Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year + MORE Sep 14th
CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates..... More »
With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase + MORE Jun 9th
Over two thirds (68%) of Canadians say they plan to wait until mortgage rates drop before they decide to purchase a house..... More »
How much credit card debt does the average Canadian have? + MORE Jan 18th
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
How to build credit history in Canada + MORE Jun 30th
A credit history is a person’s track record of using credit (borrowing money) and repaying debt. Your credit history can affect many aspects of your financial life—from getting approved for a credit card or renting an apartment to taking out a mortgage or a car loan, among other things. In some .... More »
Why mortgage brokers are embracing ‘digital onboarding’ and not looking back Aug 9th
For much of the mortgage industry’s history, brokers required a mountain of paperwork from prospective clients to ensure they’d actually be approved by a willing lender..... More »
First National reports no issues with its mortgage renewals so far
– canadianmortgagetrends.com
Canada’s largest non-bank lender says it has not yet encountered any issues with its mortgage borrowers renewing at higher interest rates.
Critics say OSFI’s proposed mortgage changes could do more harm than good
– canadianmortgagetrends.com
While OSFI’s proposed underwriting changes announced in January were presented as an effort to control market risk, critics say the regulator risks overtightening a market that is already in decline.
Home prices won’t revert to pre-pandemic levels, should start rising again in 2024: CMHC
– canadianmortgagetrends.com
The Canada Mortgage and Housing Corporation (CMHC) expects home prices to reach a bottom this year, but aren’t expected to fall below pre-pandemic levels.