CMHC says risks remain in mortgage market as delinquencies creep up

11/4/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being ... More

Tags: Alternative Lenders, Bank of Canada, Bank of Canada Benchmark Rate, Canadian Mortgage Market, CMHC, Mortgage Consumers, Mortgage Delinquency

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

Tags: Canadian Mortgage Market

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 ... More

Tags: Canada Living, Canadian Mortgage Market, Mortgage Consumers, Mortgage Debt, Mortgage Interest Costs, OSFI

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. ... More

Tags: Canadian Debt, Canadian Mortgage Market, Household Debt, Mortgage Consumers, Mortgage Debt

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. ... More

Tags: Canadian Mortgage Market, Mortgage Market, Mortgage Rates Canada

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

Canadian banks have processed 670,000 mortgage deferrals in first month

4/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Tags: Big Six, Canadian Banks, Canadian Mortgage Market, Mortgage Consumers, Mortgage Deferrals

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

Canadian Home Sales Brace for 30% Drop on Virus

4/2/2020 | Posted in Canadian Housing Market by Jessi Sandhu

Real estate listings are drying up, open houses have been canceled, and buyers are staying home. ... More

Tags: Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Coronavirus, Housing Correction Canada, Real Estate Trends

Canada's big banks field more than 200,000 mortgage deferral requests

3/28/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Canada’s largest banks are fielding a deluge of requests to defer payments on mortgages as businesses suffer from efforts to curb the spread of the new coronavirus and job ... More

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

CMHC expands Insured Mortgage Purchase Program

3/26/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada beefs up liquidity plan with expanded mortgage guarantee ... More

Tags: Canadian Mortgage Market, CMHC, Government Intervention, Government of Canada, Insured Mortgages

Government announces new mortgage buying program

3/17/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

The Canadian government has announced a further measure to mitigate the impact of the COVID-19 crisis and to help maintain stability in the financial system. ... More

Tags: Canadian Mortgage Market, CMHC, Mortgage Consumers

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

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

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

1/8/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

Tags: Bank of Canada, Big Six, Canadian Banks, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Affordability, Housing Demand, Stress Test

Canadian mortgage performance to remain stable in 2020

12/18/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Canadian mortgage lenders shouldn’t worry too much about the performance of their loans in 2020 according to a new report from Fitch Ratings. ... More

Tags: Canada Real Estate, Canadian Credit Market, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Correction Canada

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

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

Reverse mortgages are booming in Canada

9/16/2019 | Posted in Mortgage News by Jessi Sandhu

Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon. ... More

Tags: Canadian Mortgage Market, Canadian Seniors, Reverse Mortgages

23% of millennials justify lying on a mortgage application

9/16/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud. ... More

Tags: Canadian Mortgage Market, Millenials, Mortgage Consumers, Mortgage Market

Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

8/10/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes. ... More

Tags: Canada Real Estate, Canadian Home Sales, Canadian Housing Market, Canadian Mortgage Market, Condo Prices Toronto, Home Buyers, Home Prices, House Prices, Toronto Real Estate Prices

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