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
Is this frugal Toronto artist’s $70,000 in savings enough for her to buy a property in the U.S.? Jul 3rd
If Joy were to buy a house in the U.S., writes financial expert Jason Heath, it’s probably best she get a pre-approved a mortgage before house hunting..... More »
How to prepare for a 2023 recession + MORE Nov 19th
The Great Recession scarred me. I was just about to graduate from university in 2008 when it hit: The fallout from the subprime mortgage crisis created a deluge of fear, anxiety and pure panic from all corners. The S&P 500 plunged by 57%, U.S. gross domestic product (GDP) declined by 3.8% and em.... More »
TMG The Mortgage Group announces strategic partnership with Mortgage Outlet Sep 10th
TMG The Mortgage Group, one of Canada’s largest mortgage brokerages, has announced a new partnership with Ontario-based Mortgage Outlet..... More »
Latest in Mortgage News: Toronto Home Prices Set July Record Aug 9th
The rebound for Toronto home prices continued in July, with the average selling price reaching a record $943,710. That’s a 16.9% increase compared to a year earlier, according to the Toronto Regional Real Estate Board (TRREB). Home sales in the Greater Toronto Area were up 29.5% in July compar.... More »
Good habits that can help you improve your credit score + MORE Jan 1st
You probably know you should care about your credit score, but do you know why? Simply put, this three-digit number can either help or hurt you in your journey towards financial wellbeing—and it can have far-reaching effects.
Your credit score affects your chances of getting approved for a cre.... More »
Canadians fall deeper into debt
– moneysense.ca
(Mike Kemp/Getty Images)If the Bank of Canada was hoping its low-interest rate policy would encourage spending it can relax—it’s working. Canadians are adding to their debt levels at a dizzying rate.
According to TransUnion’s latest credit trends report, the average consumer debt, excluding mortgages, rose 2.3% in the fourth quarter to $21,428. It’s a sharp reversal from a year earlier when Canadians were paying down their debt faster than they were adding to it. Jason Wang, TransUnion’s director of research in Canada, doesn’t expect this trend to reverse again any time soon given the recent rate cut by the Bank of Canada, which makes borrowing more affordable.
While consumer debt levels are rising nationally, there are a few cities bucking the trend. Consumer debt levels in Calgary and Edmonton fell 0.59% and 0.11% respectively in the latest quarter, although consumers in those cities remain the most indebted in the country. In Calgary the average consumer debt balance, excluding mortgages, is $28,751 while in Edmonton the average consumer owes $24,651…
Street Capital Financial
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Vice President, Western Canada Sales Location: Vancouver B.C. or Calgary, AB Vice President, Western Canada Sales Street Capital Financial is a Canadian-owned and operated residential mortgage lender. Street Capital lends through a mortgage broker specific origination channel. Street Capital is dedicated to growing loan origination through this channel and is committed to innovative product development. Our employees are focused on providing world class service to clients, business partners and referral sources. Vice President, Western Canada Sales You have the drive, leadership, business acumen and sales talent. Street Capital has the agility, creativity, keys to your READ MORE
Temps Rise, Rates Drop
– ratesupermarket.ca
Are you ready for the busiest home-buying season of the year? Spring has certainly sprung for the Canadian real estate market, as open houses pop up faster than the crocuses. Perhaps the most telling sign: Bank of Montreal, the big-bank trendsetter, has introduced a “March miracle”: a history-making rate for new mortgage borrowers that has since been matched by TD.
Meanwhile, the Canadian economy continues to absorb the impact from record-low oil prices – and not all provinces will emerge unscathed. Read on for the full story.
BMO Drops Their 5-Year Fixed Mortgage Rate to 2.79%
The first real sign of the spring buying season has arrived – BMO has introduced an aggressively low mortgage rate special for 5-year fixed term shoppers. Clocking in a 2.79 per cent, it is the lowest 5-year rate ever posted by one of Canada’s big banks – and TD has since matched it. What does this mean for those currently on the hunt for a mortgage?
Read Penelope’s Blog | BMO Drops Their 5-Year Fixed Mortgage Rate to 2…
B2B Bank Mortgages
– canadianmortgagetrends.com
Company: B2B Bank Mortgages Position: Senior Manager, National Mortgage Sales Location: Suburban Vancouver, B.C. Senior Manager, National Mortgage Sales POSITION: Business Development Manager – Mortgages (Vancouver) LEVEL: 6 DEPARTMENT: Mortgage Business Development TRANSIT: 834 JOB CODE: V262 REPORTS TO: Sr. Manager, National Mortgage Sales NOTE: This role is based in Suburban Vancouver, British Columbia and will support Interior British Columbia Position Summary: The mandate of the role is to market B2B Bank Mortgages to all licensed Mortgage Brokers within an assigned territory. The incumbent will seek out new business READ MORE
Street Capital Financial
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Regional Vice President Location: Vancouver, B.C. Regional Vice President, Vancouver Central Street Capital Financial is a Canadian-owned and operated residential mortgage lender. Street Capital lends through a mortgage broker specific origination channel. Street Capital is dedicated to growing loan origination through this channel and is committed to innovative product development. Our employees are focused on providing world class service to clients, business partners and referral sources. Vice President, Western Canada Sales You have the drive, leadership, business acumen and sales talent. Street Capital has the agility, creativity, keys to your financial success and entrepreneurial vision. READ MORE
