mortgages and real estate News and Articles | My Blog
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.
... More2024 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
Latest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.
... MoreMortgage deselection: Can your lender choose not to renew your mortgage?
12/11/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
In its third-quarter earnings call, Scotiabank said it was undertaking a strategy of “customer deselection at renewal” as part of its efforts to slow its mortgage ... More
Overview of housing initiatives in the government's Fall Economic Statement
11/21/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More
Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
11/23/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.
... MoreMortgage market risks rising in high-rate environment: CMHC
11/15/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon
... MoreNew mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages ... More
Most Canadian mortgage holders facing big payment shock: RBC
10/31/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More
Mortgage renewals could cause severe downturn
10/7/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated.
... MoreMortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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
New report examines how rising interest rates have impacted home prices in Canada
8/6/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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 ... More
What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.
... MoreWhat mortgage owners need to know about the Bank of Canada's rate hike
7/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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 ... More
Struggling mortgage holders could see lenders waive fees under new guidelines
7/6/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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 ... More
How risky is it to extend Canadian mortgage amortizations?
6/27/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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
Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says
6/22/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
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
CMHC chief: Longer amortizations will not ensure housing affordability
6/20/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Policymakers can take more concrete steps to alleviate consumer worries, national housing agency head says
... MoreFixed mortgage rates surge again, pushing rates under 5% to the brink
6/16/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.
... More