Homeowners won't face mortgage stress test if renewing with new lender: OSFI
9/26/2024 | Posted in Home Owners by Jessi Sandhu
Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress test. ...
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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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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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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 ...
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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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Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem
11/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ...
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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) ...
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OSFI seeing a deterioration in credit quality, says borrowers to face challenges at renewal
10/12/2023 | Posted in Home Owners by Jessi Sandhu
Canada’s banking regulator says the sustained increases in interest rates over the past 18 months have challenged some borrowers’ ability to pay and led to a ...
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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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Latest in mortgage news: Mortgage rates keep surging higher
9/29/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise. ...
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Fixed rates back as top mortgage product of choice: National Bank
8/23/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon. ...
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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 ...
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Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says
6/22/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ...
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6/6/2023 | Posted in Interest Rates by Jessi Sandhu
After hitting pause on rates, growing speculation the bank is ready to hike again ...
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Canadian mortgage borrowers have a 'rare opportunity'
9/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests. ...
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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. ...
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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. ...
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Big banks tighten grip on mortgage market after rule changes stifle competition
12/14/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu
New B-20 rules have created an uneven playing field because stress tests don't apply to people renewing mortgages with their current lender ...
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