Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Canadians Need Guidance With Their Mortgages + MORE Oct 3rd
That’s the takeaway from a national survey released this week by Rates.ca, which found half of Canadians aren’t aware of the mortgage options available to them. Not only that, but Canadians are lacking in some other basic mortgage trivia, with an astounding 9 out of 10 respondents not kn.... More »
Oaken Financial review 2020 + MORE Apr 25th
Table of contents
Who is Oaken Financial?
Oaken Financial review
Oaken Financial GICs
Oaken Financial’s High-Interest Savings Account
Is Oaken Financial right for me?
There are plenty of options for saving and investing in Canada, whether it’s via high-interest savings accounts, TFSAs, RR.... More »
How much you need to earn to afford a home in Toronto and the GTA + MORE Mar 22nd
Looking at the Toronto housing market through a lens of percentages, shifting sales numbers and interest rates may be the go-to method for industry insiders, but for many run-of-the-mill buyers, there’s really one thing that matters: “What kind of home can I afford?”
To help answer that que.... More »
Scotiabank says variable-rate mortgage clients “showing signs of stress” + MORE May 30th
Scotiabank says high interest rates are increasingly weighing on consumers, resulting in a credit deterioration among its variable-rate mortgage customers..... More »
California's Mortgage Raid + MORE Sep 24th
Jerry Brown and the Legislature refuse to honor a court order..... More »
Maple Bank Siezed by OSFI and Cut Off by CMHC
– canadianmortgagetrends.com
Maple Bank, a niche securitization player in Canada’s mortgage market, looks like it’s going down. Banking regulator OSFI has taken control of the bank’s Canadian operations according to the Financial Post, which quotes OSFI Superintendent Jeremy Rudin as saying, “We are guided by our mandate, which is to protect the depositors and creditors of the Canadian branch and have taken this step to safeguard their interests.” On top of that, CMHC has terminated Maple as an approved issuer of mortgage-backed securities (MBS). CMHC made this statement: Effective immediately, Canada Mortgage and Housing Corporation (CMHC) has suspended Maple Bank GmbH – Toronto Branch READ MORE
Interest rates remain low because we need more borrowers
– moneysense.ca
According to a new a report by the Fraser Institute, global interest rates are persistently so very low because there’s not enough borrowers in the world.
Michael Walker, chairman of the Fraser Institute Foundation, writes: “Interest rates in the 29 economies that make up 90% of the world’s GDP are low because—and to the extent that—these economies are experiencing a dearth of borrowers and hence a relatively high saver-to-borrower ratio.”
Walker states that in order for central banks to continue to use interest rates as an effective monetary policy tool, the balance between supply and demand—saver and borrower—needs to be maintained. “The fact is that every saver who wants to earn a return needs a debtor as an accomplice,” states Walker in his report, released early this morning. “Because of the anonymity of financial institutions, the connection [between saver and debtor] is not appreciated and indeed most people taking a loan or a mortgage think they are getting it from the bank or credit union…
Michael Walker, chairman of the Fraser Institute Foundation, writes: “Interest rates in the 29 economies that make up 90% of the world’s GDP are low because—and to the extent that—these economies are experiencing a dearth of borrowers and hence a relatively high saver-to-borrower ratio.”
Walker states that in order for central banks to continue to use interest rates as an effective monetary policy tool, the balance between supply and demand—saver and borrower—needs to be maintained. “The fact is that every saver who wants to earn a return needs a debtor as an accomplice,” states Walker in his report, released early this morning. “Because of the anonymity of financial institutions, the connection [between saver and debtor] is not appreciated and indeed most people taking a loan or a mortgage think they are getting it from the bank or credit union…
Starting Monday, you’ll need more cash to insure a mortgage on many homes in Canada. The new rule may be ‘good politics,’ but it won’t do much to bring housing prices in overheated markets back down to Earth.
First National
– canadianmortgagetrends.com
Company: First National Position: Residential Mortgage Underwriters Location: Toronto, ON Apply to: Click here Residential Mortgage Underwriters We are hiring Residential Mortgage Underwriters at First National Financial LP! Closing Date: Open Hours of Work: 8:30 a.m. – 5:00 p.m. Office Location: Toronto, ON office Salary: Highly competitive compensation package which Includes, base salary, bonus and benefits. Overview: Our Residential Mortgage Underwriters are responsible for rendering credit decisions on incoming applications within their authorized limits and with adherence to company and insurer policies and guidelines while focusing on service excellence. The Underwriter has responsibility for applying due diligence when READ MORE
Manulife Bank
– canadianmortgagetrends.com
Company: Manulife Bank Position: Lending/Alternative Mortgage Solutions (AMS) Specialist Location: Waterloo, ON Apply to: Click here Lending/Alternative Mortgage Solutions (AMS) Specialist Reporting to the Director of Inside Sales, the Inside Lending/AMS Specialist (ILS) is responsible for selling Manulife Bank and Alternative Mortgage Solutions directly to end clients in active collaboration with the Retail Lending Specialists across the country. The ILS works directly with end clients to determine the applicability of the Bank’s full range of products and services including our Alternative Mortgage Solutions. The ILS ensures business is submitted to the appropriate servicing unit within the Bank, or our 3rd READ MORE
