Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
I need to lower my monthly mortgage payments. Is extending my amortization period a good idea? Nov 16th
An extra five years might not seem like much, but the difference can be startling, says one expert..... More »
How mortgage brokers can unlock the power of personal video messages + MORE Apr 1st
It's important to find ways to connect with potential clients and build trust. By recording a video that is tailored to an individual prospect, you can set yourself apart from others and create a memorable experience..... More »
Why January is peak season for second mortgages in Canada Dec 18th
For many mortgage brokers, January is the busiest month of the year..... More »
CMHC reports annual pace of housing starts dropped 17% in October Nov 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell 17% compared with September..... More »
Clock ticking for Ontario mortgage brokers to complete required training + MORE Feb 13th
More than 17,000 agents and brokers must log mandatory training hours — including a new professional development requirement — with FSRA by March 31 to renew their licences..... More »
Why didn’t the Bank of Canada Gov cut rates last week?
– canadamortgagenews.ca
WAS THIS A BIG MISTAKE?
Last week, Stephen Poloz, the Bank of Canada Governor, kept the Prime Rate as is during the 6th of their eight scheduled meetings for 2019. The Current Target rate is 1.75%. (Bank Prime rate is derived from this rate. Today’s Bank Prime rate is 3.95%. Over 99% of time, when the Target Rate is cut, the Banks will reduce the Bank Prime Rate by an equal amount).
This was a very calculated decision that has politics written all over it. While the rest of the world banks have been cutting rates to combat a looming recession due to growing global trade wars and slowing global economies, our Government did nothing. Apparently, the Canadian economy is ‘resilient’. The next Bank of Canada meeting is set for October 30, 2019. Oh, and there’s a Federal election on Oct 21, 2019. Yeah, this has politics written all over it.
WHAT YOU SHOULD KNOW ABOUT MORTGAGE RATES TODAY.
Here’s a quick lesson on how mortgage rates are usually priced…
Lender Calls – Q2 Roundup
– canadianmortgagetrends.com
The second quarter proved a good one for the country’s key broker channel lenders. Mortgage originations were mostly up across the board. One notable exception was Street Capital’s Street Solutions product, which targets the uninsured segment of the mortgage market. It saw a 60% year-over-year decline in originations. Given the pending takeover of Street Capital […]
