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
Bank CEOs weigh in on “vulnerable” mortgage clients + MORE Jan 12th
Canada's Big-Bank CEOs weighed this week in on the current state of their mortgage clients, including those they consider "vulnerable" in the event of a recession..... More »
Best Practices to Verify Your Clients’ Down Payments May 25th
Proving the source of your clients’ down payments can sometimes be the most time-consuming part of arranging a mortgage. Even when handled well, the process may sour the buyer experience. Your client will need to provide a comprehensive history of all the money earmarked for their down payment.... More »
Winding down self-employment and planning for retirement Aug 18th
Q. I am a 60-year-old female, working full-time employed/self employed on a 100% commission basis and averaging between $107,000 and $140,000 gross annual income.
I own my home, with a $70,000 balance left on my mortgage. My mortgage payment (not including property taxes) is $457 biweekly. The curre.... 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 »
Loanova prepares to launch Canada’s first fractional mortgage platform + MORE Nov 27th
The tech-driven startup plans to let everyday investors buy small stakes in syndicated mortgages, while helping borrowers who don’t qualify for traditional bank financing..... More »
CMHC forecasts moderation in Canadian housing market
– moneysense.ca
OTTAWA – The Canada Mortgage and Housing Corp. says it expects housing starts in 2015 will dip slightly compared with last year, but remain broadly in line with economic and demographic trends.The federal housing agency says housing starts are expected to decline by 1.0 per cent in 2015 compared with 2014 under its base-case scenario, while it expects Multiple Listing Service sales to stay the same and the MLS average price to increase by 1.5 per cent.
CMHC says it expects housing starts to range between 154,000 and 201,000 units in 2015, with a point forecast of 187,400 units.
The following year, the agency forecasts housing starts to range from 148,000 units to 203,000 units, with a point forecast of 185,100 units.
The agency expects MLS sales to range between 425,000 and 504,000 units in 2015, with a point forecast of 479,900 units.
In 2016, the CMHC forecasts resales to range from 410,000 units to 505,000 units, with a point forecast of 474,400 units.
The agency expects the average MLS price to be between $384,000 and $428,000 in 2015, with a point forecast of $414,200…
Rate Wars in the Broker Channel
– canadianmortgagetrends.com
Mark Kerzner, Special to CMT Competition in the mortgage origination market has benefited consumers, full stop. Two years ago I wrote this column. It provided evidence that a strong broker channel keeps lenders competitive, thereby benefiting consumers. The same holds true today. While broker share is approximately 30% of the total market, it operates as […]
