EQB sees impaired loans double in Q2, but expects improvement ahead + MORE Jun 5th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.

Latest News

Why are mortgages so expensive in Canada? + MORE Nov 21st

Canada’s mortgage market has now absorbed four Bank of Canada (BoC) rate cuts, and house hunters are feeling the effects. The latest housing affordability data compiled by Ratehub.ca finds that lower mortgage rates made it easier to purchase a property in nearly every major Canadian housing marke.... More »

Looking for a mortgage in B.C.? Don’t limit your options to the big banks Apr 6th

At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »

Scotiabank mortgage growth slows as originations dip in key markets + MORE May 30th

Scotiabank’s mortgage growth stalled in Q2, with average balances flat from the previous quarter and originations slowing sharply in major housing markets..... More »

How to protect yourself from identity fraud in Canada + MORE Mar 31st

In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are .... More »

Mortgage arrears have yet to peak, but unlikely to reach long-term norm: BMO + MORE Aug 1st

Despite a gradual rise, Canadian mortgage arrears are expected to remain manageable due to the economic recovery and the mortgage stress test.... More »

EQB sees impaired loans double in Q2, but expects improvement ahead

– canadianmortgagetrends.com

Alternative mortgage lender EQB saw a rise in gross impaired loans in the second quarter compared to a year ago, but highlighted recent improvements and expects losses to stabilize going forward.

Continue Reading On canadianmortgagetrends.com »

Finally!! The Bank of Canada cuts the rate.

– canadamortgagenews.ca

Today, the Bank of Canada cut the Prime rate by 0.25%. Hooray! This will directly affect Variable rate mortgages and indirectly affect Fixed rate mortgages.

It has been 27 months since the Bank of Canada governor, Tiff Macklem, started hiking rates to combat inflation. The last hike was in July 2023. Since then, it’s been a guessing game to see when Macklem would act.. Finally, he cut the rates which is much needed and welcome news to all.

Last September we started seeing the BIG SIX BANK Economists call for a rate cut.. There is no logical reason to keep rates at these elevated levels any longer, they said. Consumers and businesses are struggling and hurting while they try to absorb the massive rate increases.

https://financialpost.com/news/canada-standard-of-living-faces-worst-decline-40-years

BUT STILL, THEY DID NOTHING.

Put another way, the Bank of Canada has met 18 times to set the rate…

Continue Reading On canadamortgagenews.ca »

Stay tuned for more mortgage wisdom brought to you by banks.ca!

Share