Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Mortgage Brief…Bank of Canada doesn’t change rate.. + MORE Jul 17th
This week, the Bank of Canada Governor, Stephen Poloz, held rates steady. No increase or decrease. click here for BoC report. The Bank of Canada meets 8 times a year, at preset meeting dates. The Target Rate is used by Canadian Banks to set their Prime rate. This also affects Variable rate mo.... More »
Report: New Mortgage Stress Test Cutting 18% of Home Buyers Out of the Market Aug 7th
According to a new report by the Mortgage Professionals of Canada (MPC), new stricter mortgage rules are leaving 18 per cent of home buyers out of the market. The MPC report found that while many Canadian home buyers could afford to make monthly payments at the bank’s contract rate, the higher ba.... More »
Most mortgage borrowers to see payments rise 34% to 54% vs. early 2022: Bank of Canada + MORE Dec 22nd
If you had a mortgage as of February 2022, chances are you will be facing a payment increase before the end of 2025..... More »
Mortgage renewal strategies in today’s high interest rate environment + MORE May 10th
The current interest rate climate for mortgage brokers and their clients is dramatically different compared to just a year ago, requiring a whole new strategy when it comes to renewals..... More »
Liberal Win Will Boost Economy But Hurt The Rich, Bank Economists Say + MORE Oct 20th
Economists at some of Canada’s big banks are upgrading the country’s economic forecast in the wake of the Liberal Party’s sweeping victory in the election Monday.
But they warn that the Liberals’ planned deficit spending could result in interest rates rising sooner than expected, which cou.... More »
O’Leary Mortgages is No More
– canadianmortgagetrends.com
Canada’s most outspoken capitalist has pulled the plug on brokering. After a little over a year in the business, Kevin O’Leary’s mortgage operation has closed. Alex Kenjeev, President O’Leary Ventures,…
Young Canadians view home ownership as good investment: RBC poll
– moneysense.ca
TORONTO – More young Canadians believe owning a home is a very good investment, according to a new RBC home ownership poll.
It says 86 per cent of those aged 25-34 believe owning a house or condo is a solid investment, up from a reading of 78 per cent last year.
RBC says that attitude is also reflected in buying intentions, with interest from the 25-34 age group rising to 41 per cent in the latest poll compared to just 25 per cent in 2013.
The bank also says its poll reveals that while 62 per cent of Canadians intend to buy a home with their spouse or partner, 28 per cent Canadians say they intend to buy a home by themselves.
Top factors considered by those who intend to buy this year include job stability and manageable debt.
And, among those likely to buy a home within the next two years, RBC says four-in-10 will be first time homebuyers.
“The increase in the number of those who feel the housing market is a good investment, as well as the number of those who intend to buy, really highlights that Canadians have no doubt in the strength of the housing market, said Erica Nielson, RBC’s vice president of home equity finance…
It says 86 per cent of those aged 25-34 believe owning a house or condo is a solid investment, up from a reading of 78 per cent last year.
RBC says that attitude is also reflected in buying intentions, with interest from the 25-34 age group rising to 41 per cent in the latest poll compared to just 25 per cent in 2013.
The bank also says its poll reveals that while 62 per cent of Canadians intend to buy a home with their spouse or partner, 28 per cent Canadians say they intend to buy a home by themselves.
Top factors considered by those who intend to buy this year include job stability and manageable debt.
And, among those likely to buy a home within the next two years, RBC says four-in-10 will be first time homebuyers.
“The increase in the number of those who feel the housing market is a good investment, as well as the number of those who intend to buy, really highlights that Canadians have no doubt in the strength of the housing market, said Erica Nielson, RBC’s vice president of home equity finance…
Self-employed and can’t prove all income? There’s a new mortgage solution.
– canadamortgagenews.ca
IT STARTED WITH 2008 In 2008, the world experienced the U.S. sub-prime mortgage crisis. Financial markets and real estate values nose-dived around the world…. well, not everywhere. Some countries, like Canada, held their own. Most of Canada didn’t really suffer like the rest of the world. Call it luck, govt intervention, maybe being […]
Spring Mortgages: Get Em’ While They’re Hot?
– ratesupermarket.ca
RateSupermarket’s Expert Panel Questions Sustainability of Low Spring Rates
Time may be of the essence for home buyers looking to cash in on low spring mortgage rates. While some lenders have kicked off the home buying season with mortgage discounts, it’s questionable whether a low-rate environment can last, according to RateSupermarket’s monthly expert mortgage panel.
Global economic trends are anticipated to shift out of favour for safe haven bonds, driving yields and fixed rates higher. On the domestic front, there is no change anticipated from Canada’s central bank as growth factors continue to underperform, leaving variable mortgage rates untouched.
Fixed Mortgage Rates: Up
The typically competitive spring buying season is just heating up in Canada – and some lenders, such as BMO, have introduced discounted rates to kick off the action. However, the expert panel indicates changing global economic trends will counter the possibility of a competitively low interest rate environment as investors shift their focus from safe haven bonds, driving yields and fixed rates higher in the long term…
Regulator set to release new mortgage rules
– theglobeandmail.com
New guidelines for mortgage insurers could be released as soon as Friday
