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
Mortgage rates under 5%? They’re coming back as lenders slash fixed rates + MORE Dec 7th
For the first time since last spring, mortgage shoppers finally have a condition-free sub-5% fixed mortgage rate option..... More »
Long-term mortgage rates are falling. Is it time to lock in? + MORE Apr 4th
Locking in or not depends on many factors, experts say, including whether the penalties for breaking a current mortgage make sense and if you think rates are going up or down..... More »
The Latest in Mortgage News: Canadians Divided Over Home Price Expectations Jan 4th
Following a record year of home price increases, Canadians remain divided over where they expect (and hope) prices will go from here..... 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 »
Fixed-rate borrowers face up to 20% payment hikes at renewal, BoC warns Jul 23rd
Bank of Canada data shows fixed-rate borrowers face the steepest payment hikes this year and next, but not all mortgage holders are in the same boat.... More »
Should CMHC Insurance Premiums Be Lower For First-Time Buyers?
– ratesupermarket.ca
Buying a home today is more expensive than ever. In economic hubs like Vancouver and Toronto, prices continue to climb into the stratosphere. You can expect to spend on average a whopping 87 per cent of your median household income on housing in Vancouver, while you’ll spend 62 per cent in Toronto. It’s no wonder first-time homebuyers are struggling to get started in the housing market!
No Such Thing As A Starter Home?
The housing market is quickly getting out of reach for our youngest adult generation. With bleak job prospects and an average of $26,000 of student debt, it can be tough to save even the minimum five per cent down payment. Brian Bell, a real estate broker and former mortgage default insurance executive, believes first-time homebuyers need a break. He has started a petition urging CMHC to lower its insurance premiums by 15 per cent for first-time homebuyers.
The Affordability Struggle
In Toronto the average selling price of homes reached a staggering $539,058 in October 2013…
VERICO BrokerBase: Simplicity is Underrated
– canadianmortgagetrends.com
Consider these stats on mortgage customer follow-up: Over 90% of consumers want to hear from their mortgage professional after closing (Source: Maritz Research survey) The optimal contact frequency, say consumers,…
One-on-One With Invis-MI's Cam Strong
– canadianmortgagetrends.com
Every now and then we get a chance to delve into a brokerage firm’s model and see how it ticks. The inner workings of Invis-Mortgage Intelligence are of particular interest,…
