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
Mortgage risks fading thanks to higher rates, tougher rules, says Bank of Canada report Nov 15th
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 »
3.4 million Canadians will renew their mortgages by 2025: Royal LePage - Financial Post + MORE Oct 26th
3.4 million Canadians will renew their mortgages by 2025: Royal LePage Financial PostSurvey finds Canadian homeowners fret over mortgage renewals Toronto StarMortgage renewal: New survey says many concerned about rising interest rates CTV News OttawaInterest rates: H.... More »
The State of Rental Financing + MORE Apr 18th
Last November the Department of Finance banned default insurance on single-family rentals. That was a near-knockout blow to the rental financing businesses of lenders who rely on securitization. Since then, lenders who compete with the big banks have been forced to find new balance sheet funding. Th.... More »
Latest in Mortgage News – More Research on Stress Test Impacts May 6th
The stress test continues to be the focus of much research, with new data released recently on the full extent of its impacts on the housing market. We’ve summarized the latest findings, which look at the stress test’s impacts on home sales and prices over the past year, as well as the c.... More »
7 Tips for New Mortgage Brokers + MORE Apr 1st
If you’re a new mortgage broker, you’ll realize soon enough that there's actually a great deal in this business that we have no control over..... More »
FICOM Announces Comp Disclosure Plans
– canadianmortgagetrends.com
B.C.’s mortgage broker regulator, FICOM, updated the industry Friday on the contentious new compensation disclosure guideline. (More on that contention) FICOM said it processed 70+ comments about the new policy. Here’s what it concluded: Simpler Disclosures are Better The Mortgage Brokers Act regulations prescribe a one-page “Form 10” that brokers should use to identify conflicts of interest that might sway the broker’s advice. This form will replace the multi-page version that’s widely used today. According to Carolyn Rogers, the Registrar of Mortgage Brokers at FICOM, “Most consumers will find the prescribed one-page Form 10 simpler to absorb than the multiple pages in READ MORE
