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
60% of Canadian mortgage renewals to face higher rates by 2026: BoC Jan 14th
Despite interest rates having fallen materially in 2024, recent data show that many Canadian homeowners could still face payment shocks when their mortgages renew..... More »
Creative Ways to Finance Your New Home Aug 19th
In a tight housing market, it can be tough to come up with the cash you need for a new home. Many Canadians looking for new alternatives are having to get creative. For some folks, it may be as simple as finding friends or family to take the journey with them, or sharing their homes with others.
Co.... More »
Bank of Canada raises key interest rate to 1.25% + MORE Jan 17th
OTTAWA — The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer — and to send a signal that more increases are likely on the horizon.
The central bank pointed to unexpectedly solid economic numbers as.... More »
Q2 2021 Bank Earnings – Profits Soar as Loss Provisions Plunge + MORE Jun 19th
The Big 6 banks saw profits soar in the second quarter thanks to strong mortgage growth and massive loan-loss provision reductions..... More »
CMHC Makes Dividend Payments to Government: What are They and Who do They Help? + MORE Apr 5th
Starting in 2017, the Canada Mortgage and Housing Corporation (CMHC) has been making both special and regular dividend payments to its shareholder, the Government of Canada. The largest sum was for $4-billion in June 2017, which was spread over two years. At that time they announced the impl.... More »
CMHC Q1 Report Calls for Housing Market Slowdown
– ratesupermarket.ca
At the beginning of February, the Canada Mortgage and Housing Corporation released its first-quarter Housing Market Outlook report. The Crown agency’s updated national forecast predicts a stable to slightly declining housing market for this year and into 2016, a finding that’s echoed by economists at the country’s big banks.
Government Accountability
The CMHC looks at two factors when developing its outlook: the total number and sale price of resale homes, and the tally of “housing starts” (i.e. the number of new homes being constructed).
Based on Multiple Listing Service (MLS) stats, the total number of existing home sales will be stable for 2015 and 2016, with somewhere between 150,000 and 200,000 homes exchanging hands across the country. While the CMHC suggests there is “a modest amount of overvaluation at the national level,” overall, the price those homes sell for is expected to rise very modestly, by about 1.5 per cent, to a national average in the range of $384,000 to $428,000 in 2015…
No Love Lost: Why Families Fight Over Wills
– ratesupermarket.ca
Shortly before she died, Toronto resident Pauline Rudling drew up a straightforward will leaving two properties to her two sons, one for each of them. What could be simpler?
Nonetheless, a few years and several arguments later, her sons wound up in court, running up a stack of legal fees to try to determine how the estate should actually be divided. The two disagreed on whether taxes and estate expenses were to be shared equally between them or deducted only from the value of the older son’s house.
In the end, the judge ruled that all expenses of the estate, except for a mortgage on one of the houses, had to be shared equally between the brothers. The total costs of the original ligation and a subsequent appeal? A whopping $53,000.
All of this could have been avoided if the family had worked together to draft the will prior to the parent’s death, says Toronto estate lawyer Les Kotzer, the author, along with Barry Fish, of Where There’s an Inheritance: Stories from Inside the World of Two Wills Lawyers…
Introducing MDashboard
– canadianmortgagetrends.com
Many moons ago we were sitting down contemplating our frustration at how many websites we had to visit to get housing-market data. And then we uttered the five magic words: “Wouldn’t it be nice if…” Fast forward some years and the Canadian Association of Accredited Mortgage Professionals (CAAMP) has completed that sentence by building a […]
Mortgage Career: Verico CML Canadian Mortgage Lender Inc.
– canadianmortgagetrends.com
Company: Verico CML Canadian Mortgage Lender Inc. Position: Mortgage Professional Location: Alberta or Saskatchewan Mortgage Professional It’s your choice to make. A job is an activity. A career is a pursuit A job provides challenge. A career requires ingenuity. A job is a means to an end. A career is a journey. A job […]
Mortgage Career: PropertyGuys.com
– canadianmortgagetrends.com
Company: PropertyGuys.com Mortgage Position: Mortgage Agent Location: Moncton, NB; Halifax, NS; PEI; St. John’s, NFLD; ON Mortgage Agent Experience Required 2 years industry related Licences Required? Yes, if required in province of employment Location: Moncton NB; Halifax, NS; PEI; St John’s, NFLD; Ontario Contact: salbert@propertyguys.com Job Description At PropertyGuys.com Mortgage we’re crazy obsessed with making […]
