Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
What the Bank of Canada Rate Increase to 1.5% Means for Canadian Home Owners and Home Buyers + MORE Jul 17th
From personal loans to mortgages, simply put, it’s now more expensive and more difficult for Canadians to borrow money.
At the beginning of 2018, new mortgage rules raised the bar for qualification. Under federal law, all financial institutions are now required to put any new applicants under a.... More »
Should retirees consider a home equity sharing agreement (HESA)? + MORE Jan 30th
Toronto-based Clay Financial recently began accepting applications for a new home equity product called a home equity sharing agreement, or HESA—not to be confused with the HISA, which stands for high-interest savings account.
Clay raised seed funding in 2023 and is initially launching the prod.... More »
Mortgage insurers clarify qualification rules for VRM applications amid rising rates Jul 22nd
The Bank of Canada's historic 100-bps rate hike last week has led to confusion over how the stress test should be applied to variable rate mortgage applications already in lender pipelines..... More »
Laurentian Bank’s review of problematic mortgages to finish in Q2 + MORE Mar 1st
MONTREAL _ Laurentian Bank expects to complete its review of problematic loans sold to an unnamed lender by the fiscal second quarter, and will fix or repurchase any remaining mortgages that failed to meet the proper criteria.
The Montreal-based lender _ which said late last year it discovered mortg.... More »
One family’s strategy for getting out of debt + MORE Feb 7th
(Illustration by Ryan Inzara, iStock)
At first glance, it’s difficult to see why Francesca Nazario is so worried about money. She and her husband Guy, both 36, own a three-bedroom bungalow in Whitby, Ont., an hour’s drive from Toronto. They have two young kids—Amelia, 3, and Sam, 15 months—a.... More »
Are You Retirement-Ready?
– ratesupermarket.ca
RRSP season is upon us, and banks are laying on the pressure to save – are you putting enough cash away? Many Canadians, especially young adults, aren’t entirely clear on how they should be saving for retirement – and we spoke to a few of them to see how they really feel (check out our video below)!
Meanwhile, rising bank fees add insult to injury for consumers cash-strapped from a lower loonie. Read on for our full coverage.
VIDEO: RRSP-ECT – Find Out What It Means to Me
We’ve all seen the scary headlines: Canadians, especially Millennials, aren’t saving enough for their golden years. But there’s a lot of confusion around saving effectively – how much do you need to sock away? Should you use an RRSP?
We took to the streets to see how Canadians really feel about their retirement chances. Check out our video!
Read Penelope’s Blog | RRSP-ECT – Find Out What It Means To Me
INFOGRAPHIC: Canadian Mortgage Snapshot
Did you know – there are 5.71 million mortgages in Canada, and $3 trillion in home equity nation-wide? That’s a lot of lending – and 2015 was no exception, with 660,000 new home purchases…
Pigeonholing “Shadow Banks”
– canadianmortgagetrends.com
“Shadow banking” is one of the most misapplied terms in financial services today. Apart from a few private lenders and small MICs, which comprise just 2-4% of Canada’s mortgage market1, no Canadian lender is operating in the shadows. There is a problem with the definition of shadow banking and it creates real difficulties for Canada’s non-bank lenders. The Bank of Canada refers to shadow banking as: “…Credit intermediation that takes place at least partly outside the traditional banking system.” The BoC lumps government-insured mortgage securitization into that mix, which is somewhat preposterous given that the Department of Finance, the banking READ MORE
Home builders need to further scale back construction to cool overheated markets in Ottawa and other centres, says Canada Mortgage and Housing Corp. A quarterly market assessment released by the federal government’s housing watchdog Wednesday said rising vacancy rates and high inventories of new and unsold units are causing problems in Calgary, Saskatoon, Regina and […]
