Mortgage Blog

Category: Industry Trends (33 posts)

Canadian homeowners consider switch to variable rate mortgages after big rate cut

November 6, 2024 | Posted by: Angela Robinson

As the Bank of Canada recently delivered a significant 50-basis-point rate cut, taking its benchmark policy rate to 3.75%, Canadian homeowners and potential buyers are reevaluating their mortgage opti ...

Staying Put: The Growing Trend of Seniors Aging in Place

March 13, 2024 | Posted by: Angela Robinson

In a quiet neighborhood in Georgetown, Ont., James Newcombe, 83, and his wife cherished the familiarity of their spacious home. They had lived there since 1982, raising their c ...

Canada's Economic Warning: Mortgage Renewal Crisis Ahead

January 17, 2024 | Posted by: Angela Robinson

Brace for impact! Canada faces a looming mortgage renewal crisis, with nearly $1 trillion due by 2026. This surge in payments will trigger a demand shock, stressing the economy. To prevent a cr ...

A new category being added to wedding registries: New Home Fund

November 8, 2023 | Posted by: Angela Robinson

A recent survey by Zillow Home Loans reveals that nearly 20% of couples are using their wedding registries to seek financial assistance for their first home purchase. This marks a 55% increase since 2 ...

HSBC Allows Mortgage and Loan Payments in Cryptocurrencies

October 18, 2023 | Posted by: Angela Robinson

HSBC, one of the prominent British banking giants, has taken a significant step toward fostering broader cryptocurrency acceptance by collaborating with FCF Pay, a blockchain payment system. This part ...

Get Married or Get a Mortgage?

September 13, 2023 | Posted by: Angela Robinson

Thinking about buying a house or planning your dream wedding? The costs can vary significantly across different Canadian cities, and we've got the inside scoop! On average, making a down paymen ...

BMO announces its return to the mortgage broker channel

July 12, 2023 | Posted by: Angela Robinson

BMO has announced its plans to re-enter the mortgage broker channel with BMO BrokerEdgeTM. The bank will begin originating mortgages through brokers in early 2024, starting in Ontario and Atlantic Can ...

Homeowners buckling under high interest rates as mortgage rates balloon

June 21, 2023 | Posted by: Angela Robinson

Bank of Canada's interest rate increases have resulted in financial hardship for homeowners, particularly those with variable mortgages, who are struggling to manage their payments. Homeowners a ...

Should I Sell My House Now? 7 Great Reasons To List This Spring—and 3 Times You Might Want To Wait

April 19, 2023 | Posted by: Angela Robinson

As the spring selling season gets underway, homeowners are weighing the advantages of selling now, against the disadvantages of a stressed housing market. Home prices have remained cyclical, with the ...

Edmonton home buyers seem poised to return to the spring market

April 13, 2023 | Posted by: Angela Robinson

A new report by Royal LePage suggests that home buyers in Edmonton who put their house-hunting plans on hold due to rising borrowing costs may return to the market in time for the traditionally busy s ...

Interest-free, but not without charges: Islamic mortgages hit the Canadian housing market

March 1, 2023 | Posted by: Angela Robinson

Financial products are being adapted to match the unique needs of many Muslims For Abdullah Mohiuddin, getting into the housing market involves more than just locating the right home for the rig ...

Canadian Real Estate Buyers Opt For Fixed Terms After Variable Shock

February 1, 2023 | Posted by: Angela Robinson

Variable rate mortgages are falling out of favour as rates rise. Just 29.7% of new uninsured mortgage credit in October had variable interest terms. That’s down from the 40.1% in September, and ...

The process of buying a home is so traumatic that it's making half of homebuyers cry

June 20, 2022 | Posted by: Marc Crossman

The process of purchasing a home is deeply personal and can be emotional, with 65% of those surveyed indicating that they cried through the process. Even if you have all your financial affairs in ...

Long delays at Alberta Land Titles office slowing down real estate transactions

June 13, 2022 | Posted by: Marc Crossman

Without a land title, parties in real estate transactions are in limbo between the date of sale and the purchaser taking possession. These real estate transactions and packages submitted for ...

Monthly payment for new mortgage on a typical home is up nearly $800 from October, one analysis shows

June 6, 2022 | Posted by: Marc Crossman

For more than a decade, the biggest financial obstacle for many homebuyers in pricey markets was coming up with the cash for a down payment. But with rapidly rising borrowing costs, being able to affo ...

Make House Hunting A Success!

May 16, 2022 | Posted by: Marc Crossman

House hunting is one of the most exciting parts of buying a home. Although, the current market is competitive, so you may have to put in more effort to find a home that makes sense f ...

10 Expert Tips for Staging Your Home to Sell

May 9, 2022 | Posted by: Marc Crossman

You are about to make a move to a home that better fits your lifestyle. Congratulations, it’s an exciting time! But before you can do that, you need to sell your home. The goal of any seller is ...

Edmonton Pilot Program to Help Homeowners With Green Upgrades

May 2, 2022 | Posted by: Marc Crossman

Edmonton residents can now access low-cost financing for eco-friendly home improvements through a new pilot program that is repaid through the applicant’s property tax bill. The C ...

Bank of Canada's Hidden Message on Interest Rates: This is Your Last Warning

March 14, 2022 | Posted by: Marc Crossman

Last week, the Bank of Canada made its first interest rate announcement of the year. Much to the surprise of economists and experts alike, the Bank of Canada chose not to raise interest rate ...

Digital Currencies are Becoming an Increasingly Common Payment Method

February 7, 2022 | Posted by: Marc Crossman

One in nine first-time homebuyers (11.6%) surveyed in the fourth quarter said selling cryptocurrency had helped them save for a down payment, according to a new report from Redfin, the technology-powe ...

Buying A House in 2022? Here Are 3 Challenges You Can Expect In The New Year

January 17, 2022 | Posted by: Marc Crossman

If you're serious about buying a home in 2022, here are the top three challenges you'll have to overcome. 1. Finding A Home This will be a challenge for two reasons. First, you ...

Start Preparing For Rising Rates

December 27, 2021 | Posted by: Marc Crossman

Ultra-low interest rates bolstered the Canadian real estate market throughout the COVID-19 pandemic, but Bank of Canada Governor Tiff Macklem is warning rates could start rising as easy as April. This ...

Edmonton's Condo Market Offers Buyers Among Best Value in Canada

December 6, 2021 | Posted by: Marc Crossman

According to John Carter, the broker/owner of Re/Max River City, Edmonton’s multi-family market is worthy of attention as hidden value gem for buyers’ dollars. See the full article ...

Canadians May Want To Prepare For Higher Mortgage Rates Soon: BMO

November 15, 2021 | Posted by: Marc Crossman

Canadian bond yields are on the rise, and a big bank has forecast it will take mortgages along for the ride as well. The latest research note from BMO focuses on climbing longer term bond yields. Th ...

REFINANCING IN 2018

March 1, 2021 | Posted by: Marc Crossman

Recently there were changes to the mortgage rules yet again, and one of the rule changes was regarding refinancing your home. At one point in the last 10 years you could refinance your home al ...

WHERE ARE MORTGAGE RATES GOING IN 2018?

February 22, 2021 | Posted by: Marc Crossman

2017 was a year of change for the Canadian Mortgage Market. With the announcement of the B-20 guideline changes requiring all insured or uninsured mortgages to undergo stress testing. ...

Mortgage insurance premiums hiked once again

December 16, 2019 | Posted by: Marc Crossman

CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17.“We do not expect the higher premiums to have a significant impact on the ability of Canadian ...

INTEREST RATES

October 14, 2019 | Posted by: Marc Crossman

Last week we touched on TD’s 0.15% move with existing variable rate mortgage clients. There is nothing new to add as TD remains the only lender to make such a move with variable rate client ...

MORTGAGE RULE CHANGES – OH HOW TIMES HAVE CHANGED

September 2, 2019 | Posted by: Marc Crossman

With the recent changes to the mortgage rules in Canada, we take a moment to look back at the evolution of the mortgage, and to highlight these new changes and what they mean. LO ...

Bikes For Kids 2016

August 26, 2019 | Posted by: Marc Crossman

Bikes for Kids was created by Dominion Lending Centres to provide underprivileged children with the joy of their first bike. Since 2014, Bikes for Kids has helped raise and dist ...

KNOW HOW YOUR MORTGAGE IS REGISTERED

July 22, 2019 | Posted by: Marc Crossman

Every mortgage secured by a property will be registered with the land title office.There are two ways your mortgage can be registered on title: Standard charge or collateral charge. Not ...

Changes To Down Payment Requirements Coming February 15, 2016

July 2, 2018 | Posted by: Marc Crossman

On Friday, Finance Minister Bill Morneau announced changes to down payment requirements. Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from five pe ...

Canadian Housing Statistics and Data

May 21, 2018 | Posted by: Marc Crossman

CMHC annual reports and monthly updates contain current and historical data on housing in Canada — new construction, new home prices and sales, rental statistics and the demographics of housing ...

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