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
Looking for a mortgage in B.C.? Don’t limit your options to the big banks Apr 6th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
Reverse Mortgages growing in popularity… Product of the year 2018? + MORE Feb 23rd
Mortgage stress test is the buzz phrase in mortgage lending for 2018. Every borrower, regardless of how much down payment you’re making, must pass a stress test to qualify for a mortgage. The math is simple, yet intimidating. Lenders must now use your mortgage contract rate PLUS 2.00% to qual.... More »
What’s the TRUE Impact of Policy Changes on the Canadian Mortgage Market? Dec 15th
It’s certainly not what the Bank of Canada (BoC) is claiming!
The BoC recently released a document detailing what it believes to be a positive report on the Canadian Mortgage Market, but this article clearly shows how out of touch our government is.
The BoC is applauding their statistics̷.... More »
The Latest in Mortgage News: CMHC to Review Investment Property Down Payments + MORE Jan 13th
It's no secret that the federal government is eyeing reforms to investment properties in an effort to help reel in runaway house prices..... More »
OSFI Facing Growing Pressure to Tweak Stress Test + MORE Feb 7th
Canada’s financial regulator is facing growing pressure to tweak its mortgage stress test, and no longer just from the mortgage industry. On Monday, Calgary city councillor George Chahal filed a motion asking for the mayor to call on the federal government to amend the stress test implemented .... More »
Javelin Mortgage Investment posts 4Q profit of $5.2 million, result tops expectations
– canadianbusiness.com
VERO BEACH, Fla. (AP) _ Javelin Mortgage Investment Corp. (JMI) on Thursday reported fourth-quarter net income of $5.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Vero Beach, Florida-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring gains, were 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The investor in mortgage-backed securities posted revenue of $5.9 million in the period.
For the year, the company reported that its loss narrowed to $290,000, or 2 cents per share. Revenue was reported as $25.4 million.
Javelin Mortgage shares have climbed 13 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.06, a fall of 21 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights…
On a per-share basis, the Vero Beach, Florida-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring gains, were 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The investor in mortgage-backed securities posted revenue of $5.9 million in the period.
For the year, the company reported that its loss narrowed to $290,000, or 2 cents per share. Revenue was reported as $25.4 million.
Javelin Mortgage shares have climbed 13 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.06, a fall of 21 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights…
Mortgage Career: IC Savings
– canadianmortgagetrends.com
Company: IC Savings Position: Senior Mortgage Underwriter Location: Etobicoke, ON Send resume to: hr@icsavings.ca Senior Mortgage Underwriter Position Type: Full-time, 16 month contract (maternity leave replacement) Relevant Work Experience: 3+ years Education: College diploma, university degree in business, commerce or relevant mortgage underwriting experience combined with job related courses/education. Start Date: April 2016 Closing Date: Open until filled Corporate Profile IC Savings has been Ontario’s fastest-growing credit union since its inception 15 years ago. As a cooperatively owned community financial institution, our more than 13,000 members are at the centre of everything we do. With operating principles built on transparency, local READ MORE
Going big in a tiny space
– moneysense.ca
When she and her husband moved their family of four to Toronto last year, Tanya Frenette knew a small living space was in store: They had lived a cramped city life before, and in between had spent several years in Vancouver—hardly a mecca of mega-sized homes, either.Tanya admits her North Toronto apartment is compact: It spans some 850 square feet, which she shares with a 10-year-old daughter, four-and-a-half-year-old son and conspicuously tall husband she acknowledges “is not a small guy, but you make it work.”
For the Frenettes and hundreds of thousands of other Canadians—particularly younger households in the largest cities—living in tiny homes has become the new reality. “It’s a lifestyle. There’s no way on earth we want to have a mortgage that’s $600,000, it just doesn’t make sense,” she says. “So you force yourself to live small in your head as well.”
As the principal of the design-and-build firm Smallworks and a founding director of Small Housing BC, Jake Fry meets a steady stream of Vancouverites, just like the Frenettes, who are also making the deliberate choice to maximize their incomes by minimizing square footage…
