Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Is Canada’s mortgage stress test still relevant? Aug 24th
Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada's stress test are overdue.
.... More »
Most mortgage borrowers to see payments rise 34% to 54% vs. early 2022: Bank of Canada + MORE Dec 22nd
If you had a mortgage as of February 2022, chances are you will be facing a payment increase before the end of 2025..... More »
Housing starts stable in 2023, but demand still outpaces growing supply of apartments + MORE Mar 28th
The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments—despite demand still outpacing supply for rental housing.
The agency released its biannual housing su.... More »
Scotiabank “intentionally slowing” its mortgage portfolio + MORE Mar 2nd
With its new CEO now at the helm, Scotiabank has laid out its plans for a shift in focus in terms of how its funds its loan book..... More »
RateHub to Launch a Mortgage Brokerage + MORE Jul 13th
Mortgage leads are profitable but mortgages themselves are much more so. It’s not a complete shock then that RateHub.ca, a lead generation company, is starting its own brokerage. RateHub, a leading mortgage rate comparison site, hasn’t publicly named the new brokerage yet, but says it will launc.... More »
Economists see slower pace of housing construction
– theglobeandmail.com
Canada Mortgage and Housing Corp.’s Wednesday report on housing starts is projected to show a decline in the number of residential units that launched in June
OTTAWA – The Royal Bank says Canadians have been slowing down the amount of debt they are taking on to buy real estate, easing concerns about household vulnerability.
The RBC paper notes that overall household debt accumulation remained flatlined at 4.2 per cent growth in May, about the same level as the previous three months.
Outstanding mortgage debt stood at $1.23 trillion as the annualized growth slowed slightly to five per cent from 5.1 per cent in April.
But households increased their pace of non-mortgage borrowing, the bank says, to 2.2 per cent from two per cent in April.
RBC says the steady pace of debt accumulation overall should give some comfort to the Bank of Canada, which has called household debt the No. 1 risk to the financial system and economy.
With the housing market expected to moderate further, the vulnerability posed by overly indebted households is easing, RBC says, clearing the way for the Bank of Canada to move toward higher interest rates by mid-2015.
Meanwhile, business borrowing continued to strengthen in May, with short-term debt rising to 10…
The RBC paper notes that overall household debt accumulation remained flatlined at 4.2 per cent growth in May, about the same level as the previous three months.
Outstanding mortgage debt stood at $1.23 trillion as the annualized growth slowed slightly to five per cent from 5.1 per cent in April.
But households increased their pace of non-mortgage borrowing, the bank says, to 2.2 per cent from two per cent in April.
RBC says the steady pace of debt accumulation overall should give some comfort to the Bank of Canada, which has called household debt the No. 1 risk to the financial system and economy.
With the housing market expected to moderate further, the vulnerability posed by overly indebted households is easing, RBC says, clearing the way for the Bank of Canada to move toward higher interest rates by mid-2015.
Meanwhile, business borrowing continued to strengthen in May, with short-term debt rising to 10…
Bank's mortgage life insurance has flaws: Roseman
– thestar.com
Banks put pressure on mortgage borrowers to take their life insurance. But they don’t explain the consequences of answering questions quickly.
Playing Semantic Games With Fannie and Freddie Investors
– online.wsj.com
The government defines ‘conservatorship’ however it likes, with a destabilizing effect on the mortgage market.Game On for the Mortgage Penalty Suit Against CIBC
– canadianmortgagetrends.com
A B.C. court says the mortgage penalty class action against CIBC can proceed. The court “certified” the class action last week, meaning that the case can be heard and the evidence weighed. According to Kieran Bridge, the plaintiff’s lead counsel in B.C., “The principal issue is whether mortgage language about prepayment penalties that was used […]
