6/30/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available ... More

Mortgage Rates Keep Setting New Record Lows

  6/12/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Many Canadians will attempt to purchase new homes before the adjusted rules take effect on July 1.

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CMHC's new rules will spur heightened home-buying activity

  5/12/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The coronavirus has plunged market activity into a deep freeze

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New mortgages to decline considerably in the near-term: TD Economics

  4/17/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Canadian banks have processed 670,000 mortgage deferrals in first month

  4/4/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic ... More

Canada's big banks field half a million mortgage deferral requests

  3/26/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Canada beefs up liquidity plan with expanded mortgage guarantee

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CMHC expands Insured Mortgage Purchase Program

  3/5/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that.

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What the Bank of Canada rate cut means for mortgages

  2/27/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More

Changing the stress test may raise credit risk for banks says Fitch

  2/19/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for ... More

OSFI considering new benchmark rate for uninsured mortgages

  2/18/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Ottawa changing stress test rate for insured mortgages starting April 6.

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Morneau unveils new insured mortgage stress test rate

  1/22/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy.

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Bank of Canada Holds Rates, Shows Less Confidence in Outlook

  1/22/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The current lending rules in Canada are geared towards shorter-mortgage terms

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Why longer-term mortgages could be beneficial

  1/17/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics.

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Ultra-low Rates Will Persist: RBC

  1/8/2020 | Posted in Mortgages and Real Estate by Eileen Farrow
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Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

  10/10/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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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

Canadian mortgage debt growth continues unabated

  9/25/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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Employment figures had a major influence on the market's dynamics.

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Low interest rates are the market's lifeline during tougher times

  9/19/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well.

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More Fed cuts expected to push Canadian interest rates lower

  9/16/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud.

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23% of millennials justify lying on a mortgage application

  9/6/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests.

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Canadian mortgage borrowers have a 'rare opportunity'

  8/10/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes.

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Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

  7/28/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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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.

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With fixed rates below variable ones, mortgage market is in the Upside Down

  7/21/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years.

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Central bank qualifying rate used in mortgage stress tests falls

  7/18/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp.

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OREA calls for relaxed mortgage rules

  7/17/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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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

Alternative lenders increase share of slowing Canadian mortgage market: CMHC

  6/11/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices.

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Regulator defends mortgage stress test in face of pushback from industry

  5/31/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Canada Revenue Agency has identified over a $1 billion in unpaid gross taxes in the real estate sector since 2015 and has doled out over $100 million in penalties.

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CRA identifies over $1b in tax evasion since 2015

  5/9/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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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

BoC touts long-term mortgages to open MBS market

  5/1/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The Canadian government should consider being flexible on its new mortgage lending rules because the impact has been longer-lasting and more significant than expected, ... More

Scrapping Mortgage Rules Would Boost Canadian Home Prices, TD Says

  4/25/2019 | Posted in Mortgages and Real Estate by Eileen Farrow
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The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage.

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Self-employed increasingly turning to private lenders for mortgages
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