mortgage market News and Articles | My Blog
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.
... 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
Canada mortgage market crisis coming amid high rates?
6/13/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Could the prospect of persistently high rates spell trouble for the market’s stability?
... MoreCanada's big banks field more than 200,000 mortgage deferral requests
3/28/2020 | Posted in Canadian Economy and Housing Market by Paul DeAdder
Canada’s largest banks are fielding a deluge of requests to defer payments on mortgages as businesses suffer from efforts to curb the spread of the new coronavirus and ... More
Canadian mortgage debt growth continues unabated
10/10/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s ... More
23% of millennials justify lying on a mortgage application
9/16/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud.
... MoreCanadian mortgage borrowers have a 'rare opportunity'
9/6/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests.
... MoreWith fixed rates below variable ones, mortgage market is in the Upside Down
7/28/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate.
... MoreThe era of higher mortgage rates was short-lived
7/18/2019 | Posted in Mortgage Interest Rates by Paul DeAdder
Those renewing or about to renew their mortgages can breathe a sigh of relief: The era of higher interest rates appears to have been short-lived.
... MoreAlternative lenders increase share of slowing Canadian mortgage market: CMHC
7/17/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
An increasing number of homeowners turned to alternative lenders last year, while new mortgage growth reached its slowest pace in more than a quarter of a century amid ... More
Mortgage market suffers 'extended chill' says Equifax
6/17/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities.
... MoreMore mortgage rate cuts could be coming for Canadian homebuyers
6/11/2019 | Posted in Mortgage Interest Rates by Paul DeAdder
Canadian mortgage rates have already tumbled in recent months and more discounts could be on the way for homebuyers, a according to a new forecast.
... MoreBoC touts long-term mortgages to open MBS market
5/9/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ... More
5/6/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Goodbye, variable-rate mortgage. Everyone’s going fixed these days, and for good reason.
... More3/12/2019 | Posted in Canadian Housing Market by Paul DeAdder
Here are four record-breaking phenomena that suggest we have reached a real turning point in Canadian real estate.
... MoreMortgage growth has shrunk to 17-year low
2/5/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Residential mortgage growth rose 3.1 per cent to $1.55 trillion in December from a year earlier, the slowest pace since May 2001, and half the growth rate from two years ago, ... More
Big banks tighten grip on mortgage market after rule changes stifle competition
12/14/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
New B-20 rules have created an uneven playing field because stress tests don't apply to people renewing mortgages with their current lender
... MoreThe bond market is now sending a clear signal: Go with a variable-rate mortgage
12/6/2018 | Posted in Mortgage Interest Rates by Paul DeAdder
If you’re shopping for a mortgage and believe what the bond market is telling us, it implies your odds of success with a fixed rate may have just changed.
... MoreMortgage risks fading as Bank of Canada sees dramatic drop in highly indebted borrowers
11/14/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
The bank says stress tests and higher interest rates have reduced the share of new high-leverage, insured loans to six per cent from 20 per cent in late 2016.
... MoreInsured mortgage levels way down in 2018
11/5/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
Updated numbers from the Bank of Canada showed that the balance of insured mortgage debt suffered its largest decline in history.
... MoreExpect two rate rises in the next 3 months
10/5/2018 | Posted in Mortgage Interest Rates by Paul DeAdder
Homeowners could be facing two interest rate rises in the coming months according to an updated forecast by CIBC.
... MoreMortgages Soar For Canadians In Their 80s, 90s
9/20/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
With new mortgage rules and higher interest rates putting the squeeze on Canadian homebuyers, some have found a new approach: Get the parents (or grandparents) to bankroll your ... More
Mortgage growth slowed in Q2 says StatsCan
9/13/2018 | Posted in Real Estate News by Paul DeAdder
Canada’s mortgage industry saw slowing growth in the second quarter of 2018 as stress tests and rising interest rates made an impact.
... MoreThere were fewer new mortgages in 2017 CMHC data shows
8/15/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
There was a slight decline in the volume of new mortgage loans in 2017 according to an analysis of consumer credit data from CMHC.
... MoreGTA's borrowers are dumping traditional mortgages
6/26/2018 | Posted in GTA News by Paul DeAdder
A recent analysis showed the waning popularity of traditional mortgages among would-be home buyers in the Greater Toronto Area, with originations of traditional lenders (such ... More
Mortgage borrowing slides to lowest since 2014
6/14/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
Mortgage borrowing fell $2 billion to $13.7 billion in the first quarter of this year, the lowest level since the second quarter of 2014 according to Statistics Canada ... More
Mortgage rates are rising. Here's how you can save money
5/28/2018 | Posted in Mortgage Interest Rates by Paul DeAdder
Canada’s big banks are locked in a competitive pricing war over variable-rate mortgages, but economic trends point to more interest rate hikes ahead — leaving ... More
Higher interest rates add to home buyer struggles
5/16/2018 | Posted in Home Buyers by Paul DeAdder
First-time home buyers already struggling with more stringent mortgage rules have been dealt another blow by an increase this week in the Bank of Canada’s five-year ... More
Mortgage interest costs see biggest growth since 2009
4/27/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
Latest data from Statistics Canada showed that mortgage interest costs increased by 2.8% in March, representing the biggest rise since April 2009.
... MoreNo new regulations, drastic home price increases in 2018
1/4/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
By all indications, 2017 has proven to be a tumultuous period in the mortgage and real estate spheres, but a markets observer argued that this year will offer a measure of ... More
