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Latest News
Toronto, Vancouver weigh on housing starts in first half of year: CMHC + MORE Sep 10th
Canada Mortgage and Housing Corp. says growth in overall housing starts was flat during the first half of the year compared with 2024, though there were significant regional differences..... More »
CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses + MORE Mar 4th
CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren't expected to translate into "material" losses, the bank said..... More »
Sloppy Journalism + MORE Nov 6th
In the media’s race to break down last month’s mortgage rule changes, accuracy has seemingly taken a backseat to fast-published, under-researched commentary. Here’s a case in point, a Globe story that ran October 17. (And yes, I hate to criticize my own because the Globe has.... More »
Parent of U.S. Mega-Lender Buys Control of Mortgage Fintech, Lendesk Apr 27th
No, Quicken Loans has no plans to start selling mortgages in Canada. But it does want a piece of our mortgage technology market. That’s why its parent company, Rock Holdings Inc., has acquired a majority stake in Vancouver-based Lendesk. Lendesk is a mortgage fintech company that connects borrower.... More »
Top Risks and Trends in Canada’s Mortgage Market Sep 14th
From rising inflation and falling consumer confidence to changing real estate preferences, Canada’s mortgage market impacts from multiple fronts. Ben Rabidoux, a real estate analyst and founder of Edge Realty Analytics, recently participated in a webinar hosted by Mortgage Professionals Canada.... More »
Refinance your home to pay for university?
– moneysense.ca
Q: I am a 55 year old male with three kids who are in university and we have exhausted our RESP savings. Now I’m having a cash flow problem. The main issue is that the interest rate on the mortgage is so high—as I am a self-employed clinical psychologist who works out of my home (and my wife works for me).The dilemma we face is whether or not we should sell our house and downsize into something a little cheaper, liquidate some RRSP savings or find another solution. I earn $200,000 each year and know that once the university days are over, we’ll have a lot more money. What should we do?
— David Rynard, Kingston, Ont.
Robert McLister, mortgage planner at intelliMortgage and founder of RateSpy:
A: This puzzle has a few missing pieces: two being your mortgage balance and interest rate.
What we know is that the highest 5-year mortgage rate over the last five years was about 3.99%. That assumes you were reasonably qualified at the time you got approved.
Assuming a $600,000 mortgage, for example, the payment difference between 3…
As US housing recovers, low incomes keep Detroit far behind
– canadianbusiness.com
DETROIT – Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn’t know their house on Maiden Street, in a blighted east side Detroit neighbourhood, was already listed for auction.
No one “let us know we were about to lose our house,” Ann Mack said. “Nobody ever came out and knocked on our door.”
The United Community Housing Coalition stepped in and bought the home for $1,000 at a foreclosure auction, then returned the deed to the family. It and other nonprofits are the final options for hundreds of Detroit residents fighting foreclosures, auctions and evictions.
“Complete strangers helped us get our house back,” said Ann Mack, 48. “We would have been out in the street.”
A decade after the nation’s housing bubble peaked before bursting in a ruinous crash, much of America’s residential real estate has rebounded. Many owners have enjoyed rising equity and lower housing bills as mortgage rates have sunk…
No one “let us know we were about to lose our house,” Ann Mack said. “Nobody ever came out and knocked on our door.”
The United Community Housing Coalition stepped in and bought the home for $1,000 at a foreclosure auction, then returned the deed to the family. It and other nonprofits are the final options for hundreds of Detroit residents fighting foreclosures, auctions and evictions.
“Complete strangers helped us get our house back,” said Ann Mack, 48. “We would have been out in the street.”
A decade after the nation’s housing bubble peaked before bursting in a ruinous crash, much of America’s residential real estate has rebounded. Many owners have enjoyed rising equity and lower housing bills as mortgage rates have sunk…
