4/16/2024 | Posted in Mortgages and Real Estate by Francesco Basile
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Canadian regulator cracks down on high-debt mortgages to protect borrowers ... More

Real Estate & Mortgage News

  4/12/2024 | Posted in Government and Regulation by Francesco Basile
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The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency. ... More

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  4/11/2024 | Posted in Government and Regulation by Francesco Basile
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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 ... More

Real Estate & Mortgage News

  3/22/2024 | Posted in Government and Regulation by Francesco Basile
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Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders. ... More

Real Estate & Mortgage News

  3/19/2024 | Posted in Canadian Economy and Interest Rates by Francesco Basile
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'I hope they're not tepid,' says expert about BoC's upcoming decisions ... More

Real Estate & Mortgage News

  3/13/2024 | Posted in Mortgages and Real Estate by Francesco Basile
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The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More

Real Estate & Mortgage News

  3/5/2024 | Posted in Financial Health by Francesco Basile
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Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023. ... More

Real Estate & Mortgage News

  1/25/2024 | Posted in Mortgages and Real Estate by Francesco Basile
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Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022. ... More

Real Estate & Mortgage News

  12/13/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ... More

Real Estate & Mortgage News

  12/13/2023 | Posted in Canadian Housing Market by Francesco Basile
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Some home sellers are struggling to find buyers amid high mortgage costs, according to an economist who says Canada’s housing market is in the midst of “a very healthy ... More

Real Estate & Mortgage News

  12/11/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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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 ... More

Real Estate & Mortgage News

  11/15/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon ... More

Real Estate & Mortgage News

  11/9/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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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

Real Estate & Mortgage News

  10/31/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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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) ... More

Real Estate & Mortgage News

  10/25/2023 | Posted in Canadian Economy and Interest Rates by Francesco Basile
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The Bank of Canada delivered its second straight rate hold today, but signalled that it remains concerned about inflationary risks and price pressures. ... More

Real Estate & Mortgage News

  10/20/2023 | Posted in Mortgage News by Francesco Basile
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Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week. ... More

Real Estate & Mortgage News

  10/18/2023 | Posted in Home Owners by Francesco Basile
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Police forces and legal experts in Ontario are pushing for the provincial government to make legislative changes that would reduce elaborate fraud scams targeting homeowners. ... More

Real Estate & Mortgage News

  10/18/2023 | Posted in Mortgage News by Francesco Basile
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Canada’s banking regulator has revealed its decision on initial public consultation regarding its B-20 guidelines, indicating in a statement yesterday that it will not ... More

Real Estate & Mortgage News

  10/12/2023 | Posted in Home Owners by Francesco Basile
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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 ... More

Real Estate & Mortgage News

  10/7/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated. ... More

Real Estate & Mortgage News

  10/2/2023 | Posted in Home Owners by Francesco Basile
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With interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain as ... More

Real Estate & Mortgage News

  9/29/2023 | Posted in Mortgage Interest Rates by Francesco Basile
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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. ... More

Real Estate & Mortgage News

  9/27/2023 | Posted in Mortgage News by Francesco Basile
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Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer ... More

Real Estate & Mortgage News

  9/22/2023 | Posted in Mortgage Interest Rates by Francesco Basile
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Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. ... More

Real Estate & Mortgage News

  9/14/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More

Real Estate & Mortgage News

  8/23/2023 | Posted in Mortgage Interest Rates by Francesco Basile
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Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon. ... More

Real Estate & Mortgage News

  8/14/2023 | Posted in Home Buyers by Francesco Basile
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Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed ... More

Real Estate & Mortgage News

  8/2/2023 | Posted in Mortgage Interest Rates by Francesco Basile
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A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said. ... More

Real Estate & Mortgage News

  7/26/2023 | Posted in Mortgages and Real Estate by Francesco Basile
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ... More

Real Estate & Mortgage News

  7/15/2023 | Posted in Canadian Economy and Interest Rates by Francesco Basile
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The Bank of Canada hiked interest rates again this week in response to persistently high inflation, prompting questions about the role of mortgages in the ongoing battle with high ... More

Real Estate & Mortgage News