Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The Latest in Mortgage News – Fresh Round of Fixed-Rate Hikes Underway Feb 3rd
Over the past couple of weeks, all of the big banks and countless other mortgage lenders have bumped up some of their fixed rates. Meanwhile, markets are now fully pricing in a rate hike by the Bank of Canada at its March meeting, which will raise rates for the country’s variable-rate holders..... More »
Mortgage Borrowing Set a New Record in 2021 + MORE Mar 17th
The amount of mortgage debt taken on by Canadians set a fresh record in 2021, eclipsing the previous record set the year before..... More »
What home buyers should know about the Canadian mortgage stress test + MORE May 28th
In late 2017, the federal government introduced a mortgage stress test for anyone applying for or renewing a home loan. But, if you’re like nearly half of Canadians polled by TD Bank in 2019, you may not understand what the test is—or who it affects.
And with the recent announcement that the s.... More »
Canadians want to age in place and are turning to reverse mortgages to make that happen May 28th
More than 9 out of 10 Canadians want to be able to live out their retirement years in the comfort of their home, and reverse mortgages are increasingly being used to make that a reality..... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
Latest in Mortgage News: June Data Indicates a Housing Rebound. But Will it Last?
– canadianmortgagetrends.com
Home prices, sales and new starts are all rebounding, according to the latest June data. But some, including the Canada Mortgage and Housing Corporation (CMHC), say risks remain. This week, a slew of housing data was released from local real estate boards and the CMHC showing overall improvements in June home price and sales, with housing markets in the West being a key exception. Here’s a rundown of some of that data (with housing starts data from CMHC): Greater Toronto […]
A Decline in House Prices Could Lead to an Increase in Mortgage Defaults
– ratesupermarket.ca
The COVID-19 pandemic has had a profound impact on the Canadian economy. While the number of new cases is now trending in the right direction in many parts of the country, the economic carnage will continue to be felt for some time. One area that is being closely watched is the real estate sector. There is a growing fear that we could soon witness a wave of forced sales and foreclosures in the wake of the pandemic.
As the potential for the spread of the virus became apparent earlier this year, governments at all levels in Canada ordered much of the economy to be shut down. This led to a record surge in unemployment. To offset the sudden loss of income experienced by millions of Canadians, the federal government quickly rolled out the Canada Emergency Response Benefit (CERB).
The country’s banks and other mortgage lenders also rose to the challenge by allowing its customers in need to defer their mortgage payments for up to six months. This deferral period has saved many from defaulting on their mortgages…
