Not just new buyers: Mortgage stress test rules putting the squeeze on renewals, too + MORE May 15th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Q2 2018 Bank Earnings – Mortgage Morsels Jun 8th

The majority of Canada’s Big Six banks beat expectations for second-quarter earnings, despite slowing real estate activity and tighter lending rules for uninsured mortgages. Both RBC and Scotiabank posted 6% year-over-year increases in their residential mortgage portfolios, although the other .... More »

Bank of Canada raises benchmark interest rate to 1.5%, noting trade tensions - CBC.ca + MORE Jul 11th

CBC.caBank of Canada raises benchmark interest rate to 1.5%, noting trade tensionsCBC.caFor the fourth time in a little over a year, the Bank of Canada has raised its benchmark interest rate, a move that will increase the cost of borrowing for Canadians with variable-rate mortgages and lines of cred.... More »
 home loans

Six Months was What it Took to Absorb Latest Mortgage Changes! Aug 19th

Ever since the US 2008 sub-prime mortgage crisis, we’ve seen a never-ending string of change. Mortgage lending rules have become tougher and tighter. Underwriting is stricter and more thorough. (As usual, the government has not missed an opportunity to stick their nose into your business by m.... More »
 line of credit

The Latest in Mortgage News – Home Prices and Rate Hikes + MORE Oct 4th

Interest rates, and more specifically the growing certainty of higher rates to come, have been dominating headlines following the announcement of a new trade agreement between Canada, the U.S. and Mexico. With the expectation of rising interest rates, many eyes are also on the developments in the re.... More »

Lessons From the 2018 Digital Mortgage Conference – Part I + MORE Sep 21st

“If you don’t view yourself as a technology company that does mortgages, you’re missing it.”—Bill Emerson, Vice Chairman, Quicken Loans   That quote encapsulated this week’s third annual Digital Mortgage Conference in Las Vegas. To compete in the next decade, brokers and lenders wil.... More »
TD Survey Finds First Time Home-Buying Anxieties; Tips on How to Overcome Them
As many already know, purchasing real estate isn’t as simple as purchasing milk from the corner store. Naturally, buying any home – let alone your first home – is a process that involves a substantial amount of decisions, paperwork, and money.
The results of a recent survey conducted by TD found that 56 per cent of its 1,001 respondents aged 18 to 69 have reservations when it comes to purchasing their first home. According to the survey, respondents cited their biggest concern as the fear of missing an important aspect that is necessary in the home-buying process. Over 70 per cent are concerned they will endure expenses they do not foresee, while 24 per cent find it outright stressful, and 21 per cent view buying real estate as understandably overwhelming.
But there are some ways to help offset these worries. You can make your real estate investment much more manageable by ensuring you owe little-to-no money elsewhere, understanding all of the expenses – big and small – that you may incur during the process, and, finally, selecting the right mortgage loan on your property to make payments as easy as possible…

Continue Reading On ratesupermarket.ca »

It’s not just new homeowners who are feeling the impact of higher interest rates and tougher lending standards: even those who’ve already bought are feeling the heat.

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