Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Making sense of the markets this week: March 24, 2024 + MORE Mar 25th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Lower inflation clears runway for rate cuts
Canadians dreading their spring and summer mortgage renewals got some good n.... More »
Ask the Expert: Steve Garganis – What’s your Canadian mortgage strategy in Trump’s tariff war? + MORE Apr 15th
Make no mistake, we are in a war — an economic war. President Donald Trump has threatened, imposed, or temporarily reversed tariffs on just about every country in the world, including Canada.
Canada will now see a 25% tariff on aluminum, steel, Canadian automobiles and non-CUSMA-compliant .... More »
Three-quarters of Equitable Bank’s uninsured mortgages to renew at lower rates this year + MORE Mar 1st
Equitable Bank is optimistic about continued loan growth in 2025, buoyed by expectations that most of its single-family mortgage borrowers will renew at lower rates this year..... More »
Challenges and opportunities for mortgage brokers in the current rate cycle + MORE Sep 13th
The current rate environment presents new hurdles for mortgage brokers while also opening up potential growth opportunities for those able to adapt..... More »
What To Expect in 2023 Jan 6th
Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. B.... More »
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?Latest in Mortgage News: CMHC to Get New Name, Maybe “Housing Canada”
– canadianmortgagetrends.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 […]
Equifax Rolls Out Changes to its Mortgage Inquiry Process
– canadianmortgagetrends.com
Equifax Canada has implemented changes to its mortgage inquiry process to enhance the protection of consumer information.
Your mortgage payment deferral is over. Now what?
– moneysense.ca
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…
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…
