Credit Scores Improving, Says CMHC + MORE Sep 28th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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Mortgage borrowing slides to lowest since 2014 + MORE Jun 14th

Canadian mortgage borrowing over the first three months of 2018 fell by $2 billion to $13.7 billion — the lowest level since 2014 — following the introduction of new lending rules and a rise in interest rates..... More »
 property

Ontario Housing Market: Increased Opportunity for Investors! + MORE Apr 6th

Rental vacancies are ridiculously low and demand for rental units is high… and growing! That’s just a sampling of the opportunistic real estate investment news Ted Tsiakopoulos, CMHC’s Regional Economist for Ontario, shared recently at the Canadian Mortgage Brokers’ Associat.... More »

Be Aware of Mortgage Penalties + MORE Nov 9th

Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap .... More »
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I lost my home in a fire. Can I tap my LIRA to cover costs? + MORE Nov 18th

Q: My house was burnt in the Fort McMurray fire. I am now unemployed and my husband and I are struggling to make the mortgage payments on top of our rent payment. Our savings are now drained as well as money received from insurance—the town house was part of a condo and is being rebuilt. We have.... More »
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BREAKING: Ontario Car Insurance Rates Increase + MORE Apr 21st

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 2.23 per cent on average.... More »
5 things you should know about Mortgage Investment Corporations
Historically low interest rates in recent years that has led Canadian investors to increasingly venture into the world of private mortgage investment corporations or MICs. These structures promise steady returns at much higher yields than traditional fixed income investments nowadays. But are they too good to be true?
Dustin Van Der Hout and James Price of Richardson GMP in Toronto think so. In a recent note to clients they argue that MICs are particularly risky vehicles at the present time. They suggest that the benefits of these investments are overstated and the current risks under appreciated.
Drawing on their piece, here are five things you need to know about mortgage investment corporations.
1. What are they?
As the authors explain, MICs are pools of capital which invest in private mortgages in Canada. They are a way for an individual investor to gain direct exposure to the mortgage market in Canada. MICs account for the bulk of private mortgage issuance in the country and are regulated by OFSI, the federal regulator of financial institutions…

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Credit Scores Improving, Says CMHC

– canadianmortgagetrends.com

New data from CMHC shows average credit scores of mortgage holders across the country are continuing to rise. A full 80.7% of mortgages in Canada are held by borrowers with a “very good” (700-749) or “excellent” (750+) credit score, CMHC says. That’s up from 78.2% in 2012. Meanwhile, the percentage of mortgage holders with “fair” […]

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