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

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Insights from the 2017 National Mortgage Conference + MORE Dec 3rd

Another national mortgage conference has come and gone, but many will remember this year’s instalment as nothing short of a success. More than 1,200 mortgage professionals from across the country descended upon Niagara Falls for Mortgage Professionals Canada’s annual National Mortgage Conference.... More »

Be Aware of Mortgage Penalties + MORE Nov 9th

Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap .... More »
 Canada mortgage

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 »
 property mortgage

Last call for mortgage approvals under the current rules….and an in-depth look at how these new rules will impact YOU in 2018. + MORE Dec 24th

 TIME IS ALMOST UP.. With just days to go before the new mortgage rules take effect on January 1st, we are seeing a flurry of mortgage applications.   Panic buying and … Continue Reading Last call for mortgage approvals under the current rules….and an in-depth look at how these new ru.... More »

Stress Test Causing National Housing Slump: CREA May 21st

The Canadian Real Estate Association (CREA) blames the mortgage stress test introduced in January for slow activity across the nation in April. The housing market has cooled in all respects from April of last year, when the market peaked: the average sale price declined by 11.3 per cent to $495,000,.... 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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