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Bridgewater’s New Gateway Mortgage Dec 8th
Bridgewater recently unveiled its “Gateway” product, a conventional mortgage for homeowners with credit and/or income provability issues. It’s meant to be short-term financing (one to three years) until a borrower can qualify for better-priced long-term financing. Todd Poberznick,.... More »
A Threat to Private Financing
– canadianmortgagetrends.com
Wayne Strandlund, Special to CMT Borrower choice and the success of mortgage brokers is tied to the availability of a wide variety of mortgage funds. Apart from conventional insured and…
Demand for credit up in Western Canada: Equifax
– moneysense.ca
Credit monitoring agency Equifax says demand for credit has increased for four consecutive quarters in Western Canada, while demand in the Eastern provinces continues to slow down.
Equifax says its first-quarter statistics show that consumers’ overall debt, including mortgages, remains high around $1.4 trillion, up slightly from$1.42 trillion in the same period last year.
But Equifax says while consumer demand for credit is still heading up (it was 2.7 per cent in the quarter), debt levels still remain manageable.
The report says consumer bankruptcies are down and the overall delinquency rate (bills due past 90 days) is down by 3.9 per cent.
It also says the instalment loan and credit card sectors showed significant increases of 11.8 per cent and 4.8 per cent year-over-year, respectively.
Equifax says while more new credit cards were issued, on average consumers are carrying smaller balances.
The post Demand for credit up in Western Canada: Equifax appeared first on MoneySense.
Equifax says its first-quarter statistics show that consumers’ overall debt, including mortgages, remains high around $1.4 trillion, up slightly from$1.42 trillion in the same period last year.
But Equifax says while consumer demand for credit is still heading up (it was 2.7 per cent in the quarter), debt levels still remain manageable.
The report says consumer bankruptcies are down and the overall delinquency rate (bills due past 90 days) is down by 3.9 per cent.
It also says the instalment loan and credit card sectors showed significant increases of 11.8 per cent and 4.8 per cent year-over-year, respectively.
Equifax says while more new credit cards were issued, on average consumers are carrying smaller balances.
The post Demand for credit up in Western Canada: Equifax appeared first on MoneySense.
