Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
OSFI considering the need for additional regulations on existing mortgages + MORE Apr 22nd
Canada’s banking regulator says it is considering whether to extend the scope of its mortgage guidelines to include existing mortgages. In its second Annual Risk Outlook released this week, the Office of the Superintendent of Financial Institutions (OSFI) said it will “consider the scope of .... More »
The big question on mortgage borrowers’ minds: fixed or variable? Feb 15th
With variable mortgage rates potentially at a peak and fixed rates having recently retreated, borrowers are asking themselves the age old mortgage question: should you go fixed or variable?.... More »
No October Scare in Sight for Mortgage Rates + MORE Oct 5th
RateSupermarket.ca’s Expert Panel Calls for Fixed and Variable-Rate Consistency
Looking to buy a home in the off-season? The approach of the holidays may slow buyers’ voracious real estate appetites, but this summer’s sizzling rates are expected to stick around. A consistent bond .... More »
Mortgage terms and closing costs leave many homebuyers confused, survey shows Dec 3rd
An Ownright survey of recent Ontario buyers shows that early financial confidence fades at closing, where unclear terms and unexpected costs are still tripping up many purchasers..... More »
MIC Trade Show Goes Virtual Jan 16th
Despite a nearly 50-year history in Canada, Mortgage Investment Corporations—or MICS—still remain relatively unknown among many brokers and borrowers alike. But for the past several years, Mortgage Professionals Canada and the Ontario Mortgage Investment Companies Association (ONMICA) have partn.... More »
Search Mortgage Corp.
– canadianmortgagetrends.com
Company: Search Mortgage Corp. Lic #12652 Position: Mortgage Agent Location: Greater Toronto Area, ON Mortgage Agent Years of Experience Required: 1 year or no experience if you have a strong sales, mortgage or banking background. Are licences or Registrations Required? No City of Job: Mobile Mortgage Agent within the GTA. Training is mandatory at our Mississauga location. Interested Candidates May Submit Resume To: Info@SearchMortgage.ca Busy real estate brokerage has just opened a residential mortgage brokerage and needs 5 full time mortgage agents to handle their incoming leads. Leads come in a form of home buyer leads inquiring on READ MORE
Can this couple make a savings plan for now, and down the road?
– theglobeandmail.com
Laura and Liam want to take a vacation, buy a new car and pay down their mortgage, but don’t want to sacrifice retirement-spending goals
TFSAs for young savers
– moneysense.ca
@media all and (min-width: 1008px) and (max-width: 1264px) {
.tab-nav li.menu-item a{
padding: 22px 18px;
}
}
At just 23, and with no mortgage and no dependents, Blair is able to sock away about half his paycheque. He’s set up a TFSA at a discount brokerage and makes automatic contributions to a portfolio of low-cost mutual funds. (Photograph by Jaime Hogge)
Blair Stiver knows something about crunching numbers. The 23-year-old from King City, Ont., is a newly minted graduate in accounting and is now working as a bookkeeper for a nearby printing company. He’s even built a spreadsheet plotting out a three-year plan for his TFSA. “I want to get as much in there as I can now to give it more time to grow.” For young people just starting their careers, the TFSA offers something their parents never enjoyed: the possibility of building a retirement nest-egg that will grow entirely tax-free. Not only might they be able to avoid investing in taxable accounts, they might never even need an RRSP…
Where Banks Fall Short
– canadianmortgagetrends.com
Three out of four Canadian bank customers say their primary bank fails to meet their expectations. That’s according to a recent survey by FIS, whose findings identify key areas where banks must improve. Banks get high marks for things like in-person service, convenience and online connectivity, but fall short in terms of fairness of fees, following through on promises, rewarding loyalty and transparency of pricing. These shortcomings are something to heed for all bank challengers, including mortgage brokers and credit unions. As a whole, Canadian banks got a 76 out of 100 satisfaction rating (with 100 being the goal). Credit READ MORE
Firmwide Data From DLC
– canadianmortgagetrends.com
As the largest mortgage broker firm in Canada, Dominion Lending Centres (DLC) collects loads of valuable statistics. So when we asked for data on how mortgage rate buydowns are affecting brokers, we were very happy it obliged. Here is some of the information the company provided to CMT. Note: These figures do not include Mortgage Centre Canada, which is owned by DLC: The above numbers highlight some notable trends: There’s been only a slight downtrend in broker compensation per deal, suggesting pressure on brokers to buy down mortgage rates has been less than first thought. Since the bulk of successful brokers are READ MORE
