Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Mortgage Professionals Canada promotes broker expertise in newly launched campaign + MORE Oct 17th
Mortgage Professionals Canada (MPC) has unveiled a new national campaign emphasizing the pivotal role mortgage brokers play in guiding Canadians towards their homeownership dreams..... More »
Canada faces $400 mortgage payment spike: How banks are preparing for the renewal storm + MORE Oct 31st
With nearly half of mortgages set to reset by 2026, Canada’s banks say strong borrower equity and falling rates will cushion households, even as arrears edge higher and affordability remains strained..... More »
Trump fires Federal Reserve Governor Lisa Cook - The Globe and Mail Aug 26th
Trump fires Federal Reserve Governor Lisa Cook The Globe and MailWhat Trump’s firing of Fed governor means for central bank’s independence The GuardianTrump seeks to fire Fed governor, triggering fresh independence crisis Sky NewsTrump has accused Fed Governor Li.... More »
Have fixed mortgage rates peaked? May 25th
Notwithstanding some additional rate hikes last week, fixed mortgage rates have seemingly plateaued following a stellar run-up over the past several months..... More »
TD reports strong mortgage volumes and stabilizing amortizations + MORE Aug 27th
Despite a sharp slowdown in mortgage originations this year, TD reported continued strong volume growth of 4% in the second quarter..... 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…
