Latest in mortgage news: Mortgage rates keep surging higher
9/29/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise. ...
More
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
Investors have increased their share of mortgaged homebuyers
9/12/2023 | Posted in Real Estate Investments by Jessi Sandhu
Investors in Canada’s residential real estate market accounted for a larger share of mortgaged purchases than repeat homebuyers in recent years despite rising interest ...
More
OSFI seeks to address problem of fixed-payment variable-rate mortgages
9/8/2023 | Posted in Home Buyers by Jessi Sandhu
It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that ...
More
No end in sight to housing affordability crisis, says BMO's Guatieri
8/28/2023 | Posted in Canadian Housing Market by Jessi Sandhu
The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst. ...
More
Canada's mortgage stress test: Obsolete or still doing its job?
8/14/2023 | Posted in Home Buyers by Jessi Sandhu
Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed ...
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. ...
More
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 higher ...
More
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
7/12/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of ...
More
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. ...
More
Demand grows in Canada for short-term fixed-rate mortgages
5/17/2023 | Posted in Home Buyers by Jessi Sandhu
A string of aggressive interest rate hikes from the Bank of Canada is driving short-term fixed-rate mortgage demand higher, according to a new survey. ...
More
Lenders - including some big banks -are hiking fixed mortgage rates again
5/29/2023 | Posted in Interest Rates by Jessi Sandhu
The past two weeks have seen a flurry of mortgage rate increases at mortgage lenders, including several of the Big 6 banks. ...
More
Mortgage rates are rising in Canada despite virus-relief cuts
3/31/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic. ...
More
Big Six banks to allow 6-month mortgage payment deferral
3/18/2020 | Posted in Mortgage News by Jessi Sandhu
Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers. ...
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 uninsured ...
More
2/10/2020 | Posted in GTA Real Estate by Jessi Sandhu
Mortgage stress test forces homebuyers further outside GTA to find house they can afford. ...
More
Five Things Every New Condo Buyer Should Know
1/3/2020 | Posted in Home Buyers by Jessi Sandhu
Have you decided to purchase a new condo? Consider these things to ensure you understand your rights as a new home buyer. ...
More
Owning a home is a pipedream for many Canadian millennials
12/13/2019 | Posted in Home Buyers by Jessi Sandhu
Millions of Canadian millennials feel they may never be able to follow previous generations into homeownership according to a new survey. ...
More
11/25/2019 | Posted in Canadian Housing Market by Jessi Sandhu
Canadians are satisfied with their homes and neighbourhoods but will probably not stay put according to a new survey. ...
More
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
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
Canadian mortgage borrowers have a 'rare opportunity'
9/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests. ...
More
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
Central bank qualifying rate used in mortgage stress tests falls
7/21/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years. ...
More
OREA calls for relaxed mortgage rules
7/18/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp. ...
More
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
Bank of Canada to cut rates in October, then twice more
7/3/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada will start cutting its key lending rate in October as annual economic growth slows to one per cent in 2020, according to Capital Economics. ...
More
Mortgage market suffers 'extended chill' says Equifax
6/17/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities. ...
More
Price growth expectations and financial risk: top influences for homebuyers
6/13/2019 | Posted in Home Buyers by Jessi Sandhu
Three quarters of homebuyers in three of Canada's largest housing markets are not willing to take financial risks when buying a home, ...
More
More mortgage rate cuts could be coming for Canadian homebuyers
6/11/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canadian mortgage rates have already tumbled in recent months and more discounts could be on the way for homebuyers, a according to a new forecast. ...
More
At Your Service
Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and we'll get back to you promptly.