Learn more about Canadian mortgage rates, rules and the latest news – read on!
Mortgage rule changes and increasing interest rates—surprisingly—weren’t the top motivators for prospective homebuyers in 2017, according to a new survey from the Canada Mortgage and Housing Corporation (CMHC). Instead, the 2018 Prospective Home Buyers Survey found that improved accessibil.... More »
For mortgage brokers looking to automate the tedious process of down payment verification, Lendesk’s release of Level in early December was something of an early Christmas gift. It is touted as the only product on the Canadian market that automates the collection of client bank statements on t.... More »
I’m often asked why I started this site. It’s simple: I was tired of reading misinformation and twisted truths about mortgage brokering in Canada. Back in 2009 when I created the site, there were some new blogs reporting on mortgage trends and offering ‘expert’ advice. (I use the term ‘e.... More »
Q: My daughter and her husband did not earn enough, so my wife and I decided that we would help them by putting her name on the mortgage for the purchase of a new-build condo in Hamilton, Ontario. We opted to go with RBC and the mortgage was approved at a rate of 2.65%. In order to get the mortgage.... More »
TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance. As a result, alternativ.... More »
The trend of consolidation in Canada’s mortgage industry continues. Tango Financial is the latest mega-brokerage. The company is an amalgamation of Paragon Mortgage Inc., Premiere Mortgage Centre and Compass Mortgage Group, which announced a merger agreement last week. The three firms will remain autonomous under the umbrella of Tango, with Don MacVicar of Premiere Mortgage […]