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 ...
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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. ...
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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. ...
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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 ...
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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. ...
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What the latest inflation data means for the upcoming Bank of Canada rate decision
6/28/2022 | Posted in Interest Rates by Jessi Sandhu
Inflation in Canada grew at a pace not seen since 1983, further increasing the likelihood of an “oversized” rate hike of 75 basis points at the Bank of Canada’s ...
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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. ...
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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 ...
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Have fixed mortgage rates peaked?
5/24/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
Notwithstanding some additional rate hikes last week, fixed mortgage rates have seemingly plateaued following a stellar run-up over the past several months. ...
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A 50-bps rate hike in June is ''virtually guaranteed'' after April's hot inflation reading
5/19/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
The cost of living continued to increase in April, raising the odds that the Bank of Canada will respond forcefully with at least a 50-basis-point rate hike at its June meeting. ...
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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, ...
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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. ...
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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
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 ...
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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 ...
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Why longer-term mortgages could be beneficial
1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The current lending rules in Canada are geared towards shorter-mortgage terms ...
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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. ...
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Canadian households to get short break from rising debt costs
12/31/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
TD economists says the cost of servicing debts should ease early in 2020 ...
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CMHC's Siddall Defends Policies, Provides Update on the FTHBI
11/22/2019 | Posted in Canadian Housing Market by Jessi Sandhu
Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ...
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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 ...
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Mortgage interest cost index slows but cost of living remains higher
10/21/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The cost of living was higher across many products and services in September. ...
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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. ...
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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. ...
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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. ...
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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 ...
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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. ...
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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. ...
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Regulator defends mortgage stress test in face of pushback from industry
6/11/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices. ...
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BoC touts long-term mortgages to open MBS market
5/9/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ...
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5/6/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Goodbye, variable-rate mortgage. Everyone’s going fixed these days, and for good reason. ...
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Bank of Canada to hold interest rates through 2020: TD Securities
3/15/2019 | Posted in Interest Rates by Jessi Sandhu
The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ...
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