mortgage renewals 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
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.
... MoreCanada'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
... MoreHomeowners won't face mortgage stress test if renewing with new lender: OSFI
9/26/2024 | Posted in Home Owners by Paul DeAdder
Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress ... More
Preparing for your mortgage renewal: Tips to ease the stress of higher payments
8/13/2024 | Posted in Mortgage Advice by Paul DeAdder
Millions of Canadian homeowners are facing mortgage renewals in the coming years, with many feeling stressed as they prepare for higher payments amid persistently elevated ... 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
Mortgage 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
Mortgage 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
... MoreUpcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem
11/1/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... 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
OSFI seeing a deterioration in credit quality, says borrowers to face challenges at renewal
10/12/2023 | Posted in Home Owners by Paul DeAdder
Canada’s banking regulator says the sustained increases in interest rates over the past 18 months have challenged some borrowers’ ability to pay and led to a ... 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.
... MoreLatest in mortgage news: Mortgage rates keep surging higher
9/29/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise.
... MoreFixed rates back as top mortgage product of choice: National Bank
8/23/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon.
... MoreHow 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
6/6/2023 | Posted in Interest Rates by Paul DeAdder
After hitting pause on rates, growing speculation the bank is ready to hike again
... 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.
... MoreMortgage 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.
... MoreBig 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
... More