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Latest News
Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th
The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal..... More »
Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands Mar 3rd
When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likel.... More »
Rate hikes slow non-bank mortgage growth and fuel rise in arrears Apr 24th
Non-bank lenders saw a continued move toward uninsured mortgages in Q4, alongside a steady rise in delinquencies..... More »
The latest in mortgage news: Half of borrowers concerned about mortgage renewals Apr 7th
Nearly half (47%) of Canadians buying or renewing a mortgage say they are concerned about qualifying for the amount they need..... More »
CMHC reports annual pace of housing starts dropped 17% in October Nov 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell 17% compared with September..... More »
Auto sales to dip in most provinces, led by Ontario’s 3.1% drop: Scotiabank
– canadianbusiness.com
TORONTO _ Canadian sales of cars and light trucks this year are expected to dip from last year’s all-time high, mostly because of weaker economic conditions in Ontario, Scotiabank said Friday in a report.
The bank’s automotive outlook projected that 2018 could end a five-year string of successive records that included 2.04 million vehicles sold in 2017 _ largely fuelled by demand in Ontario as well as a revival in Prairie provinces last year as they overcame the oil-price crisis.
Scotiabank doesn’t forecast much of a pullback this year _ about 40,000 vehicles.
But the bank expects Ontario _ which has been the major driver behind recent growth _ will put the brakes to Canadian auto sales this year, accounting for about two-thirds of the national sales decline.
Ontario’s purchases will “ease off” partly because a softer real estate market in the province will erode use of home equity loans to purchase vehicles, Scotiabank economist Carlos Gomes said in an interview…
The bank’s automotive outlook projected that 2018 could end a five-year string of successive records that included 2.04 million vehicles sold in 2017 _ largely fuelled by demand in Ontario as well as a revival in Prairie provinces last year as they overcame the oil-price crisis.
Scotiabank doesn’t forecast much of a pullback this year _ about 40,000 vehicles.
But the bank expects Ontario _ which has been the major driver behind recent growth _ will put the brakes to Canadian auto sales this year, accounting for about two-thirds of the national sales decline.
Ontario’s purchases will “ease off” partly because a softer real estate market in the province will erode use of home equity loans to purchase vehicles, Scotiabank economist Carlos Gomes said in an interview…
