Fixed mortgage rates are falling

1/30/2023 | Posted in Interest Rates by Jessi Sandhu

While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction. ... More

Tags: Canadian Mortgage Market, First Time Home Buyers, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers

OSFI proposes new mortgage restrictions

1/13/2023 | Posted in Mortgage News by Jessi Sandhu

Canada's banking regulator has unveiled three new regulatory proposals that could further restrict mortgage lending pending a just-launched consultation period. ... More

Tags: Canadian Mortgage Market, First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Delinquency, Mortgage Industry, Mortgage Lenders, Mortgage Market, Mortgage Refinancing, Mortgage Trends, OSFI, Real Estate Investors

Variable-rate mortgages are about to trigger payment increases

8/8/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

There has been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Refinancing

StatCan: Mortgage activity remains strong among non-bank lenders

8/5/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

Trend builds on substantial annual increase in Canadian residential mortgage debt last year. ... More

Tags: Alternative Lenders, Canadian Mortgage Market, Mortgage Consumers, Mortgage Rates, Mortgage Trends, Private Lenders

Analysts: Large BoC hikes will likely end sooner than later

5/31/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu

The increments in the central bank’s rate hikes will become narrower in the foreseeable future, analysts say ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Canadian Mortgage Market, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast

Bank of Canada all but certain to raise lending rates this week - with more hikes to come

5/30/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu

Central bank rate expected to hit 1.5% on Wednesday — soon it could be twice that ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Canadian Home Sales, Canadian Housing Market, Canadian Mortgage Market, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast

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

Tags: Big Six, Canadian Banks, Canadian Mortgage Market, Mortgage Consumers, Mortgage Deferrals

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 deepens, ... More

Tags: Big Six, Canadian Mortgage Market, Coronavirus, Mortgage Consumers, Mortgage Deferrals, Mortgage Trends

Canadian Home Sales Brace for 30% Drop on Virus

4/2/2020 | Posted in Canadian Housing Market by Jessi Sandhu

Real estate listings are drying up, open houses have been canceled, and buyers are staying home. ... More

Tags: Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Coronavirus, Housing Correction Canada, Real Estate Trends

Canada's big banks field more than 200,000 mortgage deferral requests

3/28/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Canada’s largest banks are fielding a deluge of requests to defer payments on mortgages as businesses suffer from efforts to curb the spread of the new coronavirus and job ... More

Tags: Big Six, Canadian Mortgage Market, Mortgage Consumers, Mortgage Deferrals, Mortgage Market

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 ... More

Tags: Canadian Mortgage Market, CMHC, Government Intervention, Government of Canada, Insured Mortgages

Government announces new mortgage buying program

3/17/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

The Canadian government has announced a further measure to mitigate the impact of the COVID-19 crisis and to help maintain stability in the financial system. ... More

Tags: Canadian Mortgage Market, CMHC, Mortgage Consumers

Fixed rate mortgages could go on sale

1/29/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu

Fixed rate mortgages could go on sale as fears of spreading coronavirus push bond yields down ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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. ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

1/8/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

Tags: Bank of Canada, Big Six, Canadian Banks, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Affordability, Housing Demand, Stress Test

Canadian mortgage performance to remain stable in 2020

12/18/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Canadian mortgage lenders shouldn’t worry too much about the performance of their loans in 2020 according to a new report from Fitch Ratings. ... More

Tags: Canada Real Estate, Canadian Credit Market, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Correction Canada

Canadian mortgage debt growth continues unabated

10/10/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s central ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Statistics Canada

More Fed cuts expected to push Canadian interest rates lower

9/19/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well. ... More

Tags: Canadian Mortgage Market, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

Reverse mortgages are booming in Canada

9/16/2019 | Posted in Mortgage News by Jessi Sandhu

Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon. ... More

Tags: Canadian Mortgage Market, Canadian Seniors, Reverse Mortgages

23% of millennials justify lying on a mortgage application

9/16/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud. ... More

Tags: Canadian Mortgage Market, Millenials, Mortgage Consumers, Mortgage Market

Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

8/10/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes. ... More

Tags: Canada Real Estate, Canadian Home Sales, Canadian Housing Market, Canadian Mortgage Market, Condo Prices Toronto, Home Buyers, Home Prices, House Prices, Toronto Real Estate Prices

With fixed rates below variable ones, mortgage market is in the Upside Down

7/28/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate. ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

The era of higher mortgage rates was short-lived

7/18/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu

Those renewing or about to renew their mortgages can breathe a sigh of relief: The era of higher interest rates appears to have been short-lived. ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Alternative lenders increase share of slowing Canadian mortgage market: CMHC

7/17/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

An increasing number of homeowners turned to alternative lenders last year, while new mortgage growth reached its slowest pace in more than a quarter of a century amid government ... More

Tags: Alternative Lenders, Canadian Mortgage Market, CMHC, Home Buyers, Mortgage Consumers, Mortgage Industry, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Private Lenders