Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Efforts to cool housing market sparked drop in CMHC insurance + MORE May 30th
Canada Mortgage and Housing Corp. says total insured volumes fell 41 per cent in the first quarter
.... More »
An Updated Look at Insured Mortgage Risk + MORE Dec 17th
We got a new profile of insured mortgage borrowers last Wednesday. It came from Genworth Canada’s Investor Day where the company briefed shareholders on the its current risk profile. The nation’s second-largest default insurer says government changes have made its portfolio “muc.... More »
Bridgewater’s New Gateway Mortgage Dec 8th
Bridgewater recently unveiled its “Gateway” product, a conventional mortgage for homeowners with credit and/or income provability issues. It’s meant to be short-term financing (one to three years) until a borrower can qualify for better-priced long-term financing. Todd Poberznick,.... More »
New Mortgage Rules Improving Credit Quality, BoC Says + MORE Nov 18th
Mortgage rules implemented over the past two years, along with rising interest rates, have worked to improve credit quality and reduce the number of highly indebted borrowers in the market. That’s according to a Bank of Canada research paper released this week and co-authored by bank staffers Olga.... More »
Investors Who Made Cash Off U.S. Housing Collapse Now Betting Against Canada: Reports + MORE Jun 24th
Crash could come in autumn, when U.S. expected to raise rates
Vancouver expected to be epicentre
Similar bets against Canada made in 2013, no collapse followed
When it comes to Canada’s housing markets, there’s a big difference between how Canadians perceive things and how the rest of t.... More »
Ask the Experts: Should We Tear Down Our Home?
– ratesupermarket.ca
Welcome to RateSupermarket.ca’s Ask the Experts series! In each post, we’ll look at real financial issues from readers, and get the expert take on how they should proceed. Want to take part? Email your finance question to Penelope@ratesupermarket.ca with the subject line Ask The Experts. Here, parents Nina and Keith wonder if they should add on to their existing home to accommodate their family – or if a bulldozer is in their near future.
Keith and Nina: Drawing The Line On Home Improvements
Financial Profile:
Household income of $180,000
House value of $520,000
Remaining mortgage of $135,000
No RRSP savings, but both are on track to get healthy defined pensions through their workplaces
Education savings in place for two children, with $100 contributed to each monthly
One car, paid off
Keith and Nina need a bigger space but don’t want to move from their Scarborough-area home. They own a house on a large plot. For that reason, they are looking at two choices:
Extending their existing home…
Mortgage Career: Canada Mortgage Direct – Mortgage Specialist (Underwriter)
– canadianmortgagetrends.com
Company: Canada Mortgage Direct Location: Calgary, Alberta Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Mortgage Specialist (Underwriter) Job Description Role: To underwrite, process, approve mortgage applications and build strong working relationships with associates to increase the funding ratios and the overall portfolio. Along with working with the associate, another main key focus […]
Bank of America settles mortgage probes for $16.65-billion
– theglobeandmail.com
Deal announced Thursday calls for the bank to pay a $9.65-billion cash penalty, and provide about $7-billion of relief to struggling borrowers
Mortgage Career: VERICO Canada – Mortgage Underwriting Specialist
– canadianmortgagetrends.com
Company: VERICO Canada Location of position: Vancouver, B.C. Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Manager Mortgage Underwriting VERICO Canada is currently looking for an exceptional underwriter with great customer service and communication skills. If you have at least 5 years of experience as an underwriter […]
New Homes to Slow, Rates and Prices to Rise: CMHC Q3 Housing Market Outlook
– ratesupermarket.ca
It seems everywhere you look, there’s evidence of Canada’s booming new home construction market – but that’s not expected to last, according the the Canada Mortgage and Housing Corporation (CMHC). The national housing agency anticipates developers will stop bringing as many homes to market and will shift focus to selling what’s already built in its quarterly Housing Market Outlook, released last week.
Although both prices and new housing starts are still trending upwards, CMHC notes, the pace of construction is expected to slow significantly over the next two years.
“Recent trends have shown an increase in housing starts, which is broadly supported by demographic fundamentals. However, our latest forecast calls for starts to edge lower as builders are expected to reduce inventories instead of focussing on new construction,” says Bob Dugan, chief economist for CMHC.
The forecast predicts lower sales volumes for 2015, with 163,000 to 203,200 new homes expected to be built…
