Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How to protect your investments if the inflation genie sparks interest rate hikes Jan 19th
Now is a good time to prepare your finances for rising interest rates as they affect everything from the makeup of your portfolio to your mortgage.... More »
High rent, mortgage rates keeping upward pressure on inflation Jan 19th
Canada’s inflation rate continued to ease in December, despite upward pressure from rising rents and mortgage interest costs. The Consumer Price Index eased to an annual growth rate of 6.3% last month, thanks largely to a decline in gas prices. That’s down from 6.8% in November and what .... More »
5 surprises to avoid when switching mortgages before your term ends + MORE Jul 31st
These days, being a home owner with a mortgage can feel like you’ve ordered the chicken dinner before realizing there was a steak special. You orchestrate a last-minute switch before your meal arrives, and it’s only once your overcooked steak is served that you know you’ve made a mistake.
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Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say + MORE Oct 4th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Latest in Mortgage News: Canadians Say Low Interest Rates to Blame for High Home Prices Sep 5th
More than three-quarters of Canadians (77%) believe home prices in suburban and rural areas have risen to unsustainable levels, and most feel that ultra-low interest rates are to blame. A full 8 out of 10 people say low borrowing costs are to blame for the recent run-up in home prices, according to .... More »
Summary of Housing Promises from Canada’s Main Political Parties
– canadianmortgagetrends.com
Canada’s main political parties have been unveiling housing promises over the past couple of weeks, each outlining how they plan to tackle the predominant housing issue of affordability. The policies include everything from tweaks to the mortgage stress test and crack-downs on foreign purchases to increasing housing supply and several brand new homeowner assistance programs. We’ve gone through the platforms from the top five represented parties and have compiled the key initiatives and some of their implications. Liberals The Liberals’ […]
Canadians Are Paying Down Their Non-Mortgage Debt
– canadamortgagenews.ca
In so many ways, the pandemic has been devastating for Canadians. Between layoffs, supply-chain shortages, and healthcare challenges, the last year and a half has tested us in ways we never could have imagined a decade ago. And yet, in the midst of adversity, some silver lining has come to light: Canadians have actually been very smart with their money.
We know that Canadians have never had more disposable income. Lockdowns physically limited our ability to shop and dine out while CERB payments padded our pockets for months. But people weren’t running out and buying Teslas. In fact, they were using their excess cash to pay down expensive debt.
This happened almost immediately. Less than two months into the first lockdown, May 2020 saw the first decline in non-mortgage debt in decades. By January 2021, non-mortgage debt had plummeted by more than $20 billion, including a whopping decline of $16.6 billion in credit card debt. Now able to pay down their Visa bills, Canadians were able to incur more practical debt: mortgage debt…
Record Mortgage Growth and Higher HELOC Usage in Q2
– canadianmortgagetrends.com
Driven by a strong housing market and low interest rates, mortgages saw record growth across the country in the second quarter. Nationwide, volume was up 60.2% compared to the same period in 2020, but was exceptionally strong in British Columbia where mortgage volume was up 85.7%, according to new data from Equifax Canada. “Apart from a strong housing market, seasonality and refinancing also played a big role in the new mortgage growth this quarter,” the report noted. Mortgage balances also […]
