Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Canada’s Best Credit Cards for People with Bad Credit 2020 Jul 19th
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. But if you want to improve your credit score you’ll have to show you can handle credit responsibly—and the only way to do that is (you guessed it) to have a credit card. Used properly, it .... More »
How much does life insurance cost in Canada? + MORE Mar 23rd
Life insurance is often touted as the financial safety net we all need, but what if it’s an added expense you’re not sure you can afford? If that’s your thinking, you’re far from alone—a 2019 study showed that most Canadians are underinsured, with 49% having never purchased life insurance.... More »
CMHC’s Siddall Defends Policies, Provides Update on the FTHBI + MORE Nov 24th
For the second year, Evan Siddall, President and CEO of the Canada Mortgage and Housing Corporation, attended the National Mortgage Conference in Toronto to defend and provide updates on the agency’s programs and policies. He participated in a candid on-stage chat with Mortgage Professionals Canad.... More »
Latest in mortgage news: 50% of Canadians say high interest rates are negatively impacting their love life Feb 14th
As Cupid readies his arrows for Valentine's Day, a new survey has uncovered that high interest rates are taking their toll on Canadians' romantic life.... More »
Prime Rate to Fall as BoC Delivers Second Emergency Rate Cut + MORE Mar 29th
It’s official, Canada’s prime rate will fall to 2.45% following the Bank of Canada’s emergency rate cut on Friday. RBC once again led the way by confirming it would match the BoC’s 50-bps rate cut by dropping its prime rate to 2.45%. Scotiabank, TD, BMO and CIBC then followed in quick succes.... More »
Bond Yields are up… will Fixed Mortgage rates follow?
– canadamortgagenews.ca
Fixed mortgage rates are tied closely to the Govt of Cda bond yields. And bond yields are up… Since mid April, the 5 yr Gov of Cda bond yield has gone from 0.75% to 1.07%. That’s a 0.32% jump. Normally, we would see fixed mortgage rates go up. So far, no increase. […]
Financial Services Commission of Ontario
– canadianmortgagetrends.com
Company: FSCO Position: Policy Manager, MBRCC Location: Toronto, ON Policy Manager, MBRCC On behalf of the Mortgage Broker Regulators’ Council of Canada (MBRCC), the Regulatory Coordination Branch of the Financial Services Commission of Ontario (FSCO) seeks a highly committed, innovative, motivated and results-oriented individual to assume a national role as Policy Manager of the MBRCC Secretariat. What can I expect to do in this role? In this role, the Policy Manager will: provide expert advisory services and policy recommendations on cross-jurisdictional mortgage broker regulatory issues to members of MBRCC and its committees support all MBRCC initiatives and activities as READ MORE
Your Biggest Mortgage Misconceptions
– ratesupermarket.ca
Are you a savvy home buyer… Or do you have your head in the sand? Despite the gravity Canadians place on home ownership (92% felt it’s an important life milestone in our recent survey), a surprisingly large number of us are still unclear on the home buying process.
This week, we’ve explored some of the biggest mortgage misconceptions: from reading your agreement to avoiding a bidding war, read on to learn more.
How a Bidding War Can Cost You Your Mortgage
In Canada’s hottest markets, engaging in a bidding war when house hunting is the norm. But your bank may not agree with your new home’s value – and they won’t cough up the funds you need for a mortgage. Here’s what you need to know about bidding wars, and when to walk away from one.
Read Allan’s Blog | How a Bidding War Can Cost You Your Mortgage
May Mortgage Rates to Rise Amid Global Bond Sell Off
Well… those record lows couldn’t stick around forever. Fixed mortgage rates may be in for a small hike this month as bond yields rise, according to our expert Mortgage Rate Outlook Panel…
Broker Market Share – Q1 2015
– canadianmortgagetrends.com
First-quarter market share data is in and the numbers are strong. Volumes in the mortgage broker channel are up 21% from the same time last year, according to D+H data provided by sources. The split of variable-rate mortgages increased noticeably as well, to roughly 28% of brokered mortgages at the end of March. That’s almost a three-year high. Variable mortgages had their biggest share back in May 2011 (our records go back six years), when roughly 44% of broker customers chose floating-rate mortgages. Here’s a look at the market share for leaders in the broker space as of first-quarter 2015… Rank Lender Market Share* 12 Mo Change 1 READ MORE
