Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
BREAKING: Ontario Car Insurance Rates Have Increased Oct 16th
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.06 per cent on average..... More »
Should you loan money to someone who is house rich and cash poor? May 19th
My daughter is 60, divorced, owns a house, perhaps $800,000 house value. She has a small mortgage and no savings of any kind. She lives on a line of credit and a credit card. Her only income is about $300 to $400 monthly CPP.
She is wondering how best to manage. Should she sell now and rent for a.... More »
Real estate market to slow in 2016, RBC says + MORE Aug 21st
TORONTO – Activity in Canada’s real estate market will slow “modestly” next year as interest rates begin to rise, according to a new report from RBC Economics.
The report pegs the risk of an outright crash in real estate as low, saying RBC expects the economy to grow and that interest rates .... More »
Investors Who Made Cash Off U.S. Housing Collapse Now Betting Against Canada: Reports + MORE Jun 24th
Crash could come in autumn, when U.S. expected to raise rates
Vancouver expected to be epicentre
Similar bets against Canada made in 2013, no collapse followed
When it comes to Canada’s housing markets, there’s a big difference between how Canadians perceive things and how the rest of t.... More »
Reverse Mortgages growing in popularity… Product of the year 2018? + MORE Feb 23rd
Mortgage stress test is the buzz phrase in mortgage lending for 2018. Every borrower, regardless of how much down payment you’re making, must pass a stress test to qualify for a mortgage. The math is simple, yet intimidating. Lenders must now use your mortgage contract rate PLUS 2.00% to qual.... More »
First National Financial LP
– canadianmortgagetrends.com
Company: First National Financial Position: Residential Mortgage Underwriters Location: Toronto, ON Residential Mortgage Underwriters We are hiring Residential Mortgage Underwriters at First National Financial LP! Closing Date: Open Hours of Work: 8:30 a.m. – 5:00 p.m. Office Location: Toronto, ON office Salary: Highly competitive compensation package which Includes, base salary, bonus and benefits. Overview: Our Residential Mortgage Underwriters are responsible for rendering credit decisions on incoming applications within their authorized limits and with adherence to company and insurer policies and guidelines while focusing on service excellence. The Underwriter has responsibility for applying due diligence when reviewing required READ MORE
Radius Financial
– canadianmortgagetrends.com
Company: Radius Financial Position: Regional Vice President, Ontario West Location: Southwest Region Regional Vice President, Ontario West Radius Financial, a growing Canadian mortgage company is seeking a skilled sales person to further build & develop the broker network in the Southwest Ontario region. The successful candidate will bring previous lending and strong sales experience within the residential mortgage lending/brokerage industry. Job Description Establish, maintain & manage key business relationships with mortgage brokerage firms, brokers & agents Use sales & service principals, practices & techniques to generate residential mortgage business Plan and implement effective business & marketing plans and sales & communication READ MORE
Street Capital Axes its Trailer Model
– canadianmortgagetrends.com
A trailer fee is a commission that a lender pays to a mortgage broker when his or her client renews with that lender. It’s basically an incentive for brokers to keep their clients with the lender after the mortgage matures. But trailers haven’t worked out as hoped for Street Capital, the broker channel’s third-largest lender brand by market share. Four years after launching its “Loyalty Program” with trailer fees, the company says “…We have not seen any material impact (of trailers) on either mid-term liquidation or retention.” As a result, it is doing away with trailer fees on new applications, effective July 1, 2015. As READ MORE
How Healthy is Your Province’s Housing Market?
– ratesupermarket.ca
At the end of May, the Canada Mortgage and Housing Corporation (CMHC) released its second quarter Housing Market Outlook for 2015.
Overall, the federal agency expects that the Canadian housing market will remain stable, with the national average price of a home ranging between roughly $400,000 and $440,000. For 2016, CMHC says that with the drop in oil prices, “our assessment is that there is more downside risk than upside risk to our forecast.” Nationally, housing starts (the number of new units constructed) are also expected to taper off this year and next.
But the picture isn’t a uniform one across the country. “Lower oil prices are contributing to disparities between provincial housing markets,” said the CMHC’s chief economist, Bob Dugan, in a press release. “Moreover, since the inventory of completed and unabsorbed units remains above the historical average, we expect the pace of new home construction to moderate over the next couple of years as builders focus on managing the existing inventory…
Radius Financial
– canadianmortgagetrends.com
Company: Radius Financial Position: Regional Vice President, Ontario Central Location: GTA Regional Vice President, Ontario Central Radius Financial, a growing Canadian mortgage company is seeking a skilled sales person to further build & develop the broker network in the Ontario Central region. The successful candidate will bring previous lending and strong sales experience within the residential mortgage lending/brokerage industry. Job Description Establish, maintain & manage key business relationships with mortgage brokerage firms, brokers & agents Use sales & service principals, practices & techniques to generate residential mortgage business Plan and implement effective business & marketing plans and sales & communication strategies READ MORE
