Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Big banks slash mortgage rates this week to reflect lower bond yields in Canada + MORE Jan 12th
Nearly all of the country's big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%)..... More »
How to protect your identity + MORE Sep 7th
We’re all on guard to protect our hard-earned money. What you might not notice, though, is when criminals seek something else that’s really valuable: your identity.
It happens every day. People who would never dream of giving out their credit card number after receiving a random call, t.... More »
5 surprises to avoid when switching mortgages before your term ends + MORE Jul 31st
These days, being a home owner with a mortgage can feel like you’ve ordered the chicken dinner before realizing there was a steak special. You orchestrate a last-minute switch before your meal arrives, and it’s only once your overcooked steak is served that you know you’ve made a mistake.
.... More »
The Latest in Mortgage News – An Eye on Real Estate + MORE Mar 30th
A number of reports this month have provided some insight into the latest movements in Canada’s housing market. New data shows that home sales and prices continue to fall in Toronto and Vancouver, with the exception of Toronto condo sales, which have reached a new high. RBC also came out with .... More »
Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd
It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
Maple Bank Siezed by OSFI and Cut Off by CMHC
– canadianmortgagetrends.com
Maple Bank, a niche securitization player in Canada’s mortgage market, looks like it’s going down. Banking regulator OSFI has taken control of the bank’s Canadian operations according to the Financial Post, which quotes OSFI Superintendent Jeremy Rudin as saying, “We are guided by our mandate, which is to protect the depositors and creditors of the Canadian branch and have taken this step to safeguard their interests.” On top of that, CMHC has terminated Maple as an approved issuer of mortgage-backed securities (MBS). CMHC made this statement: Effective immediately, Canada Mortgage and Housing Corporation (CMHC) has suspended Maple Bank GmbH – Toronto Branch READ MORE
Interest rates remain low because we need more borrowers
– moneysense.ca
According to a new a report by the Fraser Institute, global interest rates are persistently so very low because there’s not enough borrowers in the world.
Michael Walker, chairman of the Fraser Institute Foundation, writes: “Interest rates in the 29 economies that make up 90% of the world’s GDP are low because—and to the extent that—these economies are experiencing a dearth of borrowers and hence a relatively high saver-to-borrower ratio.”
Walker states that in order for central banks to continue to use interest rates as an effective monetary policy tool, the balance between supply and demand—saver and borrower—needs to be maintained. “The fact is that every saver who wants to earn a return needs a debtor as an accomplice,” states Walker in his report, released early this morning. “Because of the anonymity of financial institutions, the connection [between saver and debtor] is not appreciated and indeed most people taking a loan or a mortgage think they are getting it from the bank or credit union…
Michael Walker, chairman of the Fraser Institute Foundation, writes: “Interest rates in the 29 economies that make up 90% of the world’s GDP are low because—and to the extent that—these economies are experiencing a dearth of borrowers and hence a relatively high saver-to-borrower ratio.”
Walker states that in order for central banks to continue to use interest rates as an effective monetary policy tool, the balance between supply and demand—saver and borrower—needs to be maintained. “The fact is that every saver who wants to earn a return needs a debtor as an accomplice,” states Walker in his report, released early this morning. “Because of the anonymity of financial institutions, the connection [between saver and debtor] is not appreciated and indeed most people taking a loan or a mortgage think they are getting it from the bank or credit union…
Starting Monday, you’ll need more cash to insure a mortgage on many homes in Canada. The new rule may be ‘good politics,’ but it won’t do much to bring housing prices in overheated markets back down to Earth.
First National
– canadianmortgagetrends.com
Company: First National Position: Residential Mortgage Underwriters Location: Toronto, ON Apply to: Click here Residential Mortgage Underwriters We are hiring Residential Mortgage Underwriters at First National Financial LP! Closing Date: Open Hours of Work: 8:30 a.m. – 5:00 p.m. Office Location: Toronto, ON office Salary: Highly competitive compensation package which Includes, base salary, bonus and benefits. Overview: Our Residential Mortgage Underwriters are responsible for rendering credit decisions on incoming applications within their authorized limits and with adherence to company and insurer policies and guidelines while focusing on service excellence. The Underwriter has responsibility for applying due diligence when READ MORE
Manulife Bank
– canadianmortgagetrends.com
Company: Manulife Bank Position: Lending/Alternative Mortgage Solutions (AMS) Specialist Location: Waterloo, ON Apply to: Click here Lending/Alternative Mortgage Solutions (AMS) Specialist Reporting to the Director of Inside Sales, the Inside Lending/AMS Specialist (ILS) is responsible for selling Manulife Bank and Alternative Mortgage Solutions directly to end clients in active collaboration with the Retail Lending Specialists across the country. The ILS works directly with end clients to determine the applicability of the Bank’s full range of products and services including our Alternative Mortgage Solutions. The ILS ensures business is submitted to the appropriate servicing unit within the Bank, or our 3rd READ MORE
