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Latest News
Inflation holds steady at 1.7% in May Jun 26th
May inflation figures showed marginal improvements in some of the Bank of Canada’s closely watched price figures—a step in the right direction, some economists say, but likely not enough to convince the central bank to cut interest rates.
The annual pace of inflation held steady at 1.7% in Ma.... More »
Latest in Mortgage News: Why the Fed Cut Rates this Week Aug 4th
The big news of the week was the Federal Reserve’s interest rate cut, the first one since the financial crisis more than 10 years ago. Despite a strong domestic economy, Federal Reserve Chairman Jerome Powell said the cut was a pre-emptive move to brace against “downside risks.” &#.... More »
Bank of Canada holds rate, hints at increases to come Dec 6th
OTTAWA — The Bank of Canada stuck with its trend-setting interest rate Wednesday — but it offered fresh, yet cautious, warnings to Canadians that increases are likely on the way.
The central bank has now left the rate locked at one per cent for two straight policy announcements after the stren.... More »
Record-Low Variable Rate Wars EXPIRE THURSDAY… Don’t miss out! + MORE May 30th
The incredible variable rate wars we’re seeing this month are about to come to a close! It would be a shame to miss out on these savings! And, while there is a possibility that they’ll extend into June, I wouldn’t risk it – deep savings like these don’t come around eve.... More »
BREAKING: Ontario Car Insurance Rates Have Increased Oct 16th
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.06 per cent on average..... More »
Canadian Mortgage Debt $11 Billion Less Than Thought: CIBC Study
– ratesupermarket.ca
Are Canadians paying off their mortgages faster than originally thought? A new study from CIBC finds there are $11 billion in mortgage payments made annually that aren’t being accounted for by the Bank of Canada – essentially, the mortgage debt load carried by Canadians is much better than previously thought.
Good News for the Bank of Canada
The CIBC study should help lessen concerns from the Bank of Canada that consumers are taking on too much household debt. Our central bank has implemented mortgage tightening measures in recent years, including reducing the maximum amortization period from 40 years to 25 years on high-ratio mortgages.
Read more:
How Will New Amortization and Refinance Rules Affect Me?>
CMHC Axes Second Home and Self Employed Mortgages>
“Canadian households did not only resist the temptation of low rates, they used those low rates to pay down debt at a pace not seen before,” says Benjamin Tal, deputy chief economist at CIBC. “Despite a lethargic labour market and an unemployment rate that is still too high for the Bank of Canada’s liking, debt service performance in Canada has almost never been better…
Mortgage Career: FSCO
– canadianmortgagetrends.com
Company: FSCO Position: Senior Compliance Officers Location: Toronto, ON Senior Compliance Officers one temporary (up to six months) two temporary (up to 12 months) The Financial Services Commission of Ontario (FSCO) is seeking individuals with exceptional operational experience, analytical skills and sound knowledge of market conduct and financial analysis principles and methodologies to lead and […]
Mortgage Career: intelliMortgage Inc.
– canadianmortgagetrends.com
Company: intelliMortgage Inc. Position: Fulfillment Officer Location: Mississauga, ON Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Fulfillment Officer intelliMortgage Inc. is changing how mortgages are arranged in Canada. The company’s one-of-a-kind self-directed mortgage model lets homeowners take full control of the mortgage process, thereby minimizing recommendation […]
Mortgage Career – B2B Bank
– canadianmortgagetrends.com
Company: B2B Bank Position: Business Development Manager Location: Edmonton, AB Business Development Manager – Mortgages Position Summary: The mandate of the role is to market B2B Bank Mortgages to all licensed Mortgage Brokers within an assigned territory. The incumbent will seek out new business opportunities and continue to build positive relationships with existing mortgage brokers […]
Tempting low mortgage rates could bring re-fi wave, home buying; but maybe only so far
– walletpop.ca
WASHINGTON – With mortgage rates sliding for a fifth straight week, the possibility of locking in a rate below 4 per cent is tempting for consumers and could unleash a wave of refinancing. It may even convince some Americans to buy their first home.Yet there are limits to how far the wave can extend. Millions of homeowners already re-financed in 2013, when the average 30-year mortgage rate stayed below 4 per cent until mid-year. And the overall housing market remains hampered by tight mortgage credit, rising home prices and stagnating incomes.This week the average rate on the 30-year loan fell to 3.92 per cent, mortgage company Freddie Mac reported Thursday. The average for a 15-year mortgage, a popular choice for people who are refinancing, retreated to 3.08 per cent from 3.18 per cent.That is sparking a boomlet of homeowners looking to refinance as long-term mortgage rates plummet. Homeowners eager for a bargain rate are firing off inquiries to lenders. Applications for “re-fi’s” jumped 23 per cent in the week ended Oct…
