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
Q3 Lender Earnings: The Unexpected Recovery Dec 2nd
The country’s key mortgage lenders recently released their third-quarter earnings, and it’s safe to say results were better-than-expected all around. Equitable Bank had its best-ever third quarter, while First National had its own record quarter. “For customers and partners, we ori.... More »
Can you pay off your debt while saving for retirement? + MORE Sep 2nd
Ask MoneySense
We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company p.... More »
Despite Uncertainty, Canadians Are Keeping Up With Mortgage Payments + MORE Oct 5th
You might have heard some sensationalist news stories over the past year about Canadian homeowners over-borrowing. With the employment rate so low, and mortgage debt so high, how could Canadians possibly keep up with their payments? Headlines spewed dire warnings that once payment deferrals expired,.... More »
CMHC reports annual pace of housing starts slowed in February + MORE Mar 9th
The housing agency said Friday the annual pace of housing starts slowed in February as higher mortgage rates and other economic conditions soften demand. Economists had expected an annual pace of 205,000 for the month but instead fell to 173,153 units..... More »
The mortgage pro’s guide to AI: What to use, when, and why it matters + MORE Jul 8th
From writing emails and analyzing client data to brainstorming marketing ideas, mortgage professionals are embracing AI to work more efficiently. But knowing which tools to use—and how to use them wisely—can make all the difference..... More »
Regulators Deserve Praise…and Reproach
– canadianmortgagetrends.com
CMT has a long record of critiquing government rule changes in the mortgage business. It’s a check and balance on a bureaucratic system that sometimes “forgets” to consult stakeholders and discounts the consumer repercussions of its policies. But it would be a mistake to misinterpret this as advocating for the status quo. On the contrary, Canada’s mortgage regulators have kept our housing market from going completely off the rails. Specifically, they’ve been prescient and wise in reversing lax lending policies, including: Zero-down insured loans 100% rental financing 95% insured refinances 95% stated income financing Insured interest-only financing High-ratio HELOCs Insufficient minimum credit scores Inadequate READ MORE
Why the real estate market is slowing down in 2017
– moneysense.ca
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Real Estate Outlook Intro
GTA Market Outlook 2017
B.C. Market Outlook 2017
Why the market will slow down
How accurate was the 2016 outlook?
While real estate might be a product of local markets, probably the single biggest reason for the potential nation-wide real estate slowdown in 2017 are macroprudential measures introduced in late 2015 and throughout 2016 (and possibly stretching into this year, should banks be required to cover a portion of mortgage default losses)…
