What To Expect in 2023 Jan 6th

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Latest News

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 »

Mortgage penalty calculator + MORE Jan 22nd

If you have a closed mortgage and decide to break your mortgage contract before the agreed-upon term has expired, you’ll likely have to pay a prepayment penalty fee. A mortgage penalty calculator can help you figure out exactly how much those fees will be and will make it easier to know whethe.... More »

Bank CEOs weigh in on “vulnerable” mortgage clients + MORE Jan 12th

Canada's Big-Bank CEOs weighed this week in on the current state of their mortgage clients, including those they consider "vulnerable" in the event of a recession..... More »

Inheritance coming your way this year? Planning for it means you won’t waste it Jan 9th

Set life goals, think of the present and future, weigh your contribution to the mortgage, and earn interest all the while, says Lesley-Anne Scorgie..... More »

Reverse mortgages are booming amid Canada’s turbulent rate environment + MORE Jan 31st

High rates haven't stopped Canadians from tapping their home equity by way of reverse mortgages..... More »

What To Expect in 2023

– canadamortgagenews.ca

What To Expect in 2023Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. But if you look at the big picture, you might see that there’s a lot to be optimistic about in 2023 – in the housing market, the economy, and beyond.

Putting Things Into Perspective

Contrary to what the talking heads say, life is good. Excluding the Russia-Ukraine War, we are currently living in the longest peacetime in history. Our standard of living is the highest it’s ever been. Average incomes have doubled in the last 20 years, and unemployment has plummeted to historic lows. In fact, we’re still struggling to fill thousands of vacant jobs. Even with a 4% hike in the bank prime rate, Canadians seem to be taking it all in stride.

Good News From the Housing Market

A good way to measure the financial health of Canadian homeowners is by looking at how many of them are in mortgage arrears…

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