Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Mortgage payments are easing overall, but many face renewal stress, TD says + MORE Jul 11th
High-rate renewals are squeezing budgets, but rate cuts and short-term mortgage resets are easing the burden in aggregate, TD Economics says.... More »
Lender Calls – Q3 Roundup + MORE Dec 21st
Canada’s biggest non-bank lenders have all reported third-quarter earnings. In their earnings calls they outlined how they’re coping with Ottawa’s recent changes to the mortgage qualification and insurance rules. Per usual, we’ve combed through their transcripts in order to se.... More »
I missed a mortgage payment. What happens now? + MORE Sep 20th
If you skip one month’s mortgage payment, then resume scheduled payments for six months, all six of those payments may be considered late..... More »
Trump fires Federal Reserve Governor Lisa Cook - The Globe and Mail Aug 26th
Trump fires Federal Reserve Governor Lisa Cook The Globe and MailWhat Trump’s firing of Fed governor means for central bank’s independence The GuardianTrump seeks to fire Fed governor, triggering fresh independence crisis Sky NewsTrump has accused Fed Governor Li.... More »
Toronto housing bubble: Is it ready to pop? + MORE Nov 25th
The Toronto real estate market has experienced remarkable growth over the past two decades. The average home price in Toronto surged by a staggering 489% from 2000 to 2022, according to the Toronto Real Estate Board (TRREB). This rapid price growth has raised concerns about the future of affordable .... More »
Toronto real estate soars to new heights
– moneysense.ca
TORONTO – The Toronto area’s real estate market set a record last month, with nearly 13,000 homes sold, despite sky-high prices and new federal mortgage rules targeted at Canada’s most expensive housing markets.
The Toronto Real Estate Board said Friday the number of sales last month was up 10.6 per cent from May 2015 and prices were up about 15 per cent. That came one day after its counterpart in Vancouver also reported record-breaking sales for the month.
Housing bubble? Depends if you read the numbers or the market »
For a detached house in the city of Toronto, the average price last month was $1.28 million, while the average price for all homes was $782,051, TREB said.
TREB president Mark McLean said a shortage of homes for sale helped drive the rise in prices.
Finance Minister Bill Morneau has increased the minimum down payment for homes over $500,000, a measure aimed specifically at Toronto and Vancouver.
As of February, homebuyers were required to put down 10 per cent on the portion of a home over $500,000…
The Toronto Real Estate Board said Friday the number of sales last month was up 10.6 per cent from May 2015 and prices were up about 15 per cent. That came one day after its counterpart in Vancouver also reported record-breaking sales for the month.
Housing bubble? Depends if you read the numbers or the market »
For a detached house in the city of Toronto, the average price last month was $1.28 million, while the average price for all homes was $782,051, TREB said.
TREB president Mark McLean said a shortage of homes for sale helped drive the rise in prices.
Finance Minister Bill Morneau has increased the minimum down payment for homes over $500,000, a measure aimed specifically at Toronto and Vancouver.
As of February, homebuyers were required to put down 10 per cent on the portion of a home over $500,000…
Mortgage Career: Heritage Lending Group
– canadianmortgagetrends.com
Company: Heritage Lending Group Position: Mortgage Agent – Referral Programs Location: National Apply to: careers@heritagelending.com Mortgage Agent – Referral Programs Years of Experience Required: 1 year but not required Licenses or registrations required: Provincial Mortgage Licence City of Job: Canada-Wide Job Description Heritage Lending Group has a unique opportunity for forward thinking mortgage brokers. We have established professional referral partners across Canada. Our proven business model provides you with warm, qualified mortgage referrals from these partnerships. We are offering a competitive commission structure to help these clients find the perfect product to meet their needs, all while you continue READ MORE
Mortgage Marketing: Starting on a Shoestring Budget
– canadianmortgagetrends.com
By Jackson Middleton, Special to CMT If you’re just getting started as a mortgage broker, I hope I’m not the first to tell you that this is one tough business. Success doesn’t come easy and it’s a long way to the rainbow’s pot of gold. Successful brokers are very well compensated, but they get successful only after years of hard work. While the potential income is considerable, if you lack the conviction to invest endless hours into growing your business, you might as well quit now. Marketing is one area where time (not necessarily money) is mandatory. Most new agents don’t come into the business with loads of READ MORE
