Banking regulator working with lenders to stamp out ultra-long mortgages
9/27/2023 | Posted in Mortgage News by Jessi Sandhu
Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer ...
More
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
Fixed mortgage rates expected to surge as bond yields reach 16-year high
9/22/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. ...
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
Fixed rates back as top mortgage product of choice: National Bank
8/23/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon. ...
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
Expect interest rates to remain high until 2025: former BoC governor
8/2/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said. ...
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
How are mortgages keeping inflation high?
7/15/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada hiked interest rates again this week in response to persistently high inflation, prompting questions about the role of mortgages in the ongoing battle with high ...
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 higher ...
More
Rising mortgage interest costs now biggest factor driving inflation - and they're not done yet
6/28/2023 | Posted in Canada Living by Jessi Sandhu
Inflation cooled on a month-over-month basis in May, but one factor that has been unrelenting in driving the consumer price index higher is mortgage interest costs — and the ...
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
When will the Bank of Canada put the brakes on its rate-hike campaign?
6/27/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Economists weigh in on the possibilities for the central bank’s policy rate ...
More
Another week, another rise in fixed mortgage rates. How high could they go?
6/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage lenders, including most of the big banks, have continued to hike their fixed mortgage rates following the recent surge in Government of Canada bond yields, which are used ...
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
Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow
6/11/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year high ...
More
"More pain" for variable-rate mortgage holders as the BoC hikes rates
6/7/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Variable-rate mortgage holders are in for “more pain” following the Bank of Canada’s half-expected decision to hike interest rates again. ...
More
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 could ...
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
Further BoC hike may be necessary, says leading economist
5/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The central bank has kept the policy rate frozen at 4.5% in its two most recent meetings ...
More
Canada's residential mortgage debt now $2.08trn, says CMHC
5/25/2023 | Posted in Financial Health by Jessi Sandhu
The federal housing agency has revealed the latest industry trends ...
More
Canada braces for higher mortgage defaults
4/21/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu
Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis of ...
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 deepens, ...
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
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
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
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
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. ...
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.