BoC: Time to pause but there are no guarantees that will stick

2/16/2023 | Posted in Interest Rates by Jessi Sandhu

Governor Tiff Macklem set an optimistic tone in a speech Thursday but kept it real with warnings about potential headwinds ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, First Time Home Buyers, Home Buyers, Household Debt, Mortgage Consumers, Variable Rate Mortgages

What's next for variable-rate mortgages in 2023?

2/14/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

One of the most prominent discussion points between brokers, agents and their clients, the fixed-versus-variable debate, took a significant swing in 2022 as a big trend of ... More

Tags: First Time Home Buyers, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast, Mortgage Trends, Variable Rate Mortgages

What's next for fixed mortgage rates in Canada?

2/8/2023 | Posted in Real Estate News by Jessi Sandhu

A recent dip in GoC bond yields has provided some welcome relief – but more twists and turns could be ahead ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Fixed Rate Mortgages, Mortgage Consumers

Are mortgage borrowers a risk to Canadian housing market?

2/3/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

An analysis of homeowners' loan-to-value ratios reveals resilient position despite challenges. ... More

Tags: Canadian Debt, Canadian Housing Market, Home Owners, Mortgage Consumers, Mortgage Delinquency

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

Here's what another Bank of Canada rate hike means for Canadians

1/27/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada hiked its key interest rate by a quarter of a percentage point Wednesday, bringing it to 4.5 per cent. Here's a look at what the rate means, how analysts ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Variable Rate Mortgages

Arrears rate rises from its all-time low

1/25/2023 | Posted in Mortgage News by Jessi Sandhu

Canada’s national arrears rate ticked up from its all-time low in October, according to data from the Canadian Bankers Association. ... More

Tags: Household Debt, Mortgage Arears, Mortgage Consumers, Mortgage Trends

Fed and Bank of Canada have reason to pause hikes, says strategist

1/24/2023 | Posted in Interest Rates by Jessi Sandhu

The Federal Reserve and Bank of Canada can afford to pause interest-rate increases now because inflation pressures are easing rapidly, according to a Bank of Montreal strategist. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

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

Will the Bank of Canada raise mortgage rates again in 2023?

1/3/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

Some industry analysts believe the time for rate hikes has come to an end. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Rates Forecast, Variable Rate Mortgages

A $200,000+ income is now needed to qualify for an average mortgage in Toronto & Vancouver

12/20/2022 | Posted in Home Buyers by Jessi Sandhu

High home prices and rising interest rates over the course of 2022 have made it significantly harder for buyers to qualify for the average mortgage. ... More

Tags: Canada Real Estate, Canadian Household Wealth, Canadian Housing Market, Home Buyers, Mortgage Consumers, Toronto Living

Is a change to the mortgage stress test on the way?

12/5/2022 | Posted in Home Buyers by Jessi Sandhu

With Canada’s banking regulator set to deliver its verdict in mid-December on whether changes to the mortgage stress test are required, a prominent economist at one of the ... More

Tags: First Time Home Buyers, Mortgage Consumers, OSFI, Stress Test

BoC expected to end year off with one more rate increase, likely to pause hikes soon

12/2/2022 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Home Buyers, Household Debt, Mortgage Consumers, Variable Rate Mortgages

As bond yields fall, mortgage providers are cutting fixed mortgage rates

11/29/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu

Fixed mortgage rates are slowly following bond yields and trending downward. ... More

Tags: Fixed Rate Mortgages, Mortgage Consumers

Major mortgage lenders let borrowers shift unpaid interest onto principal to cope with rising costs

11/21/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

At least two of Canada’s largest mortgage lenders allow borrowers to shift a portion of their interest costs onto the principal owed on their mortgages, helping them cope ... More

Tags: Big Six, Mortgage Consumers, Mortgage Lenders, Mortgage Trends

Canada's mortgage stress test - leading lenders weigh in

11/15/2022 | Posted in Home Buyers by Jessi Sandhu

Already a source of huge debate in the mortgage industry since its introduction, the mortgage stress test came under scrutiny from executives at top Canadian lenders during a ... More

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

BoC's Macklem: Rate hikes nearing end, but consumer pain ahead

11/3/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada is almost done with its current series of rate hikes, but consumers should brace for higher borrowing costs before the end, according to central bank governor ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Living, Consumer Confidence, Consumer Spending, Household Debt, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Rates Forecast, Variable Rate Mortgages

Over half of mortgage borrowers concerned about renewals

11/1/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time. ... More

Tags: Mortgage Consumers, Mortgage Renewals

Mortgage rates are already rising ahead of another hike by the Bank of Canada

10/18/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu

While homeowners with variable-rate mortgages brace for another expected hike next week from the Bank of Canada, fixed-rates are rising too, according to rate insiders. ... More

Tags: Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast

OSFI has no plans to loosen the stress test

9/14/2022 | Posted in Home Buyers by Jessi Sandhu

Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent. ... More

Tags: First Time Home Buyers, Home Buyers, Mortgage Consumers, Office of the Superintendent of Financial Institutions, OSFI, Stress Test

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

Bank of Canada rate could peak in September, says CIBC economist

7/18/2022 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada's intention to "frontload" its path to higher rates means its policy rate could peak as early as September, according to a prominent CIBC ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Interest Rates, Mortgage Consumers, Mortgage Rates Forecast

Bank of Canada hikes rate to 2.5% - here's what it means for you

7/13/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada has raised its benchmark interest rate by the largest amount in more than 20 years, sharply increasing the cost of borrowing in an attempt to rein in runaway ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast, Variable Rate Mortgages

Bank of Canada to hike key interest rate by 0.75%, economists say

7/10/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu

Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Home Buyers, Mortgage Consumers, Variable Rate Mortgages

Monthly payments on variable-rate mortgages could increase as borrowers near their 'trigger rate'

6/21/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

An obscure feature of variable-rate mortgages may push up the monthly payments for an increasing number of borrowers. ... More

Tags: Mortgage Consumers, Variable Rate Mortgages

Extending mortgage period could keep payments in check even as rates rise

6/17/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

Experts say extending the amortization period for your mortgage could keep your monthly payments in check even as you face higher interest rates, but caution that doing so comes ... More

Tags: Canada Living, Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals

Bank of Canada likely to mirror 0.75 per cent Fed hike next month: economists

6/16/2022 | Posted in Interest Rates by Jessi Sandhu

Economists believe it's even more likely Macklem will have the confidence to increase the benchmark rate the same as U.S. bank authority. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Rates Forecast, Mortgage Trends

Bank of Canada says some Canadians could see mortgage payments jump by 45% in 2025-26 as rates rise

6/10/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

Central bank highlights rising debt loads and falling home prices among ... More

Tags: Bank of Canada, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Rates Forecast, Mortgage Refinancing, Mortgage Trends

Housing affordability had its worst decline "in a generation"

6/7/2022 | Posted in Canada Living by Jessi Sandhu

The first quarter marked the fifth consecutive deterioration in housing affordability, and the worst drop yet, according to National Bank of Canada. ... More

Tags: First Time Home Buyers, Housing Affordability, Mortgage Consumers