Jessi Sandhu - Your Brampton Real Estate Agent
Mortgage Consumers News and Articles | My Blog

Mortgages take up largest slice of Canada's household debt

5/18/2020 | Posted in Financial Health by Jessi Sandhu

real-estate-market-growth-125.jpg - Real Estate News Canadian household debt has reached $2.28 trillion in total as of March, with mortgage payments accounting for a significant slice of the growth, according to data from the Bank ... More


Stress Test Rate to Drop

5/16/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

business-data-reporting-274.jpg - Real Estate News Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week. ... More


Canada braces for higher mortgage defaults

4/21/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

laptop-research-453.jpg - Real Estate News 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

mortgages-475.jpg - Real Estate News 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

senior-couple-meeting-agent-258.jpg - Real Estate News 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

mortgage-button-248.jpg - Real Estate News 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

home-purchase-contract-441.jpg - Real Estate News 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

big-6-banks-canada-317.jpg - Real Estate News 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

home-purchase-contract-441.jpg - Real Estate News 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

marketing-analysys-104.jpg - Real Estate News Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that. ... More


Bank of Canada lowers overnight rate target to 1.25 percent

3/4/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu

bank-of-canada-84.jpg - Real Estate News The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit ... More


Coronavirus-driven rate cut could add kerosene to Canada's housing market

3/4/2020 | Posted in Canadian Housing Market by Jessi Sandhu

coronavirus-468.jpg - Real Estate News Lower mortgage rates likely to offset any major drag from a global outbreak ... More


BoC rate must be at 1.5%, think-tank's fiscal policy council says

3/2/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

mortgage-cloud-44.jpg - Real Estate News Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark policy ... More


OSFI considering new benchmark rate for uninsured mortgages

2/19/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

couple-laptop-106.jpg - Real Estate News 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


Morneau unveils new insured mortgage stress test rate

2/18/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News Ottawa changing stress test rate for insured mortgages starting April 6. ... More


Drive until you qualify

2/10/2020 | Posted in GTA Real Estate by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News Mortgage stress test forces homebuyers further outside GTA to find house they can afford. ... More


Fixed rate mortgages could go on sale

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

mortgage-button-248.jpg - Real Estate News Fixed rate mortgages could go on sale as fears of spreading coronavirus push bond yields down ... More


Canadian reverse mortgage debt reaches nearly $4 billion

1/28/2020 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More


Why longer-term mortgages could be beneficial

1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

home-purchase-contract-441.jpg - Real Estate News The current lending rules in Canada are geared towards shorter-mortgage terms ... More


Ultra-low Rates Will Persist: RBC

1/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgage-rates---interest-rates-48.jpg - Real Estate News The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics. ... More


Scotiabank pushes back its Bank of Canada rate cut forecast

11/29/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu

mortgage-cloud-44.jpg - Real Estate News Scotiabank now sees the Bank of Canada lowering its benchmark interest rate at the beginning of 2020 instead of at the central bank’s next meeting. ... More


CMHC's Siddall Defends Policies, Provides Update on the FTHBI

11/22/2019 | Posted in Canadian Housing Market by Jessi Sandhu

calculator--analysis--reporting-128.jpg - Real Estate News Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ... More


Canadian mortgage debt growth continues unabated

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

mortgage-application-form-247.jpg - Real Estate News 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


Mortgage interest cost index slows but cost of living remains higher

10/21/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

business-data-reporting-274.jpg - Real Estate News The cost of living was higher across many products and services in September. ... More


Low interest rates are the market's lifeline during tougher times

9/25/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgage-rates---interest-rates-48.jpg - Real Estate News Employment figures had a major influence on the market's dynamics. ... More


More Fed cuts expected to push Canadian interest rates lower

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

us--canada-121.jpg - Real Estate News Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well. ... More


23% of millennials justify lying on a mortgage application

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

mortgage-application-form-247.jpg - Real Estate News Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud. ... More


Mortgage Stress Test Sidelining Young Buyers

8/24/2019 | Posted in Home Buyers by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News New data shows the country’s youngest buyers are being affected most by the government’s mortgage stress tests. ... More


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