by Bloomberg 12 Apr 2021 by Ari Altstedter Almost as soon as it was announced, the Canadian government’s first attempt to rein in the country’s pandemic housing boom was dismissed as not enough. Canada’s banking regulator signalled its intent Thursday to take a small step by tightening qualification rules for uninsured mortgages, worried that low interest rates will put new home buyers too … Read More
From Equifax Canada – Newsroom Honesty is the best policy when it comes to a home purchase, a message that appears to be getting through to most Canadians, according to a recent Equifax survey on mortgage fraud. Less than half (45 per cent) of survey respondents, however, trust their broker to complete necessary forms on their behalf, 29 per cent … Read More
By Ephraim Vecina, Mortgage Broker News Canada While Canada’s overall consumer debt climbed to $2.07 trillion in Q4 2020 (up 4.1% annually) due to increased mortgage activity, per capita consumer debt actually declined amid reduced spending activity, according to Equifax. The average consumer debt, excluding mortgages, fell by 3% year over year to end up at $23,043, “primarily due to credit … Read More
Head here to see the list of finalists: Canadian Mortgage Awards | Winners & Finalists 2021. Winners to be announced April 29, 2021. Follow the Canadian Mortgage Awards using the hashtag #MortgageAwardsCA.
by Ephraim Vecina, Mortgage Broker News Amid its ongoing commitment to maintain its quantitative easing program, the Bank of Canada has reported its first ever monthly decline in the amount of Canada Mortgage Bonds (CMBs) held by the institution. The central bank’s data showed that it held $9.66 billion in CMBs at the end of December, falling by 0.65% from November … Read More