Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
New mortgage rules take effect today; more may be coming on Monday, economist says + MORE Dec 15th
Two sweeping mortgage reforms take effect today, December 15, targeting housing affordability and easing financial pressures—changes that may be followed by more announcements this week..... More »
“Should we refinance our mortgage?” Nov 19th
Q. We’re thinking about breaking our existing home mortgage to take advantage of the low interest rates we’re seeing now, and would appreciate some guidance. This is our scenario:
Mortgage principal: $572,000
Weekly payments: $746.00
Interest rate: 3.78% fixed and locked in until December 2023.... More »
Q2 2021 Bank Earnings – Profits Soar as Loss Provisions Plunge + MORE Jun 19th
The Big 6 banks saw profits soar in the second quarter thanks to strong mortgage growth and massive loan-loss provision reductions..... More »
The Latest in Mortgage News: Half of Canada’s Big Housing Markets Are Unaffordable Sep 30th
A new study of 15 major urban centres across Canada shows that housing unaffordability continues to be a major concern in nearly half of those markets. A median-income earner wouldn’t qualify for a mortgage large enough to fund their home purchase in seven key markets, including the Greater Va.... More »
B.C. Rules Create Challenges for Creditor Life Insurance Apr 27th
About a year and a half ago, FICOM made a subtle but impactful rule clarification in B.C. The regulator stated that lenders must “play an active and substantial role” in creditor life insurance in order for mortgage brokers to be able to sell it to B.C. consumers. Basically, this means that th.... More »
The Big Bank Edge
– canadianmortgagetrends.com
Those of us in the mortgage industry know that, at any given time, big banks can undercut virtually any other competitor. It’s not their standard operating procedure (since they prefer…
Happy Holidays!
– canadianmortgagetrends.com
From our CMT family to yours, have a wonderful memorable holiday with family and friends. The mortgage industry remains closed until Friday.
