Siddall Launches Latest Volley in War of Words with the Mortgage Industry Jun 14th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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Department of Finance Announces New Qualifying Rate for Insured Stress Test Feb 19th

The federal government announced on Tuesday it will be changing the benchmark qualifying rate used for Canada’s insured mortgage stress test. The change, which will take effect April 6, 2020, means borrowers with insured mortgages (typically those with less than 20% equity) will need to prove they.... More »
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Mortgage Lenders Provide COVID-19 Update – Part 1 + MORE Apr 7th

In a recent panel discussion series hosted by Mortgage Professionals Canada, a cross-section of some of the country’s top lenders provided updates on how COVID-19 has impacted their operations and shaped their outlook. The overwhelming message was one of positivity and resilience. Within a mat.... More »

2020 Mortgage Forecasts: Defaults to Jump, Originations to Tumble, Sales to “Suffer” + MORE May 8th

There’s no doubt that Canada’s mortgage and real estate industries will suffer in the short term due to the impacts of the coronavirus pandemic. But how long will the pain last and how far out might the recovery be? Those are questions being asked by many in the industry, and some have p.... More »

Beware of mortgage fraudsters…. Sep 27th

I wrote that back in 2006.  Since then we have seen some provincial governments step in with laws to help protect unsuspecting homeowners.  You can also purchase Title insurance or an alternative method of protection. A couple of years ago, Toronto police said a woman used fake ID to get a $300,0.... More »

Combatting Mortgage Fraud: Scrap The Status Quo + MORE Oct 6th

Canada’s conservative nature means that we have a tendency to abide by the status quo, remaining committed to tradition and the processes that have historically worked in our favour. Fortunately this approach has, in many ways, proven valuable, cushioning us from the damaging effects of variou.... More »
For anyone who has been following the saga, it should be plainly obvious where Evan Siddall, head of the CMHC, stands on the mortgage stress test. In a recent editorial, we took an in-depth look at Siddall’s at-times passionate defence of stricter mortgage qualification rules. Part of that included public comments in which he accused […]

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