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
Is the COVID-19 emergency over? An economists prosepective. + MORE Sep 14th
I recently participated in a conference call with Scotiabank’s Chief Economist & SVP, Jean-Francois Perrault and John Webster President & CEO Scotia Mortgage Corporation. It was good to hear real financial experts make sense of what has happened and what will most likely hap.... More »
7 smart strategies for first-time home buyers + MORE Nov 19th
If you’ve been thinking about buying a house, you may be wondering how you’ll know when it’s “the right time.” If you don’t have a 20% down payment saved up, is it still OK to consider buying? If you can’t afford your forever home, should you still jump into ownership now? And does the.... More »
Majority of Canadian Buyers Borrowing Their Maximum Approved Mortgage + MORE Jul 22nd
Soaring home prices over the past year have forced a majority of today's homebuyers to use the maximum mortgage amounts they've been approved for..... More »
Lowest mortgage rates rise above 4% as bond yields surge Dec 12th
A sharp rise in bond yields has pushed fixed mortgage rates higher, undoing weeks of declines and signalling a stubborn pricing floor for borrowers..... More »
OSFI calls stress test “incomplete,” seeks to address “problem” of fixed-payment variable-rate mortgages + MORE Sep 8th
It's no secret that Canada's banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today..... More »
Canada’s housing market is always a hot topic, but this week it was a heretofore little-known mortgage lender called Home Capital that made headlines as clients withdrew hundreds of millions in savings in a matter of days.
Home Capital stock rises as it secures credit line, says exploring options
– canadianbusiness.com
TORONTO — Home Capital Group Inc. shares regained some ground on Thursday after it secured a $2-billion credit line and said it’s exploring its strategic options, suggesting it could be up for sale.
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
Home Capital’s Saga: The Latest
– canadianmortgagetrends.com
There’s going to be a lot of Home Capital Group (HCG) announcements as this story unfolds in coming days. We’ll track them here… Update #7: April 28, 3:35 P.M. Equitable Group shares are down 16% following a 50 bps hike in its deposit rates. Former Home Capital director Jim Keohane was on BNN today. Good on him for having the guts to speak publicly. His comments did much to assuage fears about an imminent demise of the company. Here’s some of what he said: His fund’s investment was not a “high-risk” investment because it was overcollateralized by high-quality mortgages (effectively 2.8 times READ MORE
Lender Spotlight Simplifies Broker Rates
– canadianmortgagetrends.com
Lender rate sheets used to be simple. Over three dozen government mortgage regulations later, lender rate sheets now look like: Insurance rule changes, among other things, mean that finding the best rate for a client today can easily take three times longer than it did just a few years ago. That’s the pain Lender Spotlight (www.lenderspotlight.ca) is trying to solve. The website, created by the folks at DocAssist, lets you enter a mortgage type, term, amount, LTV, etc. and instantly find the lowest published rates from the broker channel’s top lenders. The system has 16 lenders on it so far READ MORE
Home Capital stock rises as it secures credit line, says exploring options
– canadianbusiness.com
Home Capital Group Inc. shares regained some ground on Thursday after it secured a $2-billion credit line and said it’s exploring its strategic options, suggesting it could be up for sale.
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
The stock (TSX:HCG) rose nearly 34 per cent to close at $8.02 on the Toronto Stock Exchange after the mortgage lender said it hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options.”
Toronto-based Home Capital lost more than half its value on Wednesday after it warned it would miss financial targets and was seeking the credit line to offset withdrawals from savings accounts at its Home Trust subsidiary.
Some savers pulled their deposits in the wake of allegations by Ontario’s securities regulator that the company, two former CEOs and the current CFO broke the law in their handling of a scandal involving falsified loan applications. The company has said the allegations are without merit and vowed to defend itself.
Home Capital said Home Trust expects to have a high-interest savings account balance of approximately $814 million on Thursday, after settlement of transactions Wednesday…
