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

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OSFI’s New Mortgage Rules: Why Homebuyers Should Apply Now + MORE Oct 22nd

Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter set of rules before approval, including a stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines are published in the Residential Mortgage Unde.... More »
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More Canadians Living Single: Ways They Are Actually Saving Money + MORE Oct 13th

More Canadians are living the single life, recent Statistics Canada census data shows. Out of the 14.1 million households recorded in Canada in 2016, about 29 per cent declared themselves to be one-person households (the highest since Confederation in 1867). This is due in part to changes in inco.... More »

What is the “Best” Mortgage Rate? + MORE Sep 19th

Six in 10 mortgage consumers choose brokers, in large part because they think brokers will get them the best rate. All too many of those people associate the “best” rate with the “lowest” rate. Mortgage professionals know that’s not generally true, but convincing clients of this isn’t al.... 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 »
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Is it safe to have $600,000 in savings invested in GICs? + MORE Oct 16th

Q. I live in Manitoba and have about $600,000 invested in GICs at a local credit union. I am 63 years old, retired with a pension, no debt and no mortgage. However, I still worry about this money and it has been hard for me to find an unbiased view on its safety. Can you help? —Glenda W. A. I thi.... 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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