9/14/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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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

Mortgage interest costs now up over 80% since the start of the BoC's rate hikes

  8/6/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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With the Bank of Canada’s interest rate hikes aimed at fighting inflation, the housing market in Canada experienced a slight drop in prices, according to a new report from ... More

New report examines how rising interest rates have impacted home prices in Canada

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

What impact might OSFI's new proposals have on borrowing costs?

  7/13/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher ... More

What mortgage owners need to know about the Bank of Canada's rate hike

  7/6/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of higher ... More

Struggling mortgage holders could see lenders waive fees under new guidelines

  6/27/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ... More

How risky is it to extend Canadian mortgage amortizations?

  6/22/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ... More

Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says

  6/20/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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Policymakers can take more concrete steps to alleviate consumer worries, national housing agency head says ... More

CMHC chief: Longer amortizations will not ensure housing affordability

  6/16/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory. ... More

Fixed mortgage rates surge again, pushing rates under 5% to the brink

  5/31/2023 | Posted in Mortgages and Real Estate by Kelly Healy
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While a large number of mortgage holders have seen their monthly payment rates jump over the past year due to rising interest rates, the Bank of Canada (BoC) says the impact could ... More

Monthly Mortgage Payments Could Spike 20-40% Over Next 3 Years: Bank of Canada

  4/17/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Canadian banks have processed 670,000 mortgage deferrals in first month

  4/4/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic deepens, ... More

Canada's big banks field half a million mortgage deferral requests

  3/26/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Canada beefs up liquidity plan with expanded mortgage guarantee ... More

CMHC expands Insured Mortgage Purchase Program

  3/5/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that. ... More

What the Bank of Canada rate cut means for mortgages

  2/27/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More

Changing the stress test may raise credit risk for banks says Fitch

  2/19/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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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

OSFI considering new benchmark rate for uninsured mortgages

  2/18/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Ottawa changing stress test rate for insured mortgages starting April 6. ... More

Morneau unveils new insured mortgage stress test rate

  1/22/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy. ... More

Bank of Canada Holds Rates, Shows Less Confidence in Outlook

  1/22/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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The current lending rules in Canada are geared towards shorter-mortgage terms ... More

Why longer-term mortgages could be beneficial

  1/17/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics. ... More

Ultra-low Rates Will Persist: RBC

  1/8/2020 | Posted in Mortgages and Real Estate by Kelly Healy
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Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

  10/10/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s central ... More

Canadian mortgage debt growth continues unabated

  9/25/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Employment figures had a major influence on the market's dynamics. ... More

Low interest rates are the market's lifeline during tougher times

  9/19/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well. ... More

More Fed cuts expected to push Canadian interest rates lower

  9/16/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud. ... More

23% of millennials justify lying on a mortgage application

  9/6/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests. ... More

Canadian mortgage borrowers have a 'rare opportunity'

  8/10/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes. ... More

Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

  7/28/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate. ... More

With fixed rates below variable ones, mortgage market is in the Upside Down

  7/21/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years. ... More

Central bank qualifying rate used in mortgage stress tests falls

  7/18/2019 | Posted in Mortgages and Real Estate by Kelly Healy
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The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp. ... More

OREA calls for relaxed mortgage rules

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