Stormy economy could lead to higher strain in Canada's mortgage market
6/16/2025 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
CMHC isn't sounding the alarm on the mortgage outlook, but its deputy chief economist flagged some 'warning signs' as Trump's tariff chaos continues ...
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Fixed mortgage rates rise as lenders retreat from aggressive pricing
6/4/2025 | Posted in Mortgage Interest Rates by Jessi Sandhu
A growing number of lenders have continued raising pricing in recent weeks, particularly for uninsured terms. ...
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Ontario delinquencies reach alarming highs amid mortgage renewal surge
5/28/2025 | Posted in Financial Health by Jessi Sandhu
Ontario’s mortgage delinquency rate soared to record highs in the first quarter of 2025, marking the most severe year-over-year spike in the country and raising red flags ...
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Retiring mortgage free? Not the reality for many Canadians
5/27/2025 | Posted in Financial Health by Jessi Sandhu
Millions of Canadians are facing retirement with a tough housing choice: downsize or continue to make monthly mortgage payments. ...
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Fixed rates are creeping up - and variable-rate discounts are shrinking too
5/2/2025 | Posted in Mortgage Interest Rates by Jessi Sandhu
Some of the lowest fixed mortgage rates have vanished in recent weeks, and lenders are quietly tightening up their variable-rate discounts too. ...
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Fixed mortgage rates are falling, but variable rates remain stubbornly high
4/5/2025 | Posted in Mortgage Interest Rates by Jessi Sandhu
In an unusual twist in Canada's mortgage market, fixed mortgage rates are on a downward trajectory while variable-rate pricing is tightening. This divergence presents both ...
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Canada's mortgage arrears creep back to record pandemic levels
4/1/2025 | Posted in Financial Health by Jessi Sandhu
Despite affordability gains, missed payments hit highest rate since early 2021 ...
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Canada's banking regulator considers alternative to mortgage stress test
3/11/2025 | Posted in Home Buyers by Jessi Sandhu
Canada’s top banking regulator is considering a new approach to mortgage risk management that could replace the current stress test with stricter rules on how much banks can ...
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Canada's new mortgage rules are here: Insights from brokers
12/16/2024 | Posted in Mortgage News by Jessi Sandhu
Sweeping changes to Canada’s mortgage system, announced in September by the federal government, officially took effect on Sunday. Brokers said the changes could open the ...
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Canada's coming mortgage renewal wave: No longer a crisis?
12/17/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
It was billed as a potential looming crisis for Canada’s economy: the wave of mortgages coming up for renewal in 2025 and 2026 at significantly higher rates than those on ...
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By how much could the Bank of Canada cut rates in December?
11/26/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada (BoC) is preparing for its final rate announcement of 2024 on December 11, with economists anticipating a potential further reduction in its lending rate that ...
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OSFI's stress test change sparks industry confusion
11/29/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most ...
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Canada's banking regulator loosens mortgage stress-test rules. Who will benefit?
11/25/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders. ...
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Canada's mortgage renewal wall: A 'headwind' but not a crisis
11/14/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
BMO economist predicts homeowners can absorb higher mortgage rates ...
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Bank of Canada says changes to mortgage structure will not resolve housing affordability
11/6/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on Wednesday, ...
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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 ...
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Canadian homeowners consider switch to variable rate mortgages after big rate cut
10/24/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, mortgage ...
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OSFI eliminated mortgage stress test to avoid losing public confidence: Routledge
10/3/2024 | Posted in Mortgage News by Jessi Sandhu
Canada’s banking regulator recently relaxed its mortgage stress test rule partly due to concerns about how the public perceives the agency’s role, according to Peter ...
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Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say
10/1/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53% ...
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Federal government releases technical details of its latest mortgage changes
9/25/2024 | Posted in Government and Regulation by Jessi Sandhu
As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on ...
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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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Federal government raises insured mortgage cap to $1.5M, expands 30-year amortizations
9/17/2024 | Posted in Government and Regulation by Jessi Sandhu
The federal government has unveiled sweeping changes to Canada’s mortgage system, calling them the “boldest reforms in decades.” ...
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Preparing for your mortgage renewal: Tips to ease the stress of higher payments
8/13/2024 | Posted in Mortgage Advice by Jessi Sandhu
Millions of Canadian homeowners are facing mortgage renewals in the coming years, with many feeling stressed as they prepare for higher payments amid persistently elevated ...
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First-time buyers relying on gifted down payments more than ever
7/29/2024 | Posted in First Time Home Buyers by Jessi Sandhu
Mortgage down payment gifts from family members remain a crucial factor for first-time homebuyers in Canada, even as the housing market cools and economic conditions tighten. ...
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Borrowers must adapt to 'new normal' of higher rates, says Macklem
6/16/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu
Interest rates may slowly start to be easing around the world, but they won’t be returning to pandemic levels and borrowers will need to adjust accordingly. ...
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OSFI doubles down on keeping stress test for uninsured mortgage switches
6/13/2024 | Posted in Government and Regulation by Jessi Sandhu
The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches. ...
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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 renew. ...
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Feds commit to exploring CRA income verification in budget 2024 to address mortgage fraud
4/12/2024 | Posted in Government and Regulation by Jessi Sandhu
The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency. ...
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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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Ottawa to allow 30-year amortization for first-time buyers' mortgages on new homes
4/11/2024 | Posted in Government and Regulation by Jessi Sandhu
Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians ...
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