Bank of Canada Confirms Ultra-Low Mortgage Rates Are Here to Stay

Robb NelsonMortgage Talk Canada

By David Larock Last Wednesday the Bank of Canada (BoC) announced that it would hold its policy rate steady, as was universally expected. In its policy statement, the Bank offered an updated assessment of the state of our recovery, and, by association, indicated where our mortgage rates are likely headed over the short and medium term. Let’s start with a quick review … Read More

CMHC says impact of pandemic is starting to emerge

Robb NelsonMortgage Talk Canada

But the crown corporation says it is well-placed to deal with the increase in insurance claims By Steve Randall The Canadian housing market has shown incredible resilience despite the challenges of the pandemic but the impact on homeowners will only become clear in the months ahead. As government support programs come to an end, there are concerns that mortgage defaults may increase as … Read More

Properly offers “buy now, sell later” program for home shoppers

Robb NelsonMortgage Talk Canada

by Ephraim Vecina Real estate technology firm Properly is offering homeowners who are looking to change properties the opportunity to buy first, and then sell their old homes later at a guaranteed price. The program, a cooperative venture with the Canadian Imperial Bank of Commerce, will be initially available only in Toronto, although an Ottawa roll-out is also in the works. … Read More

What can Canadians expect when CERB becomes EI?

Robb NelsonMortgage Talk Canada

by Clayton Jarvis There were few fireworks on July 31, when Prime Minister Justin Trudeau announced that out-of-work Canadians who have been receiving the Canada Emergency Response Benefit due to COVID-19-related job disruption would be transitioned to the country’s employment insurance program this fall. CERB is set to expire on September 26, but anyone who began receiving payments once the program got underway … Read More

Even amid pandemic, the northern housing market is hotter than ever, say realtors

Robb NelsonMortgage Talk Canada

The real estate market has an ever-rising temperature despite doomsday predictions By: John Last, Katie Toth When Vanessa Thorson bought her duplex in Whitehorse’s Takhini neighbourhood in 2015, it cost her just $285,000. Three years later, she moved to Alberta and sold it for $305,000. But when she returned just 18 months later, in the fall of 2019, she says … Read More