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

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

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

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

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

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Home Sales, Canadian Households, Canadian Housing Market, Mortgage Trends, Variable Rate Mortgages

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

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. ... More

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

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. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, First Time Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends

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

Tags: Big Six, Canadian Mortgage Market, Coronavirus, Mortgage Consumers, Mortgage Deferrals, Mortgage Trends

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

Tags: Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate

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. ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

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 ... More

Tags: Canadian Housing Market, Canadian Real Estate Market Outlook, First Time Home Buyer Incentive, First Time Home Buyers, Insured Mortgages, Mortgage Consumers, Mortgage Loan Insurance, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Statistics Canada

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. ... More

Tags: Cost of Living, Mortgage Consumers, Mortgage Trends, Personal Finance, Statistics Canada

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

Tags: Canadian Mortgage Market, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

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. ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

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

Tags: Alternative Lenders, Canadian Mortgage Market, CMHC, Home Buyers, Mortgage Consumers, Mortgage Industry, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Private Lenders

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

Tags: Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Delinquency, Mortgage Industry, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Reverse Mortgages, Second Mortgages, Stress Test, Uninsured Mortgages, Variable Rate Mortgages

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

Tags: Condo Buyers, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Renewals, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

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. ... More

Tags: Canadian Housing Market, Canadian Real Estate Market Outlook, Home Buyers, Housing Affordability, Mortgage Consumers, Mortgage Delinquency, Mortgage Trends, Mortgages & Real Estate, OSFI, Stress Test

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 ... More

Tags: Bank of Canada, Canada Mortgage and Housing Corporation, Household Debt, Mortgage Consumers, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Uninsured Mortgages

Fixed or Variable Rate?

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. ... More

Tags: Fixed Rate Mortgages, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages