New mortgage activity slowing - but debt continues rising, says CMHC

11/9/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ... More

Tags: Canada Mortgage and Housing Corporation, Canada Real Estate, Canadian Mortgage Market, Fixed Rate Mortgages, Home Buyers, Home Owners, Mortgage Consumers, Mortgage Market, Mortgage Trends

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

Tags: First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Interest Costs, Mortgage Trends, OSFI

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

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Deferrals, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Mortgage Trends, Variable Rate Mortgages

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

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

Canada mortgage market crisis coming amid high rates?

6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Could the prospect of persistently high rates spell trouble for the market’s stability? ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada GDP, Canada Living, Canada Real Estate, Economic Growth, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends

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

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

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

Stress test is already obsolete

2/22/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The B-20 mandated stress test is already outdated considering current market realities, according to a real estate firm head. ... More

Tags: Condo Buyers, First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, Stress Test

Regulator OSFI opens door to easing Canadian mortgage rules

2/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s banking regulator defended tougher mortgage underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that ... More

Tags: Home Buyers, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, OSFI, Stress Test

Mortgage growth has shrunk to 17-year low

2/5/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Residential mortgage growth rose 3.1 per cent to $1.55 trillion in December from a year earlier, the slowest pace since May 2001, and half the growth rate from two years ago, ... More

Tags: Canada Real Estate, Canadian Banks, Mortgage Market, Mortgage Trends

Just one interest rate rise in 2019: BCREA

12/14/2018 | Posted in Mortgage Interest Rates by Jessi Sandhu

Just a few months ago economists were predicting that the Bank of Canada would take a bullish stance on interest rates following its talk of ‘normalization’ of the ... More

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