Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Fixed mortgage rates are rising. What’s the deal? + MORE Apr 21st
As variable-rate mortgage holders eagerly anticipate the Bank of Canada's first rate cut, fixed rates are heading in the other direction: up..... More »
Some banks rethinking strategy on home mortgage competition + MORE Sep 7th
Some Canadian banks say they're starting to question how aggressively they go after mortgage customers amid intense competition..... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Aug 20th
The first two rate cuts from the Bank of Canada (BoC) are finally making a mark on housing affordability.
According to the latest monthly affordability report from Ratehub.ca (Ratehub Inc. owns both Ratehub.ca and MoneySense), it became easier to qualify for a mortgage for the average-priced hom.... More »
Canadian home sales hit “speed bump” in July, despite rate cuts Aug 17th
Falling mortgage rates haven't yet had a a significant impact on real estate activity, according to recent data..... More »
Canada’s inflation rate falls to 2.5%, paving way for another interest rate cut + MORE Aug 23rd
Canada’s annual inflation rate fell to 2.5% last month, matching economists’ forecasts and solidifying expectations for a third consecutive interest rate cut in September.
Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the.... More »
FSRA strips licences of 29 Ontario mortgage brokerages
– canadianmortgagetrends.com
FSRA has revoked the licences of 29 brokers who did not appoint a principal broker, failed to file their 2021 Annual Information Return, or failed to do both.
How much income do I need to qualify for a mortgage in Canada?
– moneysense.ca
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119, according to the Canadian Real Estate Association (CREA). How much money do Canadians need to earn, on average, to afford a house?
Affordability conditions aren’t likely to improve anytime soon, despite the optimism that mortgage rates will stabilize; a monthly study conducted by Ratehub.ca reveals it has become increasingly tougher to afford a home since the start of the year. (Ratehub and MoneySense are both owned by Ratehub Inc.) The study gauges affordability by calculating the minimum annual income required to purchase the average-priced home in 13 of Canada’s major housing markets, based on real estate data, as well as average mortgage and stress test rates. It measures the trends in affordability on a month-to-month basis, as rates and home prices fluctuate…
Housing starts down seven per cent in March from February: CMHC
– canadianmortgagetrends.com
Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.
Home Trust’s merger with Fairstone Bank: what it means for customers and brokers
– canadianmortgagetrends.com
Alternative mortgage provider Home Trust has entered into a merger agreement with unsecured lender Fairstone Bank, but what effect the deal has on customers and brokers remains unknown.
