Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Scotiabank’s return to competitive mortgage pricing is “huge” for brokers + MORE Aug 2nd
Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, .... More »
Inflation data and Bank of Canada decision lead busy week for mortgage watchers Mar 16th
Inflation, home sales and two central bank rate decisions could shape expectations for borrowing costs and the spring housing market..... More »
Canadians Need Guidance With Their Mortgages + MORE Oct 3rd
That’s the takeaway from a national survey released this week by Rates.ca, which found half of Canadians aren’t aware of the mortgage options available to them. Not only that, but Canadians are lacking in some other basic mortgage trivia, with an astounding 9 out of 10 respondents not kn.... More »
The Most Surprising Tip to Burn Your Mortgage Faster + MORE Mar 4th
High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free in a short amount of time is possible.
Le.... More »
Ask the Expert: Can the new Liberal housing plan solve Canada’s housing crisis? Jun 14th
Recently, Prime Minister Mark Carney and the Liberal party unveiled Building Canada Strong, a new ambitious housing plan to accelerate residential construction with the goal of building 500,000 homes a year.
Their most notable policies include cutting development fees for new cons.... More »
Mortgage Careers of the Week
– canadianmortgagetrends.com
Company: MCAP Service Corporation Position Title: Closing Coordinator Years of Experience Required: Minimum 5 years underwriting experience Licences or Registrations Required: Mortgage Agent course to satisfy provincial regulatory requirements, or…
Mortgage Changes From The 2014 Budget
– canadianmortgagetrends.com
The just-released 2014 budget has both good and not-so-good news for mortgage consumers and the industry at large. It contains a variety of new mortgage-related measures, the crux of which…
Consumer debt swells to $1.4 trillion: Equifax
– moneysense.ca
TORONTO – The love affair Canadians have with debt is still going strong, according to a new report by credit monitoring agency Equifax Canada.
Equifax said Monday that its figures show that consumer debt, excluding mortgages, rose to $518.3 billion through the end of November 2013. That was up 4.2 per cent from $497.4 billion a year earlier.
Despite the increase in debt, however, the overall delinquency rate — bills due past 90 days — declined to a record low of 1.12 per cent from 1.19 per cent in the same period of 2012.
“The real pattern that we’ve been observing is that Canadians are taking on more debt, but they can handle it well and are making those monthly payments,” said Regina Malina, director of analytics for Equifax.
Meanwhile, overall consumer debt, including mortgages, also continues to rise — up 9.1 per cent to $1.422 trillion from $1.303 trillion a year earlier.
Malina says the data shows that Canadians are willing to take on more debt — from car loans to credit card purchases — but are more aware of how important it is to keep their debt levels under control…
Equifax said Monday that its figures show that consumer debt, excluding mortgages, rose to $518.3 billion through the end of November 2013. That was up 4.2 per cent from $497.4 billion a year earlier.
Despite the increase in debt, however, the overall delinquency rate — bills due past 90 days — declined to a record low of 1.12 per cent from 1.19 per cent in the same period of 2012.
“The real pattern that we’ve been observing is that Canadians are taking on more debt, but they can handle it well and are making those monthly payments,” said Regina Malina, director of analytics for Equifax.
Meanwhile, overall consumer debt, including mortgages, also continues to rise — up 9.1 per cent to $1.422 trillion from $1.303 trillion a year earlier.
Malina says the data shows that Canadians are willing to take on more debt — from car loans to credit card purchases — but are more aware of how important it is to keep their debt levels under control…
Team Mortgages, Vancity Style
– canadianmortgagetrends.com
Sometimes it takes a team effort to afford a mortgage. That’s especially true in the Vancouvers and Torontos of the world, where you need to be in the top tax…
