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.
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Technology’s Role in Canada’s Evolving Mortgage Industry May 29th
COVID-19 has dramatically changed the course of many industries and threatened the physical, mental and financial wellness of millions of Canadians. In the housing sector, real estate sales volumes have dropped significantly and rapid increases in unemployment have added uncertainty to many transact.... More »
What to do with a rental property when you owe more than it’s worth + MORE Apr 22nd
Q. I bought a home in Fort McMurray, Alta., for $413,000 in 2007. Five years later, in 2012, I moved out and started renting the property, and it has remained an income property since then.
With the decline in oil prices, the town of Fort McMurray has seen real estate losing value like crazy. After .... More »
The best 5-year fixed mortgage rates in Canada Mar 22nd
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
Fewer banking fees, help for mortgage holders—here’s what new rules could mean for Canadians + MORE Oct 29th
On October 17, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced new affordability measures related to mortgages and banking, prepared in consultation with the Financial Consumer Agency of Canada (FCAC), a consumer watchdog organization that focuses on financial services..... More »
Mortgage reforms alone won’t solve housing crisis, says Mortgage Professionals Canada CEO + MORE Oct 25th
Recent mortgage reforms introduced by the federal government, while a step in the right direction, aren’t enough to fully address Canada’s growing housing affordability crisis, according to Lauren van den Berg, CEO of Mortgage Professionals Canada..... 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
