Q3 2017 Bank Earnings – Mortgage Morsels + MORE Sep 16th

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Credit Scores Improving, Says CMHC + MORE Sep 28th

New data from CMHC shows average credit scores of mortgage holders across the country are continuing to rise. A full 80.7% of mortgages in Canada are held by borrowers with a “very good” (700-749) or “excellent” (750+) credit score, CMHC says. That’s up from 78.2% in 2012. Meanwhile, t.... More »

Review your mortgage NOW! Next year may be too late. Oct 31st

It’s begun.  The message is starting to sink in.  The new mortgage rules could eliminate 15% of Canadians from qualifying for a mortgage after January 1st, 2018.  The mad rush has started as mortgage inquiries are up significantly. WHO WILL BE AFFECTED? Anyone that has a mortgage renewal in.... More »

The Latest in Mortgage News – 2018 Forecasts Dec 27th

It can be a chore to stay on top of the latest mortgage news these days, particularly given the barrage of forecasts and predictions for housing markets in 2018. Unsurprisingly, the majority of forecasts for the year ahead have focused on OSFI’s new mortgage rules, including the mortgage stres.... More »

CMHC looks to Airbnb in bid to boost withering supply of affordable rental units + MORE Oct 4th

OTTAWA _ Canada’s housing agency is looking to an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb. The head of the Canada Mortgage and Housing Corp., says he believes short-term rental companies like Airbnb and Vacation Rental By Owner (VRBO) could help increase .... More »

Growing Trend: Buying Real Estate with Family and Friends + MORE Oct 25th

While it’s fairly common for those in tight rental markets to have a roommate to help split the rent, an emerging trend is buying real estate with a family member or friend. Faced with high home prices in big cities and tougher mortgage rules, including a new stress test on uninsured mortgages, it.... More »
Household debt climbs to 167.8 per cent, says StatsCan(Shutterstock)
OTTAWA – Statistics Canada says the amount Canadians owe compared with their disposable income climbed higher in the second quarter.
The agency says household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.
That means for every dollar of household disposable income there was $1.68 in credit market debt.
The increase came as household income increased 1.2 per cent while household credit market debt rose 1.9 per cent.
Total household credit market debt, which includes consumer credit, mortgage and non-mortgage loans, totalled nearly $2.08 trillion in the second quarter.
Mortgage debt increased 1.6 per cent to $1.36 trillion, while consumer credit grew 2.4 per cent to $609.6 billion.
The post Household debt climbs to 167.8 per cent, says StatsCan appeared first on Macleans.ca.

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Housing Market Digests: August 2017

– canadianmortgagetrends.com

Will Dunning, Chief Economist for Mortgage Professionals Canada, has released his Housing Market Digests for August 2017, both for Canada and the Greater Toronto Area. Each report summarizes key trends in the housing market and the economy. CANADA GREATER TORONTO AREA   * NOTE: Buttons will download/open PDF files.

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Q3 2017 Bank Earnings – Mortgage Morsels

– canadianmortgagetrends.com

Canada’s Big 6 banks wrapped up another earnings season with another $10.69 billion in total net profit. Earnings were fuelled by strong mortgage growth for at least several banks, notably CIBC, which saw its mortgage volume shoot up 13% from last year, and RBC, with mortgage balances up 6%. During the shareholder conference calls executives […]

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