mortgages and real estate News and Articles | My Blog
Canada's coming mortgage renewal wave: No longer a crisis?
12/17/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
It was billed as a potential looming crisis for Canada’s economy: the wave of mortgages coming up for renewal in 2025 and 2026 at significantly higher rates than those on ... More
By how much could the Bank of Canada cut rates in December?
11/26/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Bank of Canada (BoC) is preparing for its final rate announcement of 2024 on December 11, with economists anticipating a potential further reduction in its lending rate ... More
OSFI's stress test change sparks industry confusion
11/29/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most ... More
Canada's banking regulator loosens mortgage stress-test rules. Who will benefit?
11/25/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders.
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Canada's mortgage renewal wall: A 'headwind' but not a crisis
11/14/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
BMO economist predicts homeowners can absorb higher mortgage rates
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Bank of Canada says changes to mortgage structure will not resolve housing affordability
11/6/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on ... More
CMHC says risks remain in mortgage market as delinquencies creep up
11/4/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being ... More
Canadian homeowners consider switch to variable rate mortgages after big rate cut
10/24/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, ... More
Rate drops help boost housing affordability: RBC
10/9/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall ... More
Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?
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Supply in Canada's property market surges as mortgage renewals loom
7/17/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More
Interest rate cut hasn't led to rush of homebuyer demand yet: Royal LePage report
7/11/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest ... More
Bank of Canada officials worry that rate cuts may overheat the housing market
6/19/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially ... More
Bank of Canada considered waiting until July to cut interest rates
6/19/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ... More
Residential mortgage debt hits $2.16 trillion amid slowest growth in 23 years: CMHC
5/29/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More
Bank Regulator in Canada Warns of Housing-Payment Shock by 2026
5/22/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans ... More
OSFI announces new stress test for uninsured mortgages
4/16/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian regulator cracks down on high-debt mortgages to protect borrowers
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Variable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
Under-35 households lead the way in reducing mortgage debt, StatCan reports
1/25/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
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2024 housing market and interest rate forecasts
12/27/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that ... More
