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.
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Mortgage Affordability Calculator
Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a variety of factors. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, yo.... More »
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Canadians continue to pile up non-mortgage debt + MORE Nov 12th
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Canadian household debt rises to a record high
– moneysense.ca
OTTAWA – Canadian household debt rose to a new record high in the fourth quarter of last year, fuelled in large part by mortgage growth.
Statistics Canada said Friday that total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at the end of last year.
The total included $573.6 billion in consumer credit debt and $1.262 trillion in mortgage debt.
The growth helped drive the ratio of household debt to disposable income to a new peak of 165.4 per cent in the fourth quarter, up from 164.5 per cent in the third quarter.
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That means Canadian households on average held $1.65 in debt for every dollar they earned after taxes and other fees paid to government.
TD Bank economist Diana Petramala said low interest rates have allowed households to take on more debt, mostly backed by mortgages, and predicted the growth in debt will outpace income growth in the first half of this year…
Statistics Canada said Friday that total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at the end of last year.
The total included $573.6 billion in consumer credit debt and $1.262 trillion in mortgage debt.
The growth helped drive the ratio of household debt to disposable income to a new peak of 165.4 per cent in the fourth quarter, up from 164.5 per cent in the third quarter.
Credit card selector tool »
That means Canadian households on average held $1.65 in debt for every dollar they earned after taxes and other fees paid to government.
TD Bank economist Diana Petramala said low interest rates have allowed households to take on more debt, mostly backed by mortgages, and predicted the growth in debt will outpace income growth in the first half of this year…
Household debt rises to another record
– thestar.com
Canadian household credit market debt, which includes consumer credit, mortgage and non-mortgage loans, increased to $1.9 trillion at the end of last year
Lender Call Roundup
– canadianmortgagetrends.com
Despite growing unemployment in oil country, Canada’s largest non-bank lenders capped off 2015 with low arrears and solid mortgage originations. Themes from last quarter’s lender conference calls centred on default rates, fraud, compliance, mortgage spreads and renewal performance. We’ve pulled all those tidbits and more from the transcripts of three non-bank titans, First National, Home Capital and Street Capital. Here’s a rundown of their reports to the street, with highlights in blue. Street Capital Notables from its call: Mortgages under administration in Q4: $24.8 billion, up 15% YoY. Street sold $2.1 billion worth of mortgages in Q4, $1.6 billion of which were new originations. Street says READ MORE
