11/29/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most ... More
11/26/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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The Bank of Canada (BoC) is preparing for its final rate announcement of 2024 on December 11, with economists anticipating a potential further reduction in its lending rate ... More
11/25/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders.
... More 11/14/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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BMO economist predicts homeowners can absorb higher mortgage rates
... More 11/6/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on ... More
11/4/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being ... More
10/24/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, ... More
10/9/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall ... More
9/22/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?
... More 7/17/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More
7/11/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest ... More
6/19/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ... More
6/19/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially ... More
5/29/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More
5/22/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans ... More
4/16/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canadian regulator cracks down on high-debt mortgages to protect borrowers
... More 3/13/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
1/25/2024 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
... More 12/27/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that ... More
12/13/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.
... More 12/11/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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In its third-quarter earnings call, Scotiabank said it was undertaking a strategy of “customer deselection at renewal” as part of its efforts to slow its mortgage ... More
11/23/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.
... More 11/21/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More
11/15/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon
... More 11/9/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages ... More
10/31/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More
10/7/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated.
... More 9/14/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More
8/6/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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With the Bank of Canada’s interest rate hikes aimed at fighting inflation, the housing market in Canada experienced a slight drop in prices, according to a new report ... More
7/26/2023 | Posted in Mortgages and Real Estate by Sarah Morrison
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.
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