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
Can Mortgage Brokers Compete with Low Online Rates? Oct 23rd
As mortgage brokers, we should assume our clients and prospects have access to much of the same information we do. But sometimes they don’t, and in such cases we can focus on finding the best lender solution..... More »
Under-35 households lead the way in reducing mortgage debt, StatCan reports + MORE Jan 27th
Canada's youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022..... More »
Buying a home? Here’s how to decide how much to put down Oct 22nd
Should you put the minimum down, leaving you more for moving expenses or the maximum to reduce your mortgage payments?.... More »
Kerzner: Your Involvement is Vital to the Mortgage Industry Dec 6th
We are all learners; as parents, as students, as leaders, as employees. An important part of learning, for me, is reflection. We can only really grow and improve when we take a good, hard look at what’s working and what’s not. My time has ended as Director of Ontario, and Executive Member of t.... 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 »
Home Capital strikes $1.2-billion mortgage sale to bolster finances
– theglobeandmail.com
Lender will sell portfolio of commercial mortgages to KingSett Capital
Home Capital inks deal to sell $1.2B of mortgage assets to KingSett Capital
– canadianbusiness.com
Home Capital Group is selling $1.2 billion in mortgage assets to real estate-focused private equity firm KingSett Capital as it looks to stabilize its position following a flood of customer withdrawals from their savings accounts.
The deal will allow Home Capital (TSX:HCG) to reduce its debt, after taking on an emergency $2-billion line of credit with onerous terms from the Healthcare of Ontario Pension Plan.
The alternative mortgage lender says it expects to lose approximately $15 million on the transaction.
Home Capital says KingSett will buy the portfolio for 99.61 per cent of its outstanding principal value, less a share of future credit losses.
The company will initially receive 97 per cent of the outstanding principal value of the mortgages. The remainder will be subject to any credit losses in the portfolio.
“This transaction will help the company further stabilize its liquidity position and highlights the flexibility and options created by the quality of our assets,” Bonita Then, Home Capital’s interim president and CEO, said in a statement…
The deal will allow Home Capital (TSX:HCG) to reduce its debt, after taking on an emergency $2-billion line of credit with onerous terms from the Healthcare of Ontario Pension Plan.
The alternative mortgage lender says it expects to lose approximately $15 million on the transaction.
Home Capital says KingSett will buy the portfolio for 99.61 per cent of its outstanding principal value, less a share of future credit losses.
The company will initially receive 97 per cent of the outstanding principal value of the mortgages. The remainder will be subject to any credit losses in the portfolio.
“This transaction will help the company further stabilize its liquidity position and highlights the flexibility and options created by the quality of our assets,” Bonita Then, Home Capital’s interim president and CEO, said in a statement…
Home Capital Group Inc. said Tuesday it has struck a deal to sell a portfolio of commercial mortgage assets valued at $1.2 billion to private equity real estate investment firm KingSett Capital.
Is the Bank of Canada signalling that more mortgage rule changes are coming?
– canadianmortgagetrends.com
Recently, the Bank of Canada released its semi-annual Financial Systems Review (PDF document), which identifies some of the major risks that the Bank foresees on the economic horizon. Unsurprisingly, the Bank pinpoints increased levels of Canadian household debt and rapidly increasing prices in Toronto and Vancouver as vulnerabilities to the financial system. The good news is […]
Canada Housing Market Update: Sales Drop, Some Mortgage Rates Increase
– ratesupermarket.ca
Last month we reported that Canadian real estate sales slipped slightly, yet prices had increased. The Canadian Real Estate Association (CREA) just released their May numbers and let’s just say things have escalated quickly.
The Toronto region saw sales drop 25.3 per cent from April to May. Nationally, there was a 6.2 per cent decline – the largest month-to-month drop in five years.
Why did this drop happen? It could be that the Ontario government’s 16-point Fair Housing Plan played a role. It’s likely many sellers were looking to cash out quickly so they listed their homes, while the 15 per cent tax on foreign buyers in Ontario may have scared off some potential buyers.
The current real estate trend in Canada
You’ve likely noticed that trends can change quite quickly in the Canadian housing market. As I write this post, the real estate market across the country appears to be cooling, but prices have yet to drop. Nationally, prices were actually up 4.3 per cent compared to a year ago, as the average price of homes sold in May 2017 was $530,304…
