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Latest News
CMHC reports annual pace of housing starts up eight per cent in October Nov 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October rose eight per cent compared with September..... More »
Reverse mortgages are booming amid Canada’s turbulent rate environment + MORE Jan 31st
High rates haven't stopped Canadians from tapping their home equity by way of reverse mortgages..... More »
Top Performers: Collin Bruce + MORE May 27th
By Vanessa Chris, Special to CMT Collin Bruce attributes his success in the mortgage brokering industry to one simple element: necessity. When he first started out—following a career in commercial lending, two failed Subway franchises and a stint in house-flipping—he was up to his eyeballs in de.... More »
Mortgage Digest: Bond yield spike drives latest fixed mortgage rate hikes of up to 30 bps + MORE Mar 22nd
Markets are rapidly repricing inflation and rate expectations, driving bond yields higher and triggering a new round of fixed mortgage increases.... More »
Canada faces $400 mortgage payment spike: How banks are preparing for the renewal storm + MORE Oct 31st
With nearly half of mortgages set to reset by 2026, Canada’s banks say strong borrower equity and falling rates will cushion households, even as arrears edge higher and affordability remains strained..... More »
Xceed Mortgage Corporation
– canadianmortgagetrends.com
Company: Xceed Mortgage Corporation Position: Business Development Manager Location: Vancouver, British Columbia Business Development Manager | British Columbia & Manitoba MCAN Mortgage Corporation is a public company listed on the TSX under the symbol MKP since 1991. MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages focused on single-family residential and residential construction loans, as well as other types of loans and investments, real estate and securitization investments. MCAN is the only publicly listed Mortgage Investment Corporation that is regulated by the Office of the Superintendent of Financial Institutions. READ MORE
Half Of Canada's Housing Markets Now ‘Very Weak': BMO
– walletpop.ca
Even as the Bank of Montreal lowers mortgage rates in what has become a traditional springtime mortgage rate war, the bank’s research division is warning that half of Canada’s housing major housing markets are “very weak.”
BMO’s housing market scorecard slaps that label on 10 of 22 housing markets, including Calgary, Edmonton and Ottawa, with another three markets, including Montreal, just called “weak.”
Only three markets are ranked as “strong,” and all three are previously depressed housing markets in Ontario’s rust belt — Hamilton, St. Catharines and Windsor.
The remainder, including Toronto and Vancouver, are labelled as “balanced.”
The BMO analysis compares home sales and prices against that city’s historic norms to determine whether the market is ‘weak” or “strong.”
With housing markets across the country going in different directions, “location has become increasingly important,” BMO senior economist Robert Kavcic writes.
That applies even within cities…
Bank of Montreal said Tuesday it is lowering the interest rates on its five-year, fixed-term mortgage, effective immediately, to 2.79%
BMO cuts key mortgage rate amid fears of lofty housing market
– theglobeandmail.com
Cutting its five-year fixed mortgage rate to 2.79 per cent from 2.99 per cent
MCAP Value-Flex – Mortgage of the Year
– canadianmortgagetrends.com
Each year CMT selects the new mortgage from the prior year that had the most positive impact on the mortgage market. This year’s choice was relatively easy, for two reasons. For one, there weren’t many innovative products launched in 2014. But more importantly, there was clearly no new product that had as much effect on consumers as MCAP’s Value-Flex. The Value-Flex came to market loaded with features, including a 20% annual lump-sum prepayment option, optional 20% annual payment increases, a fair penalty (for early termination), portability, blend and increase ability, online account access, a purchase plus improvements option and convertibility (on the variable-rate READ MORE
