Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
CMHC’s First-Time Home Buyer Incentive Falls Short of Expectations Jun 20th
The Canada Mortgage and Housing Corporation held an official announcement yesterday to release details of its First-Time Home Buyer Incentive (FTHBI). While officials reiterated how this shared-equity program will help young middle-class Canadian buyers, there were scant new details beyond what has .... More »
Lender Insights from the 2018 National Mortgage Conference Nov 3rd
Mortgage professionals from across Canada descended on Montreal last weekend for the annual National Mortgage Conference. Hosted by Mortgage Professionals Canada, the annual gathering was once again well attended, with about 1,200 participants and 60+ exhibitors at the Exhibitor Expo. The two-day ev.... More »
Canadians want to age in place and are turning to reverse mortgages to make that happen May 28th
More than 9 out of 10 Canadians want to be able to live out their retirement years in the comfort of their home, and reverse mortgages are increasingly being used to make that a reality..... More »
Q2 2021 Bank Earnings – Profits Soar as Loss Provisions Plunge + MORE Jun 19th
The Big 6 banks saw profits soar in the second quarter thanks to strong mortgage growth and massive loan-loss provision reductions..... More »
How To Navigate Today’s Economy Oct 17th
Rumour has it the worst is yet to come. On October 26th, Bank of Canada Governor Tiff Macklem will very likely increase rates by another 0.50%. Not only will this push the bank prime rate up to 5.95% – it could lead to the average 5-year fixed rate mortgage well above 6.00%. What a mess. As I .... More »
Broker Lender Market Share – Q3 2017
– canadianmortgagetrends.com
Whaddayaknow? Scotiabank’s #1…again. The broker channel’s most-used lender racked up even more market share in Q3, courtesy (in part) of Finance Canada’s competition-curbing mortgage insurance regime. The top five lenders accounted for a stunning seven out of 10 brokered mortgages on the D+H Expert platform last quarter, the greatest ratio since we started tracking share […]
Higher rates could spell comeback for 5-year mortgages
– moneysense.ca
The Bank of Canada says to expect higher interest rates in 2018, right when nearly one in two mortgages will be up for renewal. THE CANADIAN PRESS/Sean KilpatrickTime to get ready for a return of the popularity of the five-year mortgage? Twenty years ago, in the mid-1990s —conventional wisdom still held where most home buyers and mortgage holders opted for five-year-closed mortgages, as a hedge against the ominous threat of rising interest rates. The security of locking in a constant, predictable mortgage payment for the long term was more valued than hunting for the lowest possible variable rate mortgage.
Times changed, of course, as everyone piled into short rates that floated. Why? Because for the past few decades they have floated down. Super-low-rate variable mortgages became the preferred salve for new homebuyers and helped drive the boom in real estate prices because buyers could afford more house and carry more debt.
But 2018 doesn’t bode well for borrowers and mortgage holders…
RBC says mortgage demand up ahead of new rules, reports record annual net income
– canadianbusiness.com
TORONTO _ Royal Bank of Canada saw an uptick in demand for mortgages this fall as borrowers look to secure loans before tougher rules _ including a stress test _ take effect in the new year, one of the bank’s executives says.
Neil McLaughlin, RBC’s head of personal and commercial banking, told analysts on its fourth-quarter earnings call there is a heightened awareness of the banking regulator’s revised mortgage underwriting guidelines, which is expected to reduce the maximum amount homebuyers who don’t need mortgage insurance will be able to borrow.
“We have seen a little bit of pull forward this fall,” McLaughlin told analysts on the call Wednesday. “As we talk to customers, some of them are surprisingly aware of what the stress test is about and have decided to move more quickly.”
McLaughlin’s comments came as RBC beat analyst expectations with a 12 per cent jump in its fourth-quarter net income to $2.84 billion, driven by double-digit year-over-year increases in personal and commercial banking, wealth management and capital markets…
Neil McLaughlin, RBC’s head of personal and commercial banking, told analysts on its fourth-quarter earnings call there is a heightened awareness of the banking regulator’s revised mortgage underwriting guidelines, which is expected to reduce the maximum amount homebuyers who don’t need mortgage insurance will be able to borrow.
“We have seen a little bit of pull forward this fall,” McLaughlin told analysts on the call Wednesday. “As we talk to customers, some of them are surprisingly aware of what the stress test is about and have decided to move more quickly.”
McLaughlin’s comments came as RBC beat analyst expectations with a 12 per cent jump in its fourth-quarter net income to $2.84 billion, driven by double-digit year-over-year increases in personal and commercial banking, wealth management and capital markets…
Ontario regulator ignored warnings on risky mortgage investments
– theglobeandmail.com
Financial Services Commission of Ontario put savings of thousands of mom-and-pop investors in danger
