Home Sales Fall Sharply From January + MORE Mar 15th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
 property mortgage

Less than 10 Percent of Canadians Could Buy a House in Toronto + MORE May 30th

Thinking about owning a home in Canada? It was only a few years ago that Toronto and Montreal were ranked among the best places to live with the cost of living as a contributing factor. But the cost of ownership has now skyrocketed. In cities like Vancouver, Toronto and Montreal, only those in the .... More »
 Canada mortgage

What You Should Know About Collateral Charge Mortgages + MORE Aug 7th

I recently had clients who were refinancing their mortgage completely reject a very attractive offering from one of the big chartered banks. Their reasoning? All of this bank’s mortgages are registered as collateral charges, and all of their online research into this topic spooked them complet.... More »
 mortgage buyout

Lower Rates Means Less Stress in the “Stress Test” + MORE Jul 23rd

Starting now, Canadian mortgage seekers will find it easier to qualify for more money. That’s because the Bank of Canada has dropped its five year benchmark qualifying rate from 5.34 percent to 5.19 percent. This is the rate banks use to qualify would-be-homebuyers for a mortgage. This is the fir.... More »
 line of credit

IMF Cautions Against Relaxing Mortgage Rules, Says Market Still Heated in Canada + MORE May 24th

The housing market remains the biggest threat to Canada’s economic health. That is according to a report by the International Monetary Fund (IMF), published this week after an official visit to Canada. They are responding to calls by several real estate boards in Canada to ease the new B-20 stres.... More »

Parent of U.S. Mega-Lender Buys Control of Mortgage Fintech, Lendesk Apr 27th

No, Quicken Loans has no plans to start selling mortgages in Canada. But it does want a piece of our mortgage technology market. That’s why its parent company, Rock Holdings Inc., has acquired a majority stake in Vancouver-based Lendesk. Lendesk is a mortgage fintech company that connects borrower.... More »
Meridian Gets Competitive; Posts Lowest Two-Year Fixed Mortgage Rate on the Market
Meridian is making news as of late, as it recently posted the lowest two-year fixed-interest rate in recent Canadian history, compared to the “Big Five” banks and other lenders on the market. As Ontario’s largest credit union, Meridian is offering a two-year fixed mortgage at 1.98 percent.
This competitive rate may be good news for potential home owners in Ontario. Buying a home has become increasingly difficult across the country in recent years, especially in city centres like the Greater Toronto Area and Metro Vancouver, due to rising interest rates and the mortgage stress test cutting into affordability.
“The reality is that it is next to impossible for many young people to get into the housing market in Ontario today,” said Dayna Whitney, Associate Vice President, Retail, Meridian, in a press release. “We believe this is an extremely competitive rate and it represents an exceptional opportunity to save – particularly for first-time homebuyers.”
The new rate is available to Ontarians who are:

looking to own a primary property up to a maximum purchase price of $1 million with an outstanding mortgage balance (after down payment) of $799,000 or less…

Continue Reading On ratesupermarket.ca »

Home Sales Fall Sharply From January

– canadianmortgagetrends.com

The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also dropped sharply last January when the mortgage stress test came into […]

Continue Reading On canadianmortgagetrends.com »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!