Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Navigate through these uncharted waters in 2020 Jul 4th
In 2009 and 2010, for the first time ever we saw mortgage rates under 2.00%. That’s right, if you were in a variable rate mortgage, you had a rate under 2.00%. We were coming off the catastrophic US sub-prime mortgage crisis. The financial US scam that cost the world trillions of dollar.... 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 »
Canadian home sales forecast downgraded—but the market may be turning a corner + MORE Jul 17th
For the second time this year, the Canadian Real Estate Association has downgraded its forecast for home sales in 2025, even as it says a turnaround could be looming following increased activity in June.
The association reported that the number of homes changing hands across the country in June r.... More »
Rates are going up… for now… is this the end of low rates? + MORE Jan 14th
Next Wednesday will be the first Bank of Canada meeting date to set the Target rate, which directly affects Bank Prime rate and Variable rate mortgages. It’s almost a certainty that the Bank of Canada Governor, Stephen Poloz, will raise the rates.
POSITIVE DATA MEANS HIGHER RATES
Th.... More »
Highclere Capital enters Canada’s mid-market lending space + MORE Feb 23rd
A new player in Canada’s mid-market mortgage lending space is intent on shaking up the industry..... More »
5 things you should know about Mortgage Investment Corporations
– moneysense.ca
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…
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” […]
