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
Popularity of variable-rate mortgages plummets to pre-pandemic levels + MORE Jun 21st
The popularity of variable-rate mortgages is continuing to fall and is now nearly at levels last seen prior to the pandemic in early 2020..... More »
Can I get mortgage insurance if I’m on long-term disability? + MORE Jul 11th
Q: I just went on long-term disability but I’m worried. I didn’t get mortgage insurance, can I still get this type of insurance?
— D. Evans, Ontario
Steve Garganis, mortgage broker and editor of CanadaMortgageNews.ca:
The answer is probably not. However, to be sure, check with your ins.... More »
Going big in a tiny space + MORE Mar 4th
When she and her husband moved their family of four to Toronto last year, Tanya Frenette knew a small living space was in store: They had lived a cramped city life before, and in between had spent several years in Vancouver—hardly a mecca of mega-sized homes, either.
Tanya admits her North Toronto.... More »
Which Mortgage Features Are Right For You? + MORE Jul 25th
For most people, buying a house is the biggest decision they’ll ever make. So it’s no wonder that having to pay for thing over the next 25 or 30 years makes a lot of people pretty anxious.
After all, it’s a pretty intimidating transaction. First you have to assemble a stack of cash for the do.... More »
Mortgage affordability calculator + MORE Nov 19th
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Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a many factors—more on those later. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, you should start.... More »
Street Capital
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Regional Vice President, Vancouver Central 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. Duties and Responsibilities: ** Be advised that territories and their boundaries are subject to change and may vary depending upon the overall annual business & sales READ MORE
Street Capital
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Vice President, Western Canada Sales Location: Vancouver, B.C. or Calgary, AB Regional 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. 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
What are Bank of Canada Rates?
– ratesupermarket.ca
You’ve probably noticed that several times a year business reporters get excited about a pending announcement from the Bank of Canada on its “overnight lending rate”. They do so because any change in that figure can impact the interest rate the country’s banks charge their customers for mortgages and other loans. Here’s what you need to know about how and why the Bank of Canada guides interest rate policy.
The Overnight Lending Rate
At eight pre-determined dates a year – always on a Wednesday, at 10 a.m. Eastern Time – the Governor of the Bank of Canada makes an announcement about the overnight lending rate. This rate is what the country’s banks charge each other on funds they’re transferring between each other. But, more significantly, it’s what they use to base their “Prime lending rate” on. The prime lending rate is the figure that mortgages, lines of credit, and car loans are based on. (Mortgages are typically offered at a discounted percentage below the Prime rate while car and line of credit loans are charge a premium, “Prime plus” a certain percentage…
CMHC
– canadianmortgagetrends.com
Company: CMHC Position: Account Manager, Client Relations Location: Montreal, QC Account Manager, Client Relations Bring your communication skills and relationship building expertise to the position of Account Manager, Client Relations in Montréal. As a key member of the Client Relations team, you will promote and provide training and relevant information on mortgage loan insurance products and services, which will see you developing and maintaining effective business relationships with CMHC’s clients and stakeholders (primarily mortgage lenders and brokers, as well as realtors, builders and consumers) within your assigned portfolio. This full-time permanent position is an exceptional opportunity for an individual with READ MORE
3 Mortgage Marketing Tactics You Should Be Aware Of
– ratesupermarket.ca
Spring is always a competitive season for mortgage lenders, but this year is a true standout; lenders small and large (including the Bank of Canada) have cut rates, some to historic lows – five-year fixed options have dipped as low as 2.44 per cent in some provinces, and even Canada’s big banks are offering rates below the 3 per cent threshold.
In fact, things have gotten so hot, that lenders are getting creative with their discounts; not content to simply offer the lowest rate, we’ve seen a few tactics this year that put a new spin on mortgage marketing. Here’s a look at what’s been introduced in the market so far.
Click here to see the best mortgage rates in your region>
Big Banks Getting in on the Game
Usually it’s brokers and other smaller lenders who push the pricing envelope – but in March, BMO and TD made headlines by cutting their 5-year fixed rates to 2.79 per cent – the lowest ever for large federally-regulated banks (TD has since cut further to 2…
