Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
It’s certainly not what the Bank of Canada (BoC) is claiming! The BoC recently released a document detailing what it believes to be a positive report on the Canadian Mortgage Market, but this article clearly shows how out of touch our government is. The BoC is applauding their statistics̷.... More »
National home sales are projected to fall to a near decade low in 2019, as rising interest rates and strict mortgage stress-test rules continue to put a damper on homebuyer sentiment, according to the Canadian Real Estate Association..... More »
Whereas 2017 was the all-encompassing epitome of red-hot real estate markets across the country, 2018 started off on a quieter note. The year kicked off with a decline in sales, as changes to the Residential Mortgage Underwriting Practices and Procedures (referred to as B20) introduced by the Offic.... More »
The lofty levels of household debt has been a key concern for the Bank of Canada as it gradually raises its trend-setting interest rate, which it has already hiked five times since the summer of 2017..... More »
The word is out on a little-known policy used to qualify anyone with a HELOC who is applying for additional financing. Several of the Big Six banks have already adopted the policy, which requires applicants to prove they can afford the theoretical monthly HELOC payment based on the limit of that HEL.... More »
In what must have felt like walking into the lion’s den, CMHC head Evan Siddall addressed concerns about recent regulatory changes in front of a crowd of over 1,000 mortgage professionals on Monday. Siddall attended Mortgage Professionals Canada’s annual conference in Montreal, answering questions posed by President and CEO Paul Taylor. The discussion revolved around […]