Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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How's my rate? + MORE Feb 1st
You’re two years into your mortgage term. You’ve got a great rate, or so you thought? But now you aren’t sure. With so much talk about record low interest rates, you begin to question. Maybe there’s a better deal out there? Did you choose the right product and lender? Has you.... More »
Taking on a “Fraction” of the Cost; Vancouver Start-Up Promises a Better Incentive for Home Buyers than CMHC + MORE Apr 2nd
An incentive for first-time home buyers offered through the Canadian Mortgage Housing Corporation (CMHC) was only announced a week ago, promising to provide $1.25 billion over three years to help lower mortgage costs for eligible Canadians.
However, a new company is now also promising to provide an.... More »
HomeEquity Bank raises $200M through CHIP Mortgage Trust note sale May 3rd
Oversubscribed issuance underscores investor demand for reverse mortgage-backed funding.... More »
1.4 million Canadians missed a credit payment in second quarter + MORE Aug 20th
There’s a deepening divide among consumers, even as the rate of missed credit payments dipped, a new Equifax Canada report shows.
It shows 1.4 million Canadians missed a credit payment in the second quarter. While that’s up by 118,000 compared with the same time last year, it’s down sligh.... More »
Opinion: When competition crosses a line in mortgage brokering Oct 16th
Every so often, a situation comes along that reminds us of a darker side of mortgage brokering. Most of the time, competition is healthy. But sometimes, it crosses a line; not legally, but ethically..... More »
CMHC August Housing Starts Reach 2012 Highs
– ratesupermarket.ca
Canada may be suffering from a mild recession, but the red-hot real estate market continues to shine. Canada Mortgage and Housing Corporation’s (CMHC) latest housing starts report has found new construction has outpaced predictions, and has actually doubled in Ontario month over month, as Toronto condo demand fuels new developments.
CMHC August housing starts were up an impressive 12 per cent. At a seasonally adjusted pace, 216,924 units were started, from the revised 193,253 in July – the highest level of increase, dating back almost two years to September 2012. It also beats economists median forecast of 190,500 units in a Bloomberg News survey.
Click here to view the best mortgage rates in your region>
Urban Demand Won’t Back Down
The numbers speak for themselves. Housing starts in Ontario’s city centres nearly doubled, up an impressive 89 per cent to 92,422 units in August. The majority of growth was seen in condos – multi-unit starts increased to 142,927 nationally, marking the highest level dating back to April 2012…
These clients broke their mortgage, paid a penalty, and still saved between $9,000 and $26,000!
– canadamortgagenews.ca
Fixed mortgage rates are at an all-time low. If you have a mortgage that is over 3.09%, then you should consider breaking it, paying the penalty and getting into today’s lower rates. That’s short answer… the full answer is a little more complex but, it’s really just simple math. If the savings is greater […]
Canadian Association of Mortgage Professionals
– canadianmortgagetrends.com
Company: Canadian Association of Mortgage Professionals (CAAMP) Position: Chief Executive Officer Location: Toronto, ON Chief Executive Officer The Canadian Association of Accredited Mortgage Professionals (CAAMP) is the recognized voice of Canada’s mortgage broker channel, and the leading authority on mortgage issues. With members from coast to coast, the industry is an important economic driver of the economy, with over $1 trillion in mortgages outstanding. For over 20 years, CAAMP members have realized the dreams of homeownership for hundreds of thousands of Canadians, while maintaining the highest standard of ethical and professional service to clients. It is within this dynamic context READ MORE
