OSFI considering new benchmark rate for uninsured mortgages

2/19/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ... More

Tags: Bank of Canada Benchmark Rate, First Time Home Buyers, Home Buyers, Mortgage Consumers, Uninsured Mortgages

Morneau unveils new insured mortgage stress test rate

2/18/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Ottawa changing stress test rate for insured mortgages starting April 6. ... More

Tags: Insured Mortgages, Mortgage Consumers, Stress Test, Uninsured Mortgages

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

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

Mortgage stress test is helping fuel alternative lending boom

4/16/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

CIBC economist says regulators need to revisit rules that have made it harder to get a mortgage. ... More

Tags: Canada Real Estate, Canadian Housing Market, First Time Home Buyer Incentive, Home Buyers, Mortgage Consumers, Mortgages & Real Estate, Private Lenders, Stress Test, Uninsured Mortgages

Insured mortgage levels way down in 2018

11/5/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

Updated numbers from the Bank of Canada showed that the balance of insured mortgage debt suffered its largest decline in history. ... More

Tags: First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Industry, Mortgage Insurance, Mortgage Loan Insurance, Mortgage Market, Mortgage Trends, Uninsured Mortgages

Private lending becomes new normal

6/12/2018 | Posted in Home Buyers by Jessi Sandhu

Private lenders have doubled their share of Canadian mortgages since 2015. ... More

Tags: Condo Buyers, First Time Home Buyers, Home Buyers, Mortgage Trends, Mortgages & Real Estate, Private Lenders, Uninsured Mortgages

Uninsured mortgages buck housing trends across country

3/19/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s uninsured mortgage market reached an eight-year high in January as government steps to reduce taxpayer exposure to the housing market gain traction, according to ... More

Tags: Canada Real Estate, Canadian Home Sales, Canadian Housing Market, Mortgage Consumers, Mortgages & Real Estate, Uninsured Mortgages

No new regulations, drastic home price increases in 2018

1/4/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

By all indications, 2017 has proven to be a tumultuous period in the mortgage and real estate spheres, but a markets observer argued that this year will offer a measure of respite ... More

Tags: Canada, Home Prices, House Prices, Mortgage Consumers, Mortgage Market, Uninsured Mortgages

Longer amortizations and higher costs: Our mortgage outlook for 2018

12/25/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

It’s almost a tradition that Canada’s mortgage czars clamp down on housing in the new year, and 2018 is no exception. ... More

Tags: Bank of Canada, Credit Unions, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate, OSFI, Stress Test, Uninsured Mortgages, Variable Rate Mortgages

Surge in uninsured mortgages 'no coincidence'

12/6/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

Consumers looking to consolidate debt currently have more buying power than they will next month, therefore rushing to refinance their mortgages before the new mortgage ... More

Tags: Canada, Mortgage Consumers, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Uninsured Mortgages

BoC flags risk from low-ratio mortgage loans

12/4/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada has released its latest assessment of the financial system and has once again highlighted risk from mortgages. ... More

Tags: Bank of Canada, Canada, Mortgage Consumers, Mortgage Loan Insurance, Mortgages & Real Estate, Uninsured Mortgages

CMHC takes aim at shadow lenders amid rising debt levels

11/16/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s housing agency is seeking more data on home loans from shadow lenders, amid concern rising levels of debt aren’t being adequately tracked and may increase the ... More

Tags: Canada, Canada Mortgage and Housing Corporation, CMHC, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, Uninsured Mortgages