Interested in learning more about property mortgages in Canada? Look no further!
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic. The new rules will lower the amount of debt an applicant for an insured mortgage can carry, set a hig.... More »
For the second-quarter earnings season, all eyes were on the Big 6 banks’ credit loss provisions and mortgage payment deferral programs. With the onslaught of COVID-19, the banks granted payment deferrals to more than 700,000 Canadians to help prevent a wave of defaults. In their second-quarte.... More »
In our previous post, we spoke about the fact that there are so many credit score providers out there, all providing different results, and chances are none of those results are the credit score lenders see when you apply for a loan product such as a mortgage, credit card or car loan. How are you su.... More »
While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers. Concerns over a second wave of COVID-19 have caused Canada’s 5-year bond yield t.... More »
Latest in Mortgage News: Newton to Provide Free TransUnion Access to its 6,000+ Velocity Users + MORE Jun 28th
Starting today, the more than 6,000 mortgage brokers who use the Velocity mortgage operating system will gain free access to TransUnion credit reports for the remainder of the year. The offer is part of a campaign by Newton Connectivity Systems, which operates Velocity, to encourage greater diversif.... More »
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 transactions, forcing mortgage brokers to stay nimble in the face of new challenges and constant change. To ensure business continuity, mortgage brokers have adapted to the new virtual-first environment, which has revealed an urgent need and opportunity for […]