How to prepare for a 2023 recession + MORE Nov 19th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News

Popularity of variable-rate mortgages plummets to pre-pandemic levels + MORE Jun 21st

The popularity of variable-rate mortgages is continuing to fall and is now nearly at levels last seen prior to the pandemic in early 2020..... More »

With mortgage rates back on the rise, two-thirds of Canadians plan to delay their home purchase + MORE Jun 9th

Over two thirds (68%) of Canadians say they plan to wait until mortgage rates drop before they decide to purchase a house..... More »

CMHC consumer survey reveals the importance of follow-up contact by mortgage brokers + MORE May 13th

There was a simple but important lesson for mortgage brokers in CMHC's 2023 Consumer Survey released Wednesday: follow-up contact leads to more satisfied clients..... More »

Fixed mortgage rates surge higher as bond yields break above 4% Aug 21st

Bond yields broke through a key resistance point this week, leading to a fresh round of fixed mortgage rate increases..... More »

Canadians opting for shorter mortgage terms as they hope for declining interest rates + MORE Jun 15th

Canadian housing mortgage rates are all over the map. Don't get trapped in an unnecessarily costly mortgage agreement. You Don’t Need a Big Bank to Get a Mortgage - canadamortgagenews.caIt’s tough to get a mortgage these days. New and existing clients have been calling non-stop letting me.... More »
In the face of a slowing housing market, Equitable Bank reported strong third-quarter earnings results.

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The Great Recession scarred me. I was just about to graduate from university in 2008 when it hit: The fallout from the subprime mortgage crisis created a deluge of fear, anxiety and pure panic from all corners. The S&P 500 plunged by 57%, U.S. gross domestic product (GDP) declined by 3.8% and employment dropped by 6%. Similarly, in the European Union (EU), GDP sank by 4.4% in 2009 and about 6.7 million jobs were lost from 2008 to 2013. 

Never mind that Canada barely suffered compared to the United States and Europe—Canada’s GDP fell by 3.6% for only three quarters across 2008 and 2009 before recovering, while employment dipped by just 1.8% in the same time frame. Mass uncertainty still swept the air. Home ownership and retirement plans washed away and headlines screamed that there were no more jobs to be had. It seemed the only sensible course of action was to hide out and let it all rumble over. I enrolled in graduate school. 

Eventually, the global economy did recover…

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