Stress Test Rate to Fall to 4.79%
The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year […]
Mortgage Blog
COVID-19 Stokes Canadian Homebuying Intentions: MPC Report
The global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to […]
Latest in Mortgage News: Toronto Home Prices Set July Record
The rebound for Toronto home prices continued in July, with the average selling price reaching a record $943,710. That’s a 16.9% increase compared to a […]
Fixed or Variable? Floating-Rate Mortgages Losing Their Lustre
It can be one of the most difficult choices for mortgage borrowers—fixed rate or variable? Thanks to historically low spreads between the two, that choice […]
Latest in Mortgage News: Economic Slowdown Hitting Alternative Lenders Hard
The COVID pandemic has taken a toll on many aspects of Canada’s mortgage industry, but none more so than private lenders, which have seen a […]
How the Government Has Saved the Economy from COVID-19…So Far
Despite deep economic pain caused by the global pandemic, the Canadian economy—and the housing sector in particular—appears to be bouncing back from the near-complete shutdown […]
Bank of Canada Hints at No Interest Rate Hikes Until 2023
Prospective homebuyers were reassured today that interest rates will remain near historic lows “for a long time,” according to Bank of Canada Governor Tiff Macklem. […]
Canadian Real Estate Defies COVID, Sales up 63% in June
National home sales shot up in June, with prices also climbing steadily, according to June data released today by the Canadian Real Estate Association (CREA). […]
Lower Immigration to be a Drag on Housing for Years, Says TD
A drop in immigration levels will have “lasting impacts on ownership housing” in Canada for years to come, according to a research report from TD […]
Latest in Mortgage News: June Data Indicates a Housing Rebound. But Will it Last?
Home prices, sales and new starts are all rebounding, according to the latest June data. But some, including the Canada Mortgage and Housing Corporation (CMHC), […]
9 Ways to Keep Your Credit Score as High as Possible (Part II)
In our previous post, we spoke about the fact that there are so many credit score providers out there, all providing different results, and chances […]
Why Is My Credit Score Different From What Lenders See? (Part I)
It’s pretty easy to track your credit score these days—perhaps through a paid subscription to Equifax Canada or Trans Union Canada, or through free offerings […]
Mortgage Rates Keep Setting New Record Lows
While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed […]
Latest in Mortgage News: Newton to Provide Free TransUnion Access to its 6,000+ Velocity Users
Starting today, the more than 6,000 mortgage brokers who use the Velocity mortgage operating system will gain free access to TransUnion credit reports for the […]
Home Sales & Prices Won’t Fully Recover Until 2022, Says CMHC
Significant drops in employment in Canada’s major cities will keep downward pressure on housing demand, with sales and home prices not expected to rebound to […]
Economic Recovery to be “Prolonged and Bumpy,” Says BoC’s Macklem
Adopting a more pessimistic tone than his predecessor, new Bank of Canada Governor Tiff Macklem said the country faces a challenging path to economic recovery, […]
Q2 2020 Bank Earnings – All About Provisions and Mortgage Deferrals
For the second-quarter earnings season, all eyes were on the Big 6 banks’ credit loss provisions and mortgage payment deferral programs. With the onslaught of […]
Canadian Home Sales Rebound 57% from April, But Still Down Sharply vs. 2019
After the steepest decline on record in April, Canadian home sales posted a 56.9% rebound in May, while the number of new listings surged 69%. […]
Latest in Mortgage News: 4 in 10 Buyers Open to Purchasing a Home “Virtually”
Social distancing restrictions in place for the past few months have transformed the way homes are bought and sold, with many showings now taking place […]
Genworth and Canada Guaranty Won’t Adopt CMHC’s New Mortgage Rules
Following the announcement of CMHC’s new mortgage rules last week, Canada’s other two mortgage insurers, Genworth Canada and Canada Guaranty, confirmed today they will not […]