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
GTA home sales drop 16% in 2018, fewer houses listed: TREB + MORE Jan 5th
The number of homes sold in Toronto and the surrounding area fell in 2018 as homebuyers and sellers grappled with a new reality of higher interest rates and stricter mortgage rules..... More »
50+ with little or no Mortgage? You Need a Line of Credit! + MORE May 15th
Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend.... More »
What it’s like to be a first-time home buyer in Ontario—for real + MORE Apr 25th
We’d been looking for over two years when we finally closed on our home last year in Vaughan, Ontario, just north of Toronto. As first-time home buyers in Ontario, my husband and I had seen around 30 houses, had been outbid on five or six and had expanded our search area from the middle of Toronto.... More »
Q4 2020 Bank Earnings – The End of Mortgage Deferrals Jan 13th
When 2020 came to an end, so too did the vast majority of mortgage deferral programs offered by the Big 6 banks and other Canadian lenders..... More »
Read this before applying for the First-Time Home Buyer Incentive + MORE Jun 19th
In a red-hot real estate market, a little help with the down payment on a home can go a long way—especially when you’re a first-time buyer without the advantage of equity in an existing property. So when the Canadian federal government decided, in 2019, to begin offering first-time home buyers d.... More »
The Globe and MailHome Capital board says no rush to sell businessThe Globe and MailBoard members at mortgage lender Home Capital Group Inc. said the troubled company is combing through a range of restructuring options, but will not pursue a rapid sale of its business. Home Capital's directors and interim management said Friday on a …Struggling mortgage lender Home Capital says it's in no rush to sellCTV NewsThe pitfalls of blending public and privateHamilton Spectatorall 34 news articles »
Toronto mortgage lender Home Capital says its deposits continue to fal
– canadianbusiness.com
Home Capital Group stock retreated in early trading Wednesday after it disclosed that deposits to its savings accounts continue to dwindle as it tries to restore investor confidence.
The Toronto-based mortgage lender said it expected to have $134 million left in its high-interest savings accounts as of Wednesday, down just $12 million from the day before but a sharp decline from $1.4 billion just over two weeks ago.
The company (TSX:HCG) said total GIC deposits stood at $12.58 billion as of Monday, down from $13.01 billion as of April 24.
On the S&P/TSX composite index, Home Capital shares were down seven per cent or 60 cents at $8.26 in early trading. The stock jumped $2.03 or nearly 30 per cent on Tuesday after HCG announced an identified buyer is interested in some of its mortgage portfolio.
Home Capital said the tentative non-binding agreement could cover up to $1.5 billion of its mortgage assets, but it provided no detail about how much cash it would get in return or when it expected a deal to be finalized…
The Toronto-based mortgage lender said it expected to have $134 million left in its high-interest savings accounts as of Wednesday, down just $12 million from the day before but a sharp decline from $1.4 billion just over two weeks ago.
The company (TSX:HCG) said total GIC deposits stood at $12.58 billion as of Monday, down from $13.01 billion as of April 24.
On the S&P/TSX composite index, Home Capital shares were down seven per cent or 60 cents at $8.26 in early trading. The stock jumped $2.03 or nearly 30 per cent on Tuesday after HCG announced an identified buyer is interested in some of its mortgage portfolio.
Home Capital said the tentative non-binding agreement could cover up to $1.5 billion of its mortgage assets, but it provided no detail about how much cash it would get in return or when it expected a deal to be finalized…
How Does the Home Capital Crisis Affect Me?
– ratesupermarket.ca
As of late, Home Capital Group is dominating the headlines. To quickly summarize, on April 19, the Ontario Securities Commission (OSC) claimed that brokers had falsified information on mortgage applications submitted to Home Trust. As a result, shares in the company dropped while customers withdrew more than $1 billion in deposits from Home Capital Group subsidiaries. The sudden lack of deposits forced Home Capital to secure a loan with less-than-favourable terms.
Since we wrote a detailed post on what’s happening with Home Capital Group, the company has tapped $1.4 billion from their $2 billion credit line and suspended their dividend. But, many people want to know how this news affects them personally and if there will be any effect on the hot housing markets in Canada. Here are the answers to some of the most common questions people are asking.
Does this mean we’re in a housing bubble?
There’s no definite answer to this question, so we need to look at the information currently available to us…
The war for control of the Home Capital story
– macleans.ca
(Chris Helgren/Reuters)Gerald Soloway must have been feeling jubilant on an earnings conference call in May 2016. It was, in fact, his last such call before retiring as CEO of Home Capital Group, the company he had co-founded 30 years ago. The alternative mortgage lender had long provided fat returns, but also found itself the target of short sellers betting the stock would crash alongside the Canadian housing market. “We don’t put a lot of time and energy into dealing with what often is false comments by the shorts,” Soloway said. But he couldn’t resist a final dig at those rooting for his firm to fail, relaying a “little ditty” about how short sellers were apparently dealt with in the 19th century: “He who sells what isn’t his’n, must buy it back or go to pris’n.”
It was just one salvo in a long-running war of words around Home Capital. The company’s stock has crashed nearly 70 per cent this year as depositors pulled funding after the Ontario Securities Commission (OSC) accused management of misleading investors…
The war for control of the Home Capital Group story
– canadianbusiness.com
Gerald Soloway, then CEO of Home Capital Group, addressing investors at the company’s 2011 AGM. (Aaron Vincent Elkaim)Gerald Soloway must have been feeling jubilant on an earnings conference call in May 2016. It was, in fact, his last such call before retiring as CEO of Home Capital Group, the company he had co-founded 30 years ago. The alternative mortgage lender had long provided fat returns, but also found itself the target of short sellers betting the stock would crash alongside the Canadian housing market. “We don’t put a lot of time and energy into dealing with what often is false comments by the shorts,” Soloway said. But he couldn’t resist a final dig at those rooting for his firm to fail, relaying a “little ditty” about how short sellers were apparently dealt with in the 19th century: “He who sells what isn’t his’n, must buy it back or go to pris’n.”
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