B.C. home sales to fall as interest rates rise, but prices stay strong: BCREA + MORE Mar 10th

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Home Sales Fall Sharply From January + MORE Mar 15th

The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also d.... More »
 property

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 »

Lender Insights from the 2018 National Mortgage Conference Nov 3rd

Mortgage professionals from across Canada descended on Montreal last weekend for the annual National Mortgage Conference. Hosted by Mortgage Professionals Canada, the annual gathering was once again well attended, with about 1,200 participants and 60+ exhibitors at the Exhibitor Expo. The two-day ev.... More »

2018 – Year in Review Jan 2nd

We’re about to turn the page on 2018, and many may feel not a moment too soon. Climbing fixed rates weren’t the only thing making mortgages less accessible in 2018. This was the first full year to measure the impacts of new federal mortgage rules. Provincial policies in B.C. and Ontario also.... More »
 home equity

The State of Mortgage Consumers + MORE Apr 27th

Mortgage consumer debt reached a record level in the second quarter of 2017, yet mortgage holders have proven capable of managing their increasing monthly obligations. That’s according to CMHC’s recently released Mortgage and Consumer Credit Trends report, which said Canadian households&.... More »
VANCOUVER _ Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province’s 10-year average, although they warn rising interest rates could leave some B.C. households “vulnerable.”
The British Columbia Real Estate Association has released its 2018 first quarter housing forecast, showing residential sales are expected to fall 8.6 per cent to 94,855 units this year, with the decline continuing into 2019.
The projected skid follows the 7.5 per cent decrease recorded last year but the association says residential sales in B.C. are still well above the 10-year average of 84,800 units.
Strong employment growth, consumer confidence and more workers moving to B.C. are credited for the booming housing market over the last four years, including 2016, when a record 112,209 homes changed hands.
But the association predicts the pace of sales will cool due to several factors, including a five-year qualifying rate for a mortgage that is forecast to reach 5…

Continue Reading On canadianbusiness.com »

Yes, you can still buy a home in Canada… Keeping the dream alive
Canada’s a nation of immigrants. It truly is the land of opportunity. Chances are, your parents, grandparents or great grandparents came here from another country.
There are many reasons why people left their homeland. Some left by choice to pursue a better life. Others had to leave for safety reasons. Whatever the reason, most of us have a common goal: A better life.
Homeownership has always been an important part of that dream. We want to own something. We want to plant roots. There’s a pile of statistics to support this claim. In my 28 years in the financial services industry, I can attest to this claim.

Some interesting homeownership facts…

New Immigrants are considered good risks. They’ll do almost anything to ensure they pay their mortgages
In general, homeowners take better care of their homes than renters do thanks to the pride of ownership factor
Buying a home has always been considered good debt and a good investment
Interest rates are still in record-low territory (and expected to rise gradually…

Continue Reading On canadamortgagenews.ca »

Q1 2018 Bank Earnings – Mortgage Morsels

– canadianmortgagetrends.com

The first quarter bank earnings season has come and gone with little fanfare, at least on the mortgage front. Earnings reports showed generally subdued mortgage activity at BMO and TD, although TD’s HELOC portfolio grew a full 16% from last year. Meanwhile CIBC reported a 9% annual increase in its mortgage portfolio. Executives touched on […]

Continue Reading On canadianmortgagetrends.com »

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