit reports for the remainder of the year. The offer is part of a campaign by Newton Connectivity Systems, which operates Velocity, to encourage greater diversif.... More »
Mortgage Career: Westboro Management Ltd. + MORE May 21st
Company: Westboro Management Ltd. Position: Business Development Manager Location: Ottawa/Gatineau, ON Apply to: monique@westboromic.com Business Development Manager Status: Permanent, Full-Time Salary: TBN Hours: Standard (Flexible Hours may be required) Contact: Monique Terriah Contact Ema.... More »
Should retirees pay off their mortgages with investments? + MORE Nov 28th
Ask MoneySense
I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are low possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank who holds my mortgage. What do you think?
–Li.... More »
National Housing Update: How the Real Estate Industry is Faring One Month into 2019 + MORE Feb 16th
Real estate news is typically quiet in January, but there’s been quite a few developments as of late. To quickly recap, Canadian real estate in 2018 ended with four consecutive months of sales declines. Overall, there was a drop of 11 per cent nationwide, with the 2.5 per cent drop from November .... More »
CUs: A Lower Bar on Qualification Rates
– canadianmortgagetrends.com
Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate. That rule applied to mortgages…
How The Great Canadian Shrinking Family Will Affect The 2014 Housing Market
– ratesupermarket.ca
Canadian homes are shrinking – but not in square footage! Rather, the number of people occupying the average home is dwindling.
According to the Canadian Housing Observer released by Canada Mortgage and Housing Corporation (CMHC) the average Canadian household has a population of 2.5. That’s down from 3.5 40 years ago. The report, which outlines what’s to come for the 2014 housing market, also points out a sharp rise in single-family residences. CMHC is predicting 2014 will be a good year for the Canadian housing market – here’s how the new home reality fits in.
Your Typical Home Buyer
The majority of Canadians are still buying single-detached houses, according to CMHC. Fifty five percent of homes purchased in 2011 fit these criteria. Now, though, there are more single people and couples with one or no children occupying these dwellings.
However, just because families are shrinking doesn’t mean the demand for size has. States the report, “In 2011, 72 per cent of couples with children lived in single-detached houses compared to just 33 per cent of one-person households…
