Mortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
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
New report examines how rising interest rates have impacted home prices in Canada
8/6/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
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
What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.
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What mortgage owners need to know about the Bank of Canada's rate hike
7/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of ... More
Struggling mortgage holders could see lenders waive fees under new guidelines
7/6/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of ... More
How risky is it to extend Canadian mortgage amortizations?
6/27/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ... More
Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says
6/22/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ... More
CMHC chief: Longer amortizations will not ensure housing affordability
6/20/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Policymakers can take more concrete steps to alleviate consumer worries, national housing agency head says
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Fixed mortgage rates surge again, pushing rates under 5% to the brink
6/16/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.
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Monthly Mortgage Payments Could Spike 20-40% Over Next 3 Years: Bank of Canada
5/31/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
While a large number of mortgage holders have seen their monthly payment rates jump over the past year due to rising interest rates, the Bank of Canada (BoC) says the impact ... More
Canadian banks have processed 670,000 mortgage deferrals in first month
4/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More
Canada's big banks field half a million mortgage deferral requests
4/4/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic ... More
CMHC expands Insured Mortgage Purchase Program
3/26/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada beefs up liquidity plan with expanded mortgage guarantee
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What the Bank of Canada rate cut means for mortgages
3/5/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that.
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Changing the stress test may raise credit risk for banks says Fitch
2/27/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More
OSFI considering new benchmark rate for uninsured mortgages
2/19/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for ... More
Morneau unveils new insured mortgage stress test rate
2/18/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Ottawa changing stress test rate for insured mortgages starting April 6.
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Why longer-term mortgages could be beneficial
1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The current lending rules in Canada are geared towards shorter-mortgage terms
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Bank of Canada Holds Rates, Shows Less Confidence in Outlook
1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy.
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Ultra-low Rates Will Persist: RBC
1/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics.
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