Housing slump? Recession? Not so fast… Nov 24th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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My mission is to help keep mortgage consumers informed! + MORE Dec 9th

Many mortgage brokers and other sales/service professionals keep track of numbers to measure whether we’re on track for growth year-over-year. So, I did some math. Since becoming a broker in 2004, my team and I have successfully funded more than $920 million in mortgages. That’s a big n.... More »

The Latest in Mortgage News – Economic Growth & Housing Affordability Dec 3rd

The latest data released over the past couple of weeks are helping to provide a reading on how different jurisdictions in the country are faring when it comes to economic growth and housing affordability. The Conference Board of Canada’s latest Metropolitan Outlook, for example, breaks down re.... More »

Kerzner: Your Involvement is Vital to the Mortgage Industry Dec 6th

We are all learners; as parents, as students, as leaders, as employees. An important part of learning, for me, is reflection. We can only really grow and improve when we take a good, hard look at what’s working and what’s not.  My time has ended as Director of Ontario, and Executive Member of t.... More »

Housing slump? Recession? Not so fast…

– canadamortgagenews.ca

Housing slump? Recession? Not so fast…
Remember all those pessimists who were calling for a housing bubble or collapse?
If you listened to them and rented for the past eight years, how much would you have lost? How much would your rent have increased since then? And would you still be able to rent that condo or house… or would your landlord possibly have plans to sell it and leave you out in the cold?
We used to expect an economic slowdown or recession every five years. But something happened after the last big recession in 1990. Since then, there has really only been one recession: in 2009.
This came off the heels of the infamous US subprime mortgage crisis that crippled most of the world’s economies for years. Yet, in Canada, we got off relatively easy. Our slowdown lasted less than a year.

Some want to give credit to our strong banking system or strict government regulations. But the truth is, we are – and have always been – around five years behind the US. The truth is, we only started to try out those subprime mortgages when the sky fell on the global financial markets in 2009…

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