Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Laurentian Bank slips to loss as mortgage book shrinks + MORE Mar 10th
Residential book declines amid softer housing activity while commercial lending expands as the bank pushes ahead with its transformation strategy.... More »
Can Mortgage Brokers Compete with Low Online Rates? Oct 23rd
As mortgage brokers, we should assume our clients and prospects have access to much of the same information we do. But sometimes they don’t, and in such cases we can focus on finding the best lender solution..... More »
Advice for cash-strapped renters and landlords during COVID-19 + MORE May 17th
When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
Broker Market Share – Q4 2014 + MORE Mar 26th
We just got our paws on year-end market share data for lenders in the broker channel. One stat jumped out in big neon lights. According to D+H data obtained from a source, the mortgage broker channel funded about 25% more volume in the fourth quarter of 2014 than one year prior. That’s a mas.... More »
What does the new Canadian Mortgage Charter mean for home owners? + MORE Dec 10th
In its 2023 Fall Economic Statement, the federal government announced the Canadian Mortgage Charter. It’s a new initiative intended to address the housing affordability issues caused by rising interest rates, low housing supply and more. The charter, which sets out expectations for lenders, is the.... More »
Q1 2015 Bank Earnings – Mortgage Morsels
– canadianmortgagetrends.com
Canada’s big banks defied expectations for first-quarter earnings, despite the collapse in oil prices and its spinoff effects on consumer credit. In their conference calls, the banks addressed concerns about their exposure to Alberta’s housing market. They reassured analysts that they are actively stress-testing their portfolios given the possibility for sustained low oil prices and increasing unemployment in the province. “We have determined that the potential losses would still be manageable and within our risk appetite,” said one executive at RBC, which has 19% of its portfolio in Alberta. RBC was also in the hot seat for leading the banks in only READ MORE
$22,500 savings by breaking mortgage and getting into today’s low rates!
– canadamortgagenews.ca
A few weeks ago, I posted an article about one of my readers that had the potential to save $15,000 by breaking the mortgage and getting into a new 5 year fixed rate. This was a net savings. The actual savings was just over $20,000 less the penalty of $5,000. This week, we had […]
