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Latest News
Should you get a fixed or variable-rate mortgage? Why the usual advice may no longer apply Mar 17th
After more than a decade of variable rates coming out on top, experts say fixed mortgage rates may have hit bottom and are already starting to climb..... More »
Tax Free Savings Accounts should be 2nd on your list Sep 4th
There are over 10million TFSA accounts in Canada according to this article in the Financial Post. Wow, it’s great to see that level of savings…. But hold on…..is this the right strategy for those of us with a mortgage? Well, if you have a mortgage on your principal reside.... More »
Should You Borrow Money to Make a Down Payment on a New Home? + MORE Mar 26th
Saving for a mortgage down payment can be a long and tedious process. According to the Canadian Real Estate Association, the average price of a Canadian home was $540,000 in February, a 15.2% increase compared to a year earlier. You would need to save $108,000 just to make a standard 20% down payme.... More »
New Year, New Rate Trends + MORE Jan 16th
RateSupermarket.ca’s expert mortgage panel calls for rate rise despite bond dive
There may be uncertain times ahead for mortgage borrowers, as banks and policy makers deviate from economic norms when pricing interest rates. Fixed-rate borrowers have already witnessed a slight pricing increase fro.... More »
Reverse mortgages are booming amid Canada’s turbulent rate environment + MORE Jan 31st
High rates haven't stopped Canadians from tapping their home equity by way of reverse mortgages..... More »
The Depth of Fraud
– canadianmortgagetrends.com
Tamsin McMahon penned a rather alarming story about mortgage fraud on Friday. The number of crooked practices she compiled, regardless of their anecdotal nature, was both impressive and unsettling. You couldn’t blame readers of that story for concluding that Canada’s mortgage market is on shaky ground thanks to widespread fraud. But a pile of anecdotes don’t paint the whole picture. The story cites Canada Guaranty data that “one in 10 mortgage applications…have some element of fraud.” Ten per cent is a sizable number in a country with 5.64 million mortgage households. You’d think all that fraud would translate into an avalanche READ MORE
How mortgage fraud is thriving in Canada's hot housing market
– theglobeandmail.com
Many in the mortgage industry are calling attention to a growing, yet under-reported, problem of mortgage fraud, perpetrated not by criminals looking to scam a bank, but by mortgage industry professionals looking to help their clients buy a home
Overvaluation in 11 housing markets in Canada: CMHC
– moneysense.ca
TORONTO – Canada Mortgage and Housing Corp. says it has detected overvaluation in 11 housing markets, with other concerns flagged in Toronto, Winnipeg, Saskatoon and Regina.
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
Canada’s top cities to buy real estate in »
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments…
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
Canada’s top cities to buy real estate in »
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments…
