Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
The Latest in Mortgage News: OSFI to Re-launch Review of the Uninsured Stress Test + MORE Apr 10th
Canada’s bank regulator has announced it will restart a review of the stress test rate on uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) said it will “resume its policy work on the minimum qualifying rate for uninsured mortgages by issuing a new co.... More »
The Latest in Mortgage News: CMHC to Review Investment Property Down Payments + MORE Jan 13th
It's no secret that the federal government is eyeing reforms to investment properties in an effort to help reel in runaway house prices..... More »
Refinancing your mortgage? Here’s why a professional home appraisal is step one + MORE Mar 28th
Before you refinance your mortgage, it’s important to know your home’s true value. A professional home appraisal gives you an accurate picture of the value of your property, helping you make smarter financial decisions from lowering your monthly payments to accessing equity to evaluating your re.... More »
Toronto housing market downturn to be short lived, federal housing agency says Jul 26th
The recent downturn in Toronto’s real estate market, brought on after Ontario introduced measures this spring including a foreign buyers’ tax, is expected to be brief, the federal housing agency said Wednesday.
Property prices in the city _ which fell from an average of $919,589 in April.... 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 »
Fighting Back Against Fees
– ratesupermarket.ca
When it comes to hidden surcharges and fees, Canadians are seeing red – and it’s no wonder, as our nation’s big banks have amped costs and cut back on services, according to a recent study. But it’s not all bad news – an ATM network provided by Canada’s alternative lenders and credit unions is expanding to bring fee-free cash access to thousands more. Read on for the full story.
Canadians Are Less Satisfied With Their Banks – JD Power
How happy are you with your bank? If the answer is “less than enthralled”, you’re not alone: the 10th edition of J.D. Power’s Canadian Retail Banking Customer Satisfaction Study finds Canadians overall are less content with their lenders than they were last year. Fees and a reduction in services top the list for consumer complaints. Get our full breakdown.
Read Penelope’s Blog | Canadians Are Less Satisfied With Their Banks
How An Income Suite Can Help You Qualify For a Mortgage
Buying a home with a rental income suite is a popular tactic for many new owners…
Street Capital Financial
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Regional Vice President, Saskatchewan & Manitoba Location: Saskatchewan & Manitoba Regional Vice President, Saskatchewan & Manitoba 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. Regional Vice President, Saskatchewan & Manitoba Duties and Responsibilities: ** Be advised that territories and their boundaries are subject to change and READ MORE
Steady US job gains likely foretell a new era: Higher loan rates for consumers and businesses
– canadianbusiness.com
WASHINGTON – A new era of higher rates on home and car loans, steeper borrowing costs for businesses and the government — maybe even a bit more return for savers — is about to arrive.
That, at least, is the word from most economists. After another solid U.S. jobs report Friday, they say the Federal Reserve seems all but sure to raise its short-term interest rate next month after keeping it pinned near zero for nearly seven years.
It would be the Fed’s first rate hike since 2006. And it would end the aggressive campaign the central bank began after the 2008 financial crisis to save a teetering banking system and energize an ailing economy. While it could take months, the Fed’s moves should eventually drive up interest rates for mortgages, auto loans and other consumer and business borrowing.
“The most advertised and anticipated play” is a Fed rate hike in September, David Kotok, chief executive at money management firm Cumberland Advisors, said Friday after the July jobs report showed that employers added 215,000 jobs and that the unemployment rate held at a nearly normal 5…
That, at least, is the word from most economists. After another solid U.S. jobs report Friday, they say the Federal Reserve seems all but sure to raise its short-term interest rate next month after keeping it pinned near zero for nearly seven years.
It would be the Fed’s first rate hike since 2006. And it would end the aggressive campaign the central bank began after the 2008 financial crisis to save a teetering banking system and energize an ailing economy. While it could take months, the Fed’s moves should eventually drive up interest rates for mortgages, auto loans and other consumer and business borrowing.
“The most advertised and anticipated play” is a Fed rate hike in September, David Kotok, chief executive at money management firm Cumberland Advisors, said Friday after the July jobs report showed that employers added 215,000 jobs and that the unemployment rate held at a nearly normal 5…
The Lower Bound for Rates
– canadianmortgagetrends.com
Many argue against variable-rate mortgages, given that rates “can’t drop much more.” But, while it’s true that rates are near the bottom, there’s still a question of “where’s the bottom?” The Bank of Canada’s floor for the overnight rate—the rate that drive prime rate—was previously established at 0.25%. It sat at that all-time low from April 2009 to June 2010. At the time, Governor Mark Carney said: “…We thought long and hard about where the effective lower bound was in Canada. Our judgment was—and it’s been validated, I think—that we could bring rates down to 25 basis points…and that markets would READ MORE
Dominion Lending Centres -Tri-Cities location
– canadianmortgagetrends.com
Company: Dominion Lending Centres -Tri-Cities location Position Title: Account Manager Years of Experience Required: 2 years Licences or Registrations Required: Yes, must obtain licence within four months of hiring Location of Position: Tri-Cities, B.C. Applicants may contact: stephanie@dominionlending.ca Account Manager A well-established mortgage broker team is looking for an Account Manager to support our continued growth. Duties/responsibilities include (not limited to) Diligently following systems and policies Client/associate follow up Administration – executing mortgage from inquiry completion and ongoing optimizing of the market/after service Handling inquires via phone/email/branch/public event Skills/Attributes Required Team player – does not let team down READ MORE
