Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
How To Navigate Three Common Mortgage Scenarios + MORE Aug 15th
It’s a confusing time to be a homeowner. Rates are up, and everyone has an opinion on what will happen next. It’s easy to get sucked into social media rabbit holes and make decisions motivated by fear. But at times like these, it’s crucial to block out the noise and do what’s right for you.
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Fixed mortgage rates in Canada resume their decline amid economic volatility Feb 5th
After a short-lived upswing in bond yields last month that nudged some fixed mortgage rates higher, lenders are once again bringing them back down..... More »
Reverse mortgages are cheaper than ever. Should you use one to tap into your home’s equity? + MORE Feb 25th
A reverse mortgage allows you to tap into the rising value of your home without selling it, writes David Aston. But watch out for the penalties and fees..... More »
Be Aware of Mortgage Penalties + MORE Nov 9th
Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap .... More »
The complete guide for first-time home buyers in Canada + MORE Mar 28th
Buying your first home is an exciting experience, but it can also be an overwhelming one—especially if you’re not sure where to start. That’s why we’ve outlined some simple steps that anyone shopping for a home should take, from figuring out what you can actually afford to getting pre-approv.... More »
Toronto, Prairie housing markets at high risk for correction: CMHC
– theglobeandmail.com
The Canada Mortgage and Housing Corporation warned that home prices are now outstripping economic fundamentals in 11 out of 15 major markets
What’s on the Minds of Lender Execs
– canadianmortgagetrends.com
Last month Scotiabank hosted its always-informative Financials Summit. Top brass from various lenders spoke at the event and each had a few sound bites of note. Here are some of the more notable ones: CIBC is working to take “paper and process” out of the mortgage system and get answers to mortgage clients more quickly, said President & CEO Victor Dodig. Scotiabank has “rapid lab” teams working to “reduce frictions” in its mortgage business. The bank’s pull-through rate, in terms of pre-approval to fulfillment, “was lower than we wanted” at 30-35%, said CEO Brian Porter. “We think we can get that READ MORE
Are CMHC Condo Stats Skewed?
– ratesupermarket.ca
Canada Mortgage and Housing Corp. (CMHC) has released its housing forecast for 2016 and 2017 and it’s not as rosy as homeowners have hoped. Although the CMHC doesn’t foresee a housing bubble, the crown corporation predicts housing prices will barely keep up with the rate of inflation over the next two years. This is good news for buyers… but not so great for those already in the market.
Oil Prices Impacting Some Provinces
The CMHC attributes much of the slowdown in housing to the declining price of oil. While housing activity has been given a boost from lower oil prices, a lower loonie and record low mortgage rates in Ontario and B.C., oil-rich provinces like Alberta have been struggling. The CMHC foresees the “counterbalancing effect” to slow down over time with price increases moderating.
Sales and Prices to Slow
Homeowners hoping to see their real estate values continue to skyrocket will be disappointed; CHMC predicts the average price of resale homes in Canada to reach $437,700 this year, a 7…
11 Housing Markets In Canada Are Overvalued: CMHC
– walletpop.ca
TORONTO — Canada Mortgage and Housing Corp. says it has detected overvaluation in 11 housing markets, with other concerns flagged in Toronto, Winnipeg, Saskatoon and Regina.
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
Overvaluation in 11 housing markets in Canada, CMHC report says
– canadianbusiness.com
TORONTO – Canada Mortgage and Housing Corp. says it has detected overvaluation in 11 housing markets, with other concerns flagged in Toronto, Winnipeg, Saskatoon and Regina.
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
