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Latest News
Insights from the 2017 National Mortgage Conference + MORE Dec 3rd
Another national mortgage conference has come and gone, but many will remember this year’s instalment as nothing short of a success. More than 1,200 mortgage professionals from across the country descended upon Niagara Falls for Mortgage Professionals Canada’s annual National Mortgage Conference.... More »
FICOM Announces Comp Disclosure Plans May 3rd
B.C.’s mortgage broker regulator, FICOM, updated the industry Friday on the contentious new compensation disclosure guideline. (More on that contention) FICOM said it processed 70+ comments about the new policy. Here’s what it concluded: Simpler Disclosures are Better The Mortgage Brokers Ac.... More »
First National saw revenue rise 29% in 2023 despite drop in residential mortgage volumes + MORE Mar 10th
First National wrapped up a "successful" 2023 in spite challenging economic conditions and a drop in residential mortgage originations..... More »
Don’t Fear the Digital Future of the Mortgage Industry + MORE Dec 15th
There’s no denying the mortgage industry—like many others—is in the midst of a digital transformation. Depending on your perspective, that’s something that can either be feared or embraced as a new opportunity. The fear, of course, is that as the industry moves towards greater automa.... More »
Canadians opting for shorter mortgage terms as they hope for declining interest rates + MORE Jun 15th
Canadian housing mortgage rates are all over the map. Don't get trapped in an unnecessarily costly mortgage agreement.
You Don’t Need a Big Bank to Get a Mortgage - canadamortgagenews.caIt’s tough to get a mortgage these days. New and existing clients have been calling non-stop letting me.... More »
Are Your Borrowing Habits to Blame?
– ratesupermarket.ca
It’s no secret that the bargain-basement cost of borrowing in Canada tempts consumers into taking on more debt; it’s a great time to apply for a mortgage, line of credit, and other types of variable-based loans. But that isn’t stopping most of us from racking up our credit cards – the most expensive debt out there.
Read on for the findings from our recent Debt Denial survey – and what’s potentially to come for mortgage borrowing in Canada.
INFOGRAPHIC: 27.5% of Canadians are in Credit Card Denial
When it comes to understanding our debt, over a quarter of Canadians are getting it wrong. Our Debt Denial study finds the truth about how our credit card balances stack up to the national average – and it isn’t pretty.
Check out our infographic and calculator to see if YOU are in debt denial!
Read Penelope’s Blog | 27.5% of Canadians are in Credit Card Denial
Low Oil Leads to Slower Home Sales: CREA
Sliding oil prices have finally caught up with Canada’s housing market; the latest numbers from Stats Can and the Canadian Real Estate Association find sales activity slowed this month by 3…
FICOM CEO on Mortgage Size Recommendations
– canadianmortgagetrends.com
The great thing about regulators is that they ask the questions many of us in the mortgage industry do not. Take head B.C. mortgage regulator Carolyn Rogers, for example. On Tuesday she questioned the motivations of some in the mortgage business. Speaking at the Mortgage Brokers Association of BC (MBABC) conference in Richmond, B.C., FICOM’s CEO said, “…There is no question that borrowers are stretching ever further and taking on more and more debt to purchase a home in this province. I worry that the compensation structures in place for both lenders and brokers can make this worse.” She added: “Compensation READ MORE
Mortgage Career: CMHC
– canadianmortgagetrends.com
Company: CMHC Position: Senior Account Manager, Client Relations Location: Vancouver, BC Senior Account Manager, Client Relations Bring your relationship building skills and mortgage lending expertise to the position of Senior Account Manager in Vancouver, BC. As a member of the Client Relations team, you will promote and sell CMHC mortgage loan insurance among high-volume key clients, while building and maintaining positive business relationships in an assigned portfolio or territory. This full-time permanent position is an exceptional opportunity for a high-energy, self-motivated professional to achieve his/her professional goals, while creating a sustainable organization that is at the heart of a world-leading READ MORE
$15,000 savings by breaking his mortgage early and getting into today’s low rates.
– canadamortgagenews.ca
Look, I don’t advocate paying penalties, however, if there is an obvious savings to be had, then you have to do it. We’ve reached a point where interest rates are so low, it’s worth a review. Here are some recent experiences with real people…. Enjoy. I had a client contact me about breaking […]
Will Variable rates increase as Bank Prime drops?
– canadamortgagenews.ca
Here’s a warning to all…. Watch out for the BANKS to increase their Variable rate mortgage pricing. History tells us that when the Bank of Canada lowers their Target Rate, and the Bank Prime falls, Variable rate mortgage pricing increases. If you have a mortgage coming due in the next 4 months, speak […]
