Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Incorporate Balance Transfer Offers into Your Arsenal Oct 20th
As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers..... More »
Fixed-rate borrowers face up to 20% payment hikes at renewal, BoC warns Jul 23rd
Bank of Canada data shows fixed-rate borrowers face the steepest payment hikes this year and next, but not all mortgage holders are in the same boat.... More »
What happens when your landlord misses mortgage payments? + MORE Jun 11th
You held up your end of the bargain and paid your rent on time—only to learn your landlord failed to keep up with mortgage payments and the home may need to be sold. Panic sets in, as you don’t know if you can continue to call this place your home. Experts say there are a number of ways thi.... More »
7 smart strategies for first-time home buyers + MORE Nov 19th
If you’ve been thinking about buying a house, you may be wondering how you’ll know when it’s “the right time.” If you don’t have a 20% down payment saved up, is it still OK to consider buying? If you can’t afford your forever home, should you still jump into ownership now? And does the.... More »
Watch: What is the mortgage stress test? Mar 5th
If you’ve purchased a home in the last several years, or plan to buy one soon, there’s a good chance you’ve heard about the mortgage stress test. Since 2018, the stress test has served as a set of rules banks and lenders use to determine if you qualify for the mortgage you want. It’s possibl.... More »
The Top Reasons for Not Buying a Home
– ratesupermarket.ca
Since the early days of the financial crisis, the decision to buy a home has been met with a great deal of uncertainty. The top concerns haven’t changed much: will rates go up? Are we in a housing bubble? Is now the right time to buy? And, as prices climb and some lenders have started to raise rates, those on the sidelines may be increasingly anxious.
Frankly, for the majority of first time home buyers – especially those in Canada’s large urban centres – affordable options are shrinking. But are ownership aspirations following suit?
A Snapshot of the 2015 Market
The 2015 edition of the Annual State of the Residental Mortgage Market in Canada by Mortgage Professionals Canada (formerly CAAMP), reveals consumer sentiment around home buying is positive. But this is mostly among those who already own a home. The report, prepared for MPC by Will Dunning, Chief Economist and a member of RateSupermarket.ca’s Mortgage Rate Outlook Panel, provides an overview of the evolving state of the residential mortgage market…
A Chilly Time for Canadian Cash
– ratesupermarket.ca
It hasn’t exactly been a good-news month; January has brought about higher mortgage rates, growing economic uncertainty, and a lagging loonie. Feeling like your personal finances have been put on ice? You’re not alone – a recent survey finds Canadians feel overall less optimistic about their money this year, while a 2015 mortgage study calls for a cooler market in 2016.
New Year, New Rate Trends
New-year home buyers may face a tougher sell this month, as several mortgage lenders have hiked rates for their fixed and variable loans. Could more be on the way – and could a Bank of Canada rate cut further shake up the economy? Read on for our expert panels’ full January forecast.
Read Penelope’s Blog | New Year, New Rate Trends
The Top Reasons For Not Buying a Home
The majority of Canadians still feel real estate is a solid investment, according to an annual housing market study from Mortgage Professionals Canada. But some would-be buyers aren’t yet ready to take the plunge…
New Year, New Rate Trends
– ratesupermarket.ca
RateSupermarket.ca’s expert mortgage panel calls for rate rise despite bond dive
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase from some lenders, as new regulations squeeze profits. Meanwhile, economists are split on whether the Bank of Canada has another January rate cut up its sleeve. However, should a cut occur, it remains to be seen if the resulting discounts will ever reach consumers, as lenders pad their profit margins amid ongoing economic downturn.
Fixed Mortgage Rates: Up
New regulations introduced late last year will impact banks’ mortgage funding costs and borrowers’ capital requirements. As a result, some lenders, such as Royal Bank of Canada, have raised fixed mortgage rates slightly, despite strong demand for bonds, and lingering low yields. As lenders continue to face these increased costs, along with economic headwinds from a low loonie and oil prices, fixed mortgage rate discounts may become slightly less competitive…
Rate Site Shoppers Profiled
– canadianmortgagetrends.com
Lender and broker executives are keenly interested in how today’s mortgage consumers are engaging with technology, so they’ll likely be pouring through RateHub.ca’s new Digital Money Trends Report. Based on RateHub user data and opinion surveys, this new report yields fresh data on mortgage search habits. Among other things, it finds that: Canadians use mortgage-related keywords in search engines more than 700,000 times per month 142,600 of these are rate-related, which shows there’s more on people’s minds than just the lowest rate 28,600 searches are related to mortgage brokers “RBC” is the most popular bank-related mortgage search topic with 72,000 hits a month “Dominion Lending Centres” is the READ MORE
Bank of Montreal economists predicting interest rate cut
– moneysense.ca
OTTAWA – Economists at the Bank of Montreal are joining those predicting the Bank of Canada will cut its key interest rate next week.
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
Poloz recently said that while the steep slide in oil prices can be mitigated to a degree, there was no simple policy fix to the ailing economy.
CIBC also says that the odds have tilted in favour of a rate cut by the central bank, either next week or in April.
Mortgage rates are rising »
The key overnight rate sits at 0.5 per cent, and Poloz is scheduled to make his interest rate announcement next Wednesday.
The Bank of Canada cut its key interest rate twice last year in an effort to cushion the impact of falling oil prices on the economy.
By cutting its target for the overnight rate, the central bank is trying to push down the interest rates charged by Canada’s big banks, making it cheaper for companies to borrow money to grow their businesses…
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
Poloz recently said that while the steep slide in oil prices can be mitigated to a degree, there was no simple policy fix to the ailing economy.
CIBC also says that the odds have tilted in favour of a rate cut by the central bank, either next week or in April.
Mortgage rates are rising »
The key overnight rate sits at 0.5 per cent, and Poloz is scheduled to make his interest rate announcement next Wednesday.
The Bank of Canada cut its key interest rate twice last year in an effort to cushion the impact of falling oil prices on the economy.
By cutting its target for the overnight rate, the central bank is trying to push down the interest rates charged by Canada’s big banks, making it cheaper for companies to borrow money to grow their businesses…
