Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Tips for getting a new mortgage + MORE Jan 7th
Q: My partner and I want to move closer to family and this would require moving to another province. We’re fairly certain that we can find full-time employment in our new city but we’re a little worried that mortgage lenders won’t look favorably at us as borrowers. We have equity in the home .... More »
Going big in a tiny space + MORE Mar 4th
When she and her husband moved their family of four to Toronto last year, Tanya Frenette knew a small living space was in store: They had lived a cramped city life before, and in between had spent several years in Vancouver—hardly a mecca of mega-sized homes, either.
Tanya admits her North Toronto.... More »
Regulator says B.C. mortgage brokers should disclose commissions + MORE Feb 15th
Brokers, who receive payment from lenders, argue disclosing those earnings to consumers will undermine confidence in the industry
.... More »
Mortgage affordability calculator + MORE Nov 19th
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Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a many factors—more on those later. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, you should start.... More »
The State of Rental Financing + MORE Apr 18th
Last November the Department of Finance banned default insurance on single-family rentals. That was a near-knockout blow to the rental financing businesses of lenders who rely on securitization. Since then, lenders who compete with the big banks have been forced to find new balance sheet funding. Th.... More »
CMHC August Housing Starts Reach 2012 Highs
– ratesupermarket.ca
Canada may be suffering from a mild recession, but the red-hot real estate market continues to shine. Canada Mortgage and Housing Corporation’s (CMHC) latest housing starts report has found new construction has outpaced predictions, and has actually doubled in Ontario month over month, as Toronto condo demand fuels new developments.
CMHC August housing starts were up an impressive 12 per cent. At a seasonally adjusted pace, 216,924 units were started, from the revised 193,253 in July – the highest level of increase, dating back almost two years to September 2012. It also beats economists median forecast of 190,500 units in a Bloomberg News survey.
Click here to view the best mortgage rates in your region>
Urban Demand Won’t Back Down
The numbers speak for themselves. Housing starts in Ontario’s city centres nearly doubled, up an impressive 89 per cent to 92,422 units in August. The majority of growth was seen in condos – multi-unit starts increased to 142,927 nationally, marking the highest level dating back to April 2012…
These clients broke their mortgage, paid a penalty, and still saved between $9,000 and $26,000!
– canadamortgagenews.ca
Fixed mortgage rates are at an all-time low. If you have a mortgage that is over 3.09%, then you should consider breaking it, paying the penalty and getting into today’s lower rates. That’s short answer… the full answer is a little more complex but, it’s really just simple math. If the savings is greater […]
Canadian Association of Mortgage Professionals
– canadianmortgagetrends.com
Company: Canadian Association of Mortgage Professionals (CAAMP) Position: Chief Executive Officer Location: Toronto, ON Chief Executive Officer The Canadian Association of Accredited Mortgage Professionals (CAAMP) is the recognized voice of Canada’s mortgage broker channel, and the leading authority on mortgage issues. With members from coast to coast, the industry is an important economic driver of the economy, with over $1 trillion in mortgages outstanding. For over 20 years, CAAMP members have realized the dreams of homeownership for hundreds of thousands of Canadians, while maintaining the highest standard of ethical and professional service to clients. It is within this dynamic context READ MORE
