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Latest News
Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes + MORE Apr 12th
Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain home buyers, but say expanding the policy to all Canadians would help make home ownership more affordable.
Speaking in Toronto on Thursday, Finance Minister Chrystia Freeland announced.... More »
Ask the Expert: Steve Garganis – What’s your Canadian mortgage strategy in Trump’s tariff war? + MORE Apr 15th
Make no mistake, we are in a war — an economic war. President Donald Trump has threatened, imposed, or temporarily reversed tariffs on just about every country in the world, including Canada.
Canada will now see a 25% tariff on aluminum, steel, Canadian automobiles and non-CUSMA-compliant .... More »
Mortgage Digest: Bond yield spike drives latest fixed mortgage rate hikes of up to 30 bps + MORE Mar 22nd
Markets are rapidly repricing inflation and rate expectations, driving bond yields higher and triggering a new round of fixed mortgage increases.... More »
Bloom unveils new home equity prepaid Mastercard as novel way for seniors to fund retirement + MORE Mar 16th
A first-of-its-kind product by Toronto-based Bloom Financial is offering an innovative solution for seniors struggling to fund their retirement in the face of rising costs..... More »
CMHC reports annual rate of housing starts in June down six per cent from May + MORE Jul 17th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in June fell six per cent compared with May..... More »
One quarter of TD mortgages now have an amortization of 35+ years
– canadianmortgagetrends.com
Over a quarter of TD Bank’s residential mortgage portfolio now has an effective amortization of 35 years or longer.
BMO: No issues with mortgage renewals at this time
– canadianmortgagetrends.com
The Bank of Montreal (BMO) is the latest of Canada’s big banks to confirm most of its mortgage clients haven’t yet experienced challenges with their renewals. The comments came as part of the bank’s fourth-quarter earnings results, in which it reported a 12% increase in residential mortgage volumes. Chief Risk Officer Piyush Agrawal said the bank’s delinquency rates remain low at this time, and that just 12% of its portfolio will come up for renewal in the next 12 months. […]
CIBC mortgage amortizations soar given its heavy weighting of variable-rate mortgages
– canadianmortgagetrends.com
With a third of its mortgage portfolio having variable rates, CIBC saw its amortizations soar as of the fourth quarter.
