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
Mortgage Growth Slows, Alt-Lender Share Grows: CMHC Jul 17th
Canada’s mortgage market grew by its slowest pace in more than 25 years in 2018, according to new data released by the Canada Mortgage and Housing Corporation. At the same time, the share of the market controlled by alternative lenders—which typically lend to riskier clients and charge higher in.... More »
Bank of Canada expected to raise its key rate for first time in nearly seven years + MORE Jul 11th
The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in oil prices.
Low interest rates have helped fuel the housing market in recent years, incentivizing .... More »
Got a small mortgage? Why you’ll likely get a lousy rate + MORE Nov 22nd
Mortgage minimums are becoming more common. Unfair as it might seem, lenders may frown on those with big down payments and modest mortgage needs
.... More »
Latest in mortgage news: Mortgage rates keep surging higher + MORE Sep 29th
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise..... More »
Ottawa's housing market stable according to CMHC, national outlook less certain + MORE Oct 28th
Canada’s housing market watchdog sounded alarm bells about the price of housing in several markets across the country Wednesday, claiming that overvaluation and overbuilding in markets like Toronto and Vancouver are finally showing cause for concern. Canada Mortgage and Housing Corporation (CM.... More »
Your Black Friday 2014 Savings Guide
– ratesupermarket.ca
Today marks the official countdown to the holidays – and the push to spend, spend, spend. Black Friday has grown from its humble beginnings as a post-U.S. Thanksgiving sale to an international shopping bonanza.
Not only has the shopping event crossed the border to Canada, but the calendar as well – this year, retailers are ringing in the deals even sooner with Gray Thursday. It can be easy to get caught up in the seasonal madness – and spend more than you really want to. But have no fear – we have you covered, from selecting real deals to crossing the border for cheap.
In Personal Finance: Black Friday 2014 To Be Bigger Than Boxing Day
Are you ready for Black Friday 2014? A recent study finds the shopping holiday has grown so much, it now trumps Boxing Day in Canada. Read on for our top tips for scoring big ticket items and saving your time and money.
Read Sean’s Blog | Black Friday 2014 To Be Bigger Than Boxing Day
In Mortgages: Senior Home Buyers Are Fuelling the Market
First time home buyers may get all the attention, but it’s actually the senior segment that’s really driving Canada’s hot housing market, according to the CMHC’s 2014 Canadian Housing Observer…
Young family craves vacation retreat, but should they wait?
– theglobeandmail.com
Louis and Lena have a while to go until their mortgage and other loans are paid off. They wonder whether buying a cottage now will affect their retirement goal of $60,000 a year after tax
Senior Home Buyers Are Fuelling the Market: CMHC
– ratesupermarket.ca
In addition to providing mortgage insurance for homeowners with less than 20 per cent for a down payment, one of the Canada Mortgage and Housing Corporation’s (CHMC) roles is to monitor and analyze the country’s housing stock. The federal agency recently released two reports, the 12th annual 2014 Canadian Housing Observer and the House Price Analysis and Assessment. Here’s a closer look at some of the key findings.
Senior Spenders Leading Growth
While much attention is paid to the first-time homebuyers market (including on this blog!), it turns out that the baby boomers still lead the way in housing in Canada. According to the CMHC, “Because the probability of owning a home rises as people get older…population aging helps account for the virtually uninterrupted increase in the homeownership rate in Canada over the past four decades.” In fact, the 60- to 64-year-old age bracket – the oldest of the boomers – had the highest ratio of homeownership in the period between 2006 and 2001…
Mortgage Career: Direct Mortgage Inc.
– canadianmortgagetrends.com
Company: Direct Mortgage Inc. Position: Commercial Mortgage Agents Location: Toronto, Ontario Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Commercial Mortgage Agents Direct Mortgage Inc is looking for experienced commercial mortgage agents – loan officers, loan originators, etc. with previous sales success that will seek out new […]
OECD Predicts Rising Rates in May. Should Homeowners Worry?
– ratesupermarket.ca
Another voice has chimed into Canada’s interest rate discussion this week, stating central bank rates will start rising in May 2015. The remarks came from the Paris-based Organisation for Economic Co-operation and Development (OECD), and are in contrast to the stance taken by economists and the Bank of Canada itself. Most predictions are the benchmark interest rate will remain at 1 per cent and start to rise towards the end of 2015.
Canada’s real estate market has been under a great deal of scrutiny, with speculation over the past year that the market is overvalued and due for a sharp correction. The OECD’s latest remarks on Tuesday add to the yet-to-be proven forecast that Canada’s housing market is in trouble. But how should homeowners interpret the OECD mortgage rate predictions?
How Have Past Warnings Played Out?
The OECD’s stance is just the latest take on the health of our housing market; in 2013, a report from Deutsche Bank stated Canada has the most overvalued housing market in the world, with housing prices 60 per cent higher than they should be…
