Latest in Mortgage News: CMHC to Get New Name, Maybe “Housing Canada” + MORE Sep 23rd

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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How Canada’s Small Businesses Can Create Resilient Futures Oct 14th

.c-logo img { display: inline-block; } .single-article .wp-caption-text {  text-align: center; } Created by   Adam Kirsh, AVP Salesforce Canada Instead of ‘doomscrolling’ — otherwise known as obsessively checking social media for negative stories about the pandemic and .... More »

Incorporate Balance Transfer Offers into Your Arsenal Oct 20th

As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers..... More »

National Housing Market Shows Signs of “Moderate” Vulnerability, CMHC Says Sep 26th

At the national level, Canada’s housing market showed “moderate evidence of overvaluation” in the second quarter, according to the Canada Mortgage and Housing Corporation. “The evidence of rising imbalances in some local housing markets coupled with the general weakening of h.... More »
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RateSupermarket.ca Will Become RATESDOTCA Sep 29th

We are excited to announce that RateSupermarket.ca will become RATESDOTCA. Don’t worry, besides a name change, how you compare the best credit cards and mortgage rates will remain the same. What does this mean for you? Our name is changing, but rest assured, everything else will remain the same. .... More »

Latest in Mortgage News: Toronto and Vancouver Home Sales Surge in September Oct 8th

The fall was supposed to herald in a period of more subdued housing activity and home price growth. But preliminary September data for the Greater Toronto and Vancouver areas tells a very different story. In the GTA, home sales reached a new record of 11,083, representing a 42.3% gain compared to Se.... More »
At 33, this nurse practitioner earning $120,000 a year wants to make a huge life change and move to Europe. But where to start?With a mortgage to pay off, Chloe is wondering: what’s the best way to get her finances in order and move across the pond?

Continue Reading On thestar.com »

What’s in a name? Well, in the case of the Canada Housing and Mortgage Corporation, “mortgage” likely won’t be for much longer. The housing agency announced last week that it will be undergoing a rebranding in the coming months to better reflect its mandate. CEO Evan Siddall says the current name overemphasizes homeownership financing and doesn’t highlight the agency’s work related to housing affordability. The name “Housing Canada” has already been floated, but federal legislation would be needed for an […]

Continue Reading On canadianmortgagetrends.com »

Equifax Canada has implemented changes to its mortgage inquiry process to enhance the protection of consumer information.

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Mortgage payment deferral, a six-month measure offered to Canadians this spring in response to the coronavirus pandemic, is coming to an end on September 30, 2020. 
The relief was offered to Canadians to help them stay in their homes while the job market recovered. And, according to the Canadian Bankers Association (CBA), as of July 2020, a whopping 775,000 Canadians took advantage of this program. (To put that number in context, there are currently 6 million homeowners with mortgages in Canada.) The result? A total of $180 billion worth of mortgage deferrals.
Experts fear a payment drop-off may be looming. Despite the mortgage deferrals, people will still be unable to make mortgage payments these next few months. While you can still apply for the program up until the end of the month, the vast majority of deferrals will be ending in October—more than 500,000 actually. That’s from the CBA, too.
So, what can you do if mortgage payments are starting back up and you’re not ready? That depends on your situation…

Continue Reading On moneysense.ca »

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