Renters Could Drive Increase in Canadian Homeownership

EditorAbout Mortgage Brokers, Agricultural Mortgages, Commercial Mortgages, FamilyLending.ca, First Time Home Owner, General Interest, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

According to a recent study conducted by TNS Canada, the nation’s housing market is expecting to see increased activity within the next two years. The online study, which was commissioned by TMG The Mortgage Group Canada, discovered that just under one third of Canadian renters are planning to buy real estate within the next two years. That amounts to a potential increase … Read More

“Price War” Prompts TD and RBC to Up Rates

EditorAbout Mortgage Brokers, FamilyLending.ca, General Interest, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

Canadian mortgage rates are on the rise again, reportedly thanks to “price-cutting” by some of the nation’s top banks. After briefly offering record-low rates of 2.99% on a 4-year fixed mortgage, both RBC and TD have raised rates by 40 basis points. The move comes rather unexpectedly; when the Royal Bank of Canada announced it was dropping their rates on … Read More

Understanding Canadian Covered Bonds

EditorGeneral Interest, Mortgage News, Mortgage Term, Mortgage Types

Covered bonds have long been a source of cost-efficient and secure financing for lenders. A staple of European financing for nearly 200 years, covered bonds first made their way onto the Canadian banking scene in 2007. Since then, Canadian covered bonds have helped to lower mortgage rates (indirectly) and have provided borrowers with additional financing options. So just what are these bonds … Read More

CMHC Backing Fewer Loans: A Look at the Repercussions

EditorAgricultural Mortgages, Commercial Mortgages, Mortgage Down Payment, Mortgage Insurance, Mortgage News, Residential Mortgages

Last week, The National Post reported on the Canadian Mortgage and Housing Corporation (CMHC) and their growing insurance load coverage. According to the story, the CMHC is edging closer to a $600-billion government-imposed limit on mortgage default insurance, backing nearly $541-billion in mortgages. If the demand grows for mortgage default insurance, the CMHC will need to request a limit extension … Read More

More Rules Rumoured for Hot Canadian Real Estate Market

EditorFinancial Tips, First Time Home Owner, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

The Government of Canada is considering imposing stricter rules on mortgages due to the nation’s seemingly overvalued housing market. Bank of Canada’s Governor, Mark Carney, and Finance Minister, Jim Flaherty, have been focused on the nation’s rising debt load for more than a year, stating that things must change in order to avoid serious economic repercussions. Ironically, instead of encountering … Read More