Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Latest in mortgage news: OSFI head applauds lenders’ efforts to shorten amortization lengths + MORE Apr 3rd
OSFI says it is encouraged by the progress Canadian lenders have made in reducing amortization lengths of the mortgages within their portfolios..... More »
Preparing for the next wave of renewals: Manulife’s unique solutions + MORE Apr 24th
The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it..... More »
The best 5-year fixed mortgage rates in Canada + MORE Jul 12th
Mortgages
The best 5-year fixed mortgage rates in Canada
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Three ways mortgage brokers can reassure concerned borrowers Feb 12th
Many mortgage brokers are fielding calls from clients concerned about rising interest rates and an uncertain economic outlook..... More »
National Bank says its consumers remain “resilient” with $1 billion worth of excess liquidity Oct 2nd
National Bank reports that its mortgage clients have been resilient in the face of sharply higher interest rates, thanks in part to high levels of liquidity..... More »
Breaking down bank fees
– moneysense.ca
The COVID-19 pandemic has hit a lot of Canadians hard—emotionally, physically and financially. So it isn’t surprising that many are calling out banks that raised their fees to consumers at a time when so many people are struggling. Given the number of banks that have also reported record profits this year, the question on many customers’ minds has been: Why?
Watch: MoneySense – Breaking down bank fees – Presented by EQ Bank
Why do banks charge fees on everyday transactions?
Depending on what kind of account you have, and where, certain everyday transactions, like sending an e-Transfer or paying for an online purchase in a foreign currency, may result in a charge being debited from your account; or you may be charged a flat fee each month.
In either case, fees are a way of recouping banks’ costs (for example, staff salaries; overhead costs for brick-and-mortar branches; the admin involved with approving a loan or mortgage), but also a way to meet the demands of their shareholders…
MCAP to Acquire Paradigm Quest and Merix
– canadianmortgagetrends.com
Canada is about to have a new #1 non-bank lender. MCAP announced today that it’s buying Paradigm Quest (PQ), giving it PQ’s in-house brands, Merix Financial and Lendwise — and reportedly, origination contracts with dozens of other private label brands. The move makes MCAP a juggernaut in the mortgage broker industry. Pending completion of the deal, MCAP will eclipse the former leading non-bank lender, First National. After the acquisition, MCAP’s mortgage assets under management will top $140 billion. First National […]
