Rate drops help boost housing affordability: RBC
10/9/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall ... More
Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?
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Supply in Canada's property market surges as mortgage renewals loom
7/17/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More
Interest rate cut hasn't led to rush of homebuyer demand yet: Royal LePage report
7/11/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest ... More
Bank of Canada officials worry that rate cuts may overheat the housing market
6/19/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially ... More
Bank of Canada considered waiting until July to cut interest rates
6/19/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ... More
Residential mortgage debt hits $2.16 trillion amid slowest growth in 23 years: CMHC
5/29/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More
Bank Regulator in Canada Warns of Housing-Payment Shock by 2026
5/22/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans ... More
OSFI announces new stress test for uninsured mortgages
4/16/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian regulator cracks down on high-debt mortgages to protect borrowers
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Variable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
Under-35 households lead the way in reducing mortgage debt, StatCan reports
1/25/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
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2024 housing market and interest rate forecasts
12/27/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that ... More
Latest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.
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Mortgage deselection: Can your lender choose not to renew your mortgage?
12/11/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
In its third-quarter earnings call, Scotiabank said it was undertaking a strategy of “customer deselection at renewal” as part of its efforts to slow its mortgage ... More
Overview of housing initiatives in the government's Fall Economic Statement
11/21/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More
Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
11/23/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.
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Mortgage market risks rising in high-rate environment: CMHC
11/15/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon
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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 ... More
Most Canadian mortgage holders facing big payment shock: RBC
10/31/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More
Mortgage renewals could cause severe downturn
10/7/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated.
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