Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Mortgage market braces for impact as one million renewals loom and defaults climb + MORE Mar 16th
Canada’s mortgage market is rebounding, with new originations up 39% year-over-year, according to Equifax’s latest Q4 Consumer Trends report..... More »
Laurentian Bank’s review of problematic mortgages to finish in Q2 + MORE Mar 1st
MONTREAL _ Laurentian Bank expects to complete its review of problematic loans sold to an unnamed lender by the fiscal second quarter, and will fix or repurchase any remaining mortgages that failed to meet the proper criteria.
The Montreal-based lender _ which said late last year it discovered mortg.... More »
CMHC’s Siddall Warns Homeownership “Party” Coming to an End + MORE May 12th
The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership as a sole savings vehicle will come to an end. Evan Siddall made the comments during an interview with BNN Bloomberg’s Aman.... More »
Vancouver, Toronto Housing Crash Potential Has Regulator Requiring Banks To Prepare + MORE Jul 26th
OTTAWA — Canada's banking regulator is requiring banks to conduct stress tests to determine how they would deal with a 50 per cent downturn in Vancouver real estate prices and a 40 per cent cut in Toronto home prices.
The key changes announced Tuesday by the Office of the Superintendent of Financ.... More »
Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
The latest update to the Consumer Price Index (CPI) basket gives even more weight to shelter costs—particularly mortgage interest and rent—underscoring just how much housing expenses are shaping the inflation experience of Canadians..... More »
2015 Mortgage Forum Wrap-Up
– canadianmortgagetrends.com
Last week Mortgage Professionals Canada (formerly CAAMP) hosted the mortgage industry’s biggest annual gathering of mortgage professionals. The event took place at Metro Toronto Convention Centre, and was attended by 1,200+ brokers, lenders and suppliers. There were more than 70 Expo exhibitors and 540 attendees at the Hall of Fame/Awards Night. If you couldn’t make the event, here’s a roundup of conference highlights: CAAMP Expo Guests had two days to check out the 70+ exhibitors and their wares—not to mention seemingly endless prizes, food and more alcohol than we’ve ever seen at the Expo. (Multiple exhibitors were pouring beer and wine at their booths this year.) An READ MORE
In the long-running debate over whether or not Canada has a housing bubble, there was one thing almost all experts agreed on: Low interest rates are one of the major things — if not the major thing — holding up Canada’s high house prices.
Well, that pillar now appears to be evaporating. Interest rates are on the rise in Canada, market observers say, and some say the rate hikes have just begun.
With Canadians’ debt levels at record highs, households are particularly vulnerable to increases in their mortgage payments, experts say. Even relatively small increases in rates could put an end to years of strong growth in some of Canada’s largest housing markets.
Five-year fixed-rate mortgages — the most popular type in Canada — have risen by 0.2 percentage points in recent weeks, according to Integrated Mortgage Planners.
That’s a relatively small increase; it would amount to an extra $40 per month on a $400,000 mortgage, by the CBC’s calculations, but some experts see more hikes on the horizon…
CMHC 2015 First-Time Homebuyers Survey Results
– ratesupermarket.ca
The Canada Mortgage and Housing Corporation (CMHC) recently released the results of an online survey it conducted with 788 Canadians who had purchased their first home – and taken on their first mortgage – within the previous 12 months. Here we recap some of the key findings, and offer some tips for those still in the hunt.
Mortgage Answers Found Online
Given that first-time buyers tend to be younger, it won’t come as any surprise that the vast majority (83 per cent) used online resources when researching their mortgage options. About half (53 per cent) said they visited lender websites, and about one-third used real estate agency sites (36 per cent) or mortgage brokers’ online offerings (31 per cent).
By far the most popular online tool to use was a mortgage calculator, with 84 per cent saying they used one. Comparing various mortgages was the next-most common activity.
Thumbs Down For Social Media Sources
Social media wasn’t a particularly popular venue for researching mortgages, with only 37 per cent saying they used it as tool…
Canadian mortgage rates have bounced up from their record lows of this summer in anticipation of an improving economy prompting central banks to do the same.
Mortgage rates went up…. but why? And will they continue to go up?
– canadamortgagenews.ca
A month ago, I said Fixed mortgage rates probably hit the bottom. A week later, fixed mortgage rates started to go up… around 0.20% over the past 3 weeks. Variable rate mortgage pricing has gone from Prime less 0.65% to Prime less Prime less 0.40%. Now, here’s the thing…. I don’t think rates will […]
