Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Latest in Mortgage News: Fixed Mortgage Rates Could Fall Over Coronavirus Fears + MORE Jan 29th
As fear grows over the deadly Wuhan coronavirus that has killed more than 100 people, it is now becoming the world’s—and Canada’s—latest economic headwind. That fear spread to financial markets on Monday, with the TSX falling 142 points and New York’s Dow Jones ending the.... More »
Reaction to CMHC’s New Restrictions on Insured Mortgages Jun 7th
Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mor.... More »
Latest in Mortgage News: Canadians Say Low Interest Rates to Blame for High Home Prices Sep 5th
More than three-quarters of Canadians (77%) believe home prices in suburban and rural areas have risen to unsustainable levels, and most feel that ultra-low interest rates are to blame. A full 8 out of 10 people say low borrowing costs are to blame for the recent run-up in home prices, according to .... More »
Mortgage Career: PoloLoans Inc. + MORE Nov 27th
Company: PoloLoans Inc. Positions: Mortgage Agent Years of Experience Required: One Licences/Registrations required? Yes – Mortgage Agent Location: Collingwood, ON Apply to: Email info@brmlending.com or phone 1-877-662-5190 Mortgage Agent Individual will be working in a team environment, mento.... More »
Canada's New Mortgage Rules Could Make Life Tough For 1/3 Of Insured Borrowers + MORE Oct 7th
First-time homebuyers may need to lower their expectations under the Liberals' new mortgage rules.
A report by Genworth MI Canada says over one-third of insured mortgages — predominantly borrowed by first-time homebuyers — would have difficultly meeting the requirements.
First-time homebuyers,.... More »
Housing starts in Ontario, Quebec slowed in April
– moneysense.ca
OTTAWA – The pace of Canadian housing starts slowed in April to the lowest level in three months.
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Most regions of the country saw increases in urban areas on a seasonally adjusted basis but there were declines in Ontario and Quebec.
8 reasons why Vancouver real estate prices are so crazy »
Canada Mortgage and Housing Corp. says the seasonally adjusted rate for housing starts last month was 191,512 units — down from 202,375 units in March and 212,594 units in February
Ontario’s seasonally adjusted rate for urban starts fell to 62,672 starts in April, down from 85,518 in March while Quebec’s urban starts fell to 27,423 from 29,696.
Top 25 Toronto neighbourhoods to buy in »
The seasonally adjusted rate also fell in rural areas to 19,098 from 16,702.
In terms of types of housing, urban multiple-dwelling starts fell by 4,945 to 177,851 and single-detached housing starts fell by 3,522 to 56,959.
The CMHC’s six-month trend in April was 195,064 units — down from 196,103 in March…
Mortgage Costs About to Rise
– canadianmortgagetrends.com
Non-bank lenders rely heavily on securitization (selling mortgages to investors to raise money). They then lend that money out to new borrowers. This July, that’s about to get a whole lot more complicated…and costly. Big changes are afoot in the mortgage business, and they’re coming to a lender near you in two months. They include: Higher fees for lenders who use government-guaranteed mortgage-backed securities (MBS) Restrictions on securitizing mortgages in non-CMHC guaranteed securities A requirement to securitize portfolio (bulk) insured mortgages within six months. New Guarantee Fees The Department of Finance (DoF) wants to spur development of “private market funding READ MORE
