Latest in Mortgage News: Toronto and Vancouver Home Sales Up 25+% in October Nov 7th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Latest in Mortgage News – Industry Announcements Nov 26th

There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »

Optimism Returns to the Markets. Could Fixed Rates Start to Rise? Nov 13th

Bond yields in both Canada and the U.S. jumped on news that Pfizer’s COVID-19 vaccine has proven more than 90% effective in its trials. Following the announcement on Monday, the all-important 5-year bond yield is now hovering around 0.50% for the first time since early June. Since bond yields .... More »
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It’s Financial Literacy Month Nov 10th

We’re celebrating Financial Literacy Month! Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more. N Register Now: https://buff.ly/3lhmUl3 Hot Topics: I.... More »

“Should we refinance our mortgage?” Nov 19th

Q. We’re thinking about breaking our existing home mortgage to take advantage of the low interest rates we’re seeing now, and would appreciate some guidance. This is our scenario: Mortgage principal: $572,000 Weekly payments: $746.00 Interest rate: 3.78% fixed and locked in until December  2023.... More »

Q3 Lender Earnings: The Unexpected Recovery Dec 2nd

The country’s key mortgage lenders recently released their third-quarter earnings, and it’s safe to say results were better-than-expected all around. Equitable Bank had its best-ever third quarter, while First National had its own record quarter. “For customers and partners, we ori.... More »
The postponed spring housing market has now extended its run well into the fall, with home sales in Toronto and Vancouver up 25% and 29%, respectfully, compared to a year ago. The high demand is continuing to put pressure on prices as well. The average selling price for all home types in Toronto rose 13.7% to $968,318, according to the Toronto Regional Real Estate Board (TRREB). However, there was a divergence between market segments, with detached home prices rising 14.8% […]

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