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
The Latest in Mortgage News: CMHC sees chance of a recession if BoC policy rate hits 3.5% + MORE Jul 13th
As the Bank of Canada continues to hike interest rates, the country's housing agency sees the chance of a recession growing the higher rates go..... More »
Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th
I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying ju.... More »
Should I sell and rent or get a reverse mortgage? + MORE Jul 7th
I’m an 82-year-old widowed woman, and my savings are depleting fast. I feel privileged, as I have the luxury of owning my own two-bedroom, one-bathroom condo.
I have two options: to selI and rent a one-bedroom apartment, probably starting at $2,000 a month, or staying in my home and getting.... More »
The Latest COVID-19 Mortgage News: Toronto Real Estate Sales Plunge 37% + MORE Apr 1st
New data suggests homes sales in Toronto dropped 37% last week compared to the same time last year, according to Realosophy Realty. The firm also says cancelled listings jumped by 27% as thousands of Canadians now find themselves out of work, putting into question the near-term future of Canada̵.... More »
Best of Finance Winners: The Best Credit Cards and Banking Products for 2019 + MORE Oct 10th
RateSupermarket.ca aims to make financial decision-making easier for the consumer by acknowledging the best credit cards and banking products in Canada at its annual Best of Finance Awards. (Originally published May 15, 2019)
The credit card, loan, bank account, or mortgage you choose can affect ho.... More »
Stricter regulations aimed at tightening mortgage lending to take some of the risk out of the market will be finalized by the end of the month, the federal financial regulator said Tuesday.
CMHC looks to Airbnb in bid to boost withering supply of affordable rental units
– canadianbusiness.com
OTTAWA _ Canada’s housing agency is looking to an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb.
The head of the Canada Mortgage and Housing Corp., says he believes short-term rental companies like Airbnb and Vacation Rental By Owner (VRBO) could help increase the rental supply in the country and, in turn, possibly reduce rents.
The government’s upcoming national housing strategy will have a heavy focus on increasing the supply of affordable housing options, including rental units and Airbnb alone offers the potential for tens of thousands of units.
CMHC chief executive Evan Siddall said his agency recently approached Airbnb, the largest such service in Canada, to see if there are ways to turn those short-term rentals into apartments available to locals to rent for longer terms. He cautioned that it was still early days with a lot of details yet to work out.
“I think VRBO and Airbnb should get ahead of this, because they could be giving us some social utility by helping us spawn supply,” Siddall said in a recent interview with The Canadian Press…
The head of the Canada Mortgage and Housing Corp., says he believes short-term rental companies like Airbnb and Vacation Rental By Owner (VRBO) could help increase the rental supply in the country and, in turn, possibly reduce rents.
The government’s upcoming national housing strategy will have a heavy focus on increasing the supply of affordable housing options, including rental units and Airbnb alone offers the potential for tens of thousands of units.
CMHC chief executive Evan Siddall said his agency recently approached Airbnb, the largest such service in Canada, to see if there are ways to turn those short-term rentals into apartments available to locals to rent for longer terms. He cautioned that it was still early days with a lot of details yet to work out.
“I think VRBO and Airbnb should get ahead of this, because they could be giving us some social utility by helping us spawn supply,” Siddall said in a recent interview with The Canadian Press…
Get Ready! The 2017 National Mortgage Conference is Quickly Approaching
– canadianmortgagetrends.com
The countdown has started to the largest and most important annual gathering of mortgage professionals in the country. In less than 60 days, industry professionals will converge upon Niagara Falls for Mortgage Professionals Canada’s National Mortgage Conference. The two-day conference takes place on November 26 and 27 and will feature networking and educational sessions, industry-specific […]
CHMC explores cutting red tape for self employed borrowers
– moneysense.ca
OTTAWA — The national housing agency is exploring ways to make it easier for entrepreneurs and new immigrants to buy a home by cutting some of the red tape required to prove they can afford to pay the mortgage.
“Right now, under our mortgage insurance policies, you have to be able to document income to get mortgage insurance, to a level of specificity that discriminates against new Canadians, because they can’t do that,” Evan Siddall, the CEO of the Canada Mortgage and Housing Corp., said in a wide-ranging interview with The Canadian Press.
READ: Should you use RRSPs to pay down the mortgage?
“It discriminates against entrepreneurs, as well, because they can’t prove their income as well, so we’re looking at our own policies to try and make sure that there is more equity in our mortgage insurance programs,” he said.
Anyone who wants to buy a home in Canada without a down payment of at least 20 per cent of the purchase price is usually required to get mortgage loan insurance from the CMHC, which requires a smaller down payment of five per cent on a home worth up to $500,000…
“Right now, under our mortgage insurance policies, you have to be able to document income to get mortgage insurance, to a level of specificity that discriminates against new Canadians, because they can’t do that,” Evan Siddall, the CEO of the Canada Mortgage and Housing Corp., said in a wide-ranging interview with The Canadian Press.
READ: Should you use RRSPs to pay down the mortgage?
“It discriminates against entrepreneurs, as well, because they can’t prove their income as well, so we’re looking at our own policies to try and make sure that there is more equity in our mortgage insurance programs,” he said.
Anyone who wants to buy a home in Canada without a down payment of at least 20 per cent of the purchase price is usually required to get mortgage loan insurance from the CMHC, which requires a smaller down payment of five per cent on a home worth up to $500,000…
