Mortgages

Mortgages

How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada?

How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada? The last few years have brought great change to the Canadian housing market, primarily due to the most recently implemented mortgage rules that were put in place. While these changes and rules have been put in place as an attempt to protect [...]

By | 2018-10-10T22:31:19+00:00 October 10th, 2018|Mortgage Rules, Stress Test|Comments Off on How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada?

Your mortgage is about to get more expensive

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in [...]

By | 2018-01-20T15:41:38+00:00 January 20th, 2018|Economy|Comments Off on Your mortgage is about to get more expensive

Jim Flaherty Receptive to the idea of ending CMHC

The International Monetary Fund recently suggested that Canada should consider winding down government backing of mortgages — and Finance Minister Jim Flaherty is sounding receptive to the idea. Ending or limiting the activities of Canada Mortgage and Housing Corp., the government-run mortgage insurer, would certainly rock the country’s real estate business to the core, as [...]

By | 2017-01-04T01:02:18+00:00 December 12th, 2013|Economy|Comments Off on Jim Flaherty Receptive to the idea of ending CMHC

Thirty-year Mortgages

Canada’s banking regulator is still monitoring 30-year mortgages, the head of Canada’s financial regulator told a conference of mortgage brokers in Toronto on Monday. In recent years there has been a shift in the marketplace, with lenders offering more 30-year amortizations, and that’s something that the regulator is studying, Julie Dickson, the head of the [...]

By | 2017-01-04T01:02:18+00:00 November 26th, 2013|Economy|Comments Off on Thirty-year Mortgages

Is refinancing right for you?

There are numerous reasons why homeowners choose to refinance their mortgages - everything from debt consolidation to freeing up money for their child's education to using their home equity to buy another property. But the most popular reason for refinancing at this time of year is for holiday gift buying and entertainment. Planning ahead really [...]

By | 2013-11-19T06:16:15+00:00 November 19th, 2013|Mortgage Tips|Comments Off on Is refinancing right for you?

Reduce mortgage penalties

A few quick tips to reduce mortgage penalties. You bought your house a few years ago at an interest rate of 5%.  Now everywhere you look banks and credit unions are offering rates of 3% and below on fixed-rate mortgages. You’ve decided it’s time to get a better deal, but when you speak to your [...]

By | 2017-01-04T01:02:19+00:00 October 29th, 2013|Mortgage Tips|Comments Off on Reduce mortgage penalties

Why no rate hike means variable mortgages are safe again

A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going. There have been signs the housing market is in recovery mode with year-over-year sales rising in many markets, [...]

By | 2017-01-04T01:02:19+00:00 October 25th, 2013|Mortgage Products|Comments Off on Why no rate hike means variable mortgages are safe again

NO HOUSING BUBBLE

Finance Minister Jim Flaherty said he isn’t planning new measures to restrain the country’s housing market because his past four rounds of action have already worked to avoid a bubble. Flaherty has warned consumers to avoid mortgages that could become unaffordable when borrowing costs rise, after Canadians took on record household debts relative to disposable [...]

By | 2017-01-04T01:02:25+00:00 August 22nd, 2013|Economy|Comments Off on NO HOUSING BUBBLE

Flaherty moves to tighten CMHC supervision

Ottawa moved to bring the Canada Mortgage and Housing Corporation under the purview of the country's top financial regulator Thursday. Finance Minister Jim Flaherty outlined the proposed changes to Canada's national housing agency in a wide-ranging bill tabled in parliament on Thursday. The CMHC insures the vast majority of Canadian mortgages, as well as guaranteeing [...]

By | 2017-01-04T01:02:29+00:00 April 26th, 2012|Economy|Comments Off on Flaherty moves to tighten CMHC supervision

Lender offers investor new Home Equity Lines of Credit

 ING will move this month to register all new mortgages as collateral charge, following on the heels of TD and some other lenders.   The change is set to take effect on Dec. 10, 2011, with the bank to make a formal announcement to the broker channel later this week.  The switch comes as the [...]

By | 2017-01-04T01:02:30+00:00 December 7th, 2011|Mortgage Products|Comments Off on Lender offers investor new Home Equity Lines of Credit