Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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How Canada’s Small Businesses Can Create Resilient Futures Oct 14th
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Adam Kirsh, AVP Salesforce Canada
Instead of ‘doomscrolling’ — otherwise known as obsessively checking social media for negative stories about the pandemic and .... More »
Reaction to CMHC’s New Restrictions on Insured Mortgages Jun 7th
Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mor.... More »
D+H Consumer Mortgage Study + MORE Mar 1st
D+H released some useful new mortgage consumer data last month, and it yielded some surprises. I covered a few of the key findings in this Globe story over the weekend, but below are the stats in more detail. (Our comments in italics.) ******** The study segmented consumers into two types: ‘Ne.... More »
RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026 Dec 4th
Despite interest rates having been elevated for over a year, Canada's largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years..... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Aug 20th
The first two rate cuts from the Bank of Canada (BoC) are finally making a mark on housing affordability.
According to the latest monthly affordability report from Ratehub.ca (Ratehub Inc. owns both Ratehub.ca and MoneySense), it became easier to qualify for a mortgage for the average-priced hom.... More »
Mortgage Career: Xeva Mortgage – Sales/Recruitment Manager
– canadianmortgagetrends.com
Company: Xeva Mortgage Location of position: South Surrey, British Columbia Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Sales/Recruitment Manager Position Type: Regular Position Status: Full Time Job: Sales/Recruitment Manager Primary Location: Vancouver, B.C. Hiring Salary: Base Salary $75,000/yr plus extremely competitive bonus structure (potential income of $150K+) Unposting Date: Aug 30, […]
BMO reintroduces 2.99% 5-year, fixed rate mortgage
– moneysense.ca
Image courtesy of Stuart Miles / FreeDigitalPhotos.netTORONTO – The Bank of Montreal has slashed its five-year, fixed mortgage rate to 2.99 per cent, a level that had previously raised concerns about it leading to an overheated housing market.
The bank (TSX:BMO) says it will offer the new rate until Sept. 30.
“This rate change is driven by the fact that bond yields have fallen and we are in what is another busy season for buying a home,” said BMO spokesman Paul Gammal on Wednesday.
Previously, BMO’s five-year, fixed rate had been 3.29 per cent.
The bank raised concerns from Ottawa when it offered the 2.99 per cent rate in March 2013. The move sparked a personal phone call from then-finance minister Jim Flaherty, who publicly chided the bank for lowering its key five-year rate, saying that he believed in “responsible lending” and was worried that the low rate would result in a race to the bottom with the other major banks.
Flaherty’s general concern was that the low rate would encourage Canadians to take on unsustainable loans and work against the government’s efforts to slow the momentum of the housing market…
More disclosure.. but still no standardization of Mortgage Penalties.
– canadamortgagenews.ca
Last week, we heard some potentially good news for Canadian consumers. Federal Finance Minister, Joe Oliver, announced Banks would have to provide consumers more disclosure on certain products, including collateral mortgages. We welcome more disclosure. However, before we get too excited and give the Federal govt too much credit, let’s wait to see if this […]
Mortgage Career: Equity Financial Trust – Business Development Manager
– canadianmortgagetrends.com
Company: Equity Financial Trust Location of Positions: Ottawa & Surrounding regions; Greater Toronto Area; London/Kitchener-Waterloo/Guelph Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Business Development Manager Location: Head office based in Toronto, ON. Recruiting for the following areas: Ottawa & Surrounding regions Greater Toronto Area London/Kitchener-Waterloo/Guelph […]
Mortgage Career: True North Mortgage – Salaried Mortgage Agent
– canadianmortgagetrends.com
Company: True North Mortgage Location of Position: Toronto, ON Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agent True North Mortgage is looking for a Mortgage Agent for their Toronto downtown locations. Mission Statement: To offer Canada wide mortgages at best rates with friendly, informative […]
