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

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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 »
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How to Improve Your Credit Score – Student Edition + MORE Sep 15th

The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit. But.... More »
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Credit counselling, Consumer proposal or Bankruptcy… Which option is most favourable? + MORE Mar 16th

A couple in their 30s contacts me for a mortgage. They want to buy a new home. She’s a high school teacher and he’s a computer firm manager. Incomes are good. I check their credit. Let’s stop here for a minute… If they have good credit, an approval is simple and we can provi.... More »
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BREAKING: Ontario Car Insurance Rates Have Increased Oct 16th

Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.06 per cent on average..... More »

Average cost to rent condo in GTA hits $2,206, up by $214 in past year + MORE Apr 12th

The average cost to rent a condominium in the Greater Toronto Area has risen by almost 11 per cent in the past year, partly because tougher mortgage rules have shut out new buyers and flooded the market with renters, a new report by research firm Urbanation says..... 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…

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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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