by Justin da Rosa | 10 Jan 2017   With the release of the Bank of Canada’s most recent Business Outlook Survey came insights into the central bank’s policy position – and, indeed, the future of its benchmark rate. The outlook brought with it good news – but not enough to force the Bank of Canada to raise […]

The tightened mortgage rules introduced by the federal government last year are having a negative effect on the homebuying plans of first-time buyers. That’s the finding of a survey for the Ontario Real Estate Association by Ipsos Reid which says that 79 per cent of first-time buyers will delay buying due to the mortgage stress […]

Cooling house prices have done little for housing affordability; in fact, it’s getting worse. RBC says that owning a home in Canada in the third quarter of 2016 was the least affordable in nearly 8 years. Its Housing Trends and Affordability Report reveals that affordability declined for the sixth consecutive quarter. The rise in unaffordability […]

Did Prime go up? No. Did my Variable rate mortgage rate change? No, not unless your variable rate mortgage is with TD. So the Bank of Canada did not raise rates? No, in fact they are more likely to lower rates than increase them. But TD raised rates? Yes, but only by 0.15% and only […]

The nation’s largest network has entered a letter to acquire the mortgage software company. Dominion Lending Centres is expected close the deal “on or about” December 15 for an aggregate purchase price of $5.5 million. “We believe this transaction is a significant step forward for the DLC group of companies,” Gary Mauris, president of DLC, […]

Rarely has there been a more widely expected result as today’s 0.25 percent rate hike by the Fed. This is the second interest rate increase since the Fed started the current process of interest rate re-normalization one year ago. Although, many had called for additional hikes earlier this year, the policy makers held the overnight […]

The harsher stress test mandated by the new federal real estate measures will do more harm than good to the market, specifically to the younger consumer base. Montreal agent Thierry Lindor noted that fully 90 per cent of his clients at Remax l’Espace Griffintown who have withdrawn from the housing market are millennials. Lindor warned […]

To understand financing options for conventional borrowers – just ask me.  In October 2016 the Federal Government announced some significant changes to mortgage rules for high ratio borrowers.  Changes for high ratio mortgages took effect Oct 17th.  Changes for conventional borrowers took effect Nov 30th.  These changes will result in tighter guidelines to qualify for a […]

Citing recently collected data, the Canada Mortgage and Housing Corporation announced on Wednesday (November 30) that foreigners represented only a miniscule segment of home owners in the country’s most active markets, and thus could not be considered as the main driver of the outsized price growth in the Canadian real estate sector. The latest CMHC report noted […]

Latest statistics indicate that Canadians are currently carrying over $450 BILLION in consumer debt! Mortgage Brokers are often called in to help refinance someone’s home in order to repay credit card debts. With current low mortgage rates, it certainly is advantageous to pay off high interest unsecured debts in order to lower monthly carrying costs. Credit as […]