Consumer Mortgage: April 2018

Monday, 30 April 2018

Jumping mortgage rates will further tighten the debt vise for Canadians

Canada is entering its busy season for real estate, with purchases concentrated in the April to July window. Some 47 per cent of existing mortgages need to be refinanced this year versus 25 per cent to 35 per cent typically, according to Ian Pollick, head of North American rates strategy at Canadian …

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Business Report: What’s behind rising mortgage rates

Business Report: What’s behind rising mortgage rates. Several major Canadian banks have raised mortgage rates. 680 NEWS business editor Richard Southern with why, and what it means for homeowners. Meanwhile, there’s a new trend looking to the dinner plate for inspiration when it comes to baby …

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First-timers plagued by fears over home-buying process

More than seven in 10 Canadian first-time home buyers (71 per cent) are afraid that they’ll be hit by unanticipated costs during the process, according to … the purchase price and down payment, such as appraisal fees (49 per cent), mortgage default insurance (47 per cent) or closing costs (41 per cent).

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Groundbreaking for the Résidence Meilleur du Haut-Pontiac in L’Isle-aux-Allumettes

The groundbreaking was marked by William Amos, Member of Parliament for Pontiac, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation; André Fortin, Minister of Transport, …

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Canadians to begin feeling pinch from increasing mountains of debt, analysts say

The tireless ability of Canadians to shoulder an ever-increasing mountain of debt is being tested. The country’s biggest banks began raising key borrowing rates last week, just as the busy season for residential real estate gets underway. In addition, the mortgage market looks set for a particularly heavy …

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Ontario signs bilateral agreement under the National Housing Strategy

Families and vulnerable Canadians in need of an affordable place to call home can count on long-term funding for community housing in Ontario. The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing …

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New mortgage rules will drive first-time buyers to condos: Royal LePage

Phil Soper, president and CEO of Royal LePage, joins BNN to talk about the strength of the condo market amidst signs of slowdown in other Canadian housing segments. The condo segment grew 14.3 per cent year-over-year in Q4, the fastest of all housing types.

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1 Top Bank Stock to Benefit From an Improving US Economy

It hasn’t been all plain sailing for Canada’s banks. A saturated mortgage market, slowing housing market, increased regulations, and heavily indebted households are all poised to weigh on growth. That has garnered considerable negative attention for the major banks, including Canada’s …

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Prominent hedge fund manager says ‘$300 oil is not impossible’

Some 47 per cent of existing mortgages need to be refinanced this year versus 25 per cent to 35 per cent typically, according to Ian Pollick, head of North American rates strategy at Canadian Imperial Bank of Commerce in Toronto.” “Jumping Mortgage Rates Further Tighten Debt Vise for Canadians” – …

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Canadian House Prices Aren’t Really Falling: Desjardins

Home sales in Canada have slowed markedly in recent months, following the introduction of new mortgage rules, but prices aren’t actually falling — not yet … “This drop in property value could have a major impact on the housing market and the Canadian economy in general,” he wrote in a report Friday.

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TSX expected to be back up and running Monday morning

TSX expected to be back up and running Monday morning. The TSX should be back to normal after Friday’s hardware failure, Canadian big banks raise mortgage rates and a huge week on the earning’s calendar. 680 NEWS senior business editor Mike Eppel with the day’s top business headlines.

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What to Do as Mortgage Rates Are On the Rise?

For many millennials, or those looking to become homeowners for the first time, the interest rate one will receive on the mortgage they lock in today can play a huge role in determining the state of one’s household finances for years to come. Given new stress tests put in place by Canadian regulators …

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TD Bank becoming corporate member of Canadian Cybersecurity Institute

TD Bank becoming corporate member of Canadian Cybersecurity Institute … FREDERICTON – The TD Bank Group has become the first Canadian bank to join the Canadian Institute for Cybersecurity – a centre for cyber … TD Bank raises 5-year posted mortgage rate, Royal Bank also upping rate.

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Hike in RBC Mortgage Rate Are Bad News For Canadian Borrowers and Facing

Hike in RBC Mortgage Rate Are Bad News For Canadian Borrowers and Facing ‘Stress Test’. TORONTO — Two of the biggest banks of Canada are raising all of their benchmark rates for 5 year, fixed-rate mortgages price. According to TD Bank, as of Wednesday this bank increased its rate for the 5 …

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The US Fed Thinks Canadian Real Estate Buyers Are “Exuberant,”

CMHC Finally Says Vancouver Is Too Expensive For Local Incomes. Toronto Overvalued. The Crown corp in charge of mortgage liquidity is sounding alarm bells in a few markets. The CMHC is warning Toronto and Vancouver are seeing the cheapest units rise in price, while higher priced units are …

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TD Bank raises mortgage rates amid record-high bond yields

Toronto-Dominion Bank has lifted its posted rate for five-year fixed mortgages by 45 basis points to 5.59% as government bond yields touched their highest levels since 2011 last week. Canada’s second-largest lender also increased its two-year, three-year, six-year, and seven-year mortgage rates, bank …

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Sunday, 29 April 2018

Five things to watch for in the Canadian business world in the coming week

… Canada releases the latest gross domestic product report from February on Tuesday. The previous report for January showed that the Canadian economy contracted 0.1 per cent, hurt by unscheduled maintenance shutdowns in the oilpatch and weakness in the real estate sector following mortgage …

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2 Top Dividend Stocks to Stash in Your TFSA

Short sellers love CIBC stock due to the size of its mortgage lending, which is the largest among the top Canadian lenders. It has more uninsured mortgages in Toronto and Vancouver — Canada’s two hottest real estate markets — than any other bank. But the Canadian real estate market is stabilizing …

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2 Real Estate Stocks for Investors Seeking Value

Here are two dividend stocks you can consider to get some exposure to Canada’s strong real estate market. First National Financial Corp. (TSX:FN) · First National is a monthly dividend stock that’s offering value to long-term investors. With more than $100 billion in mortgages under administration, First …

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1 Top Stock to Diversify Into Emerging Markets

Demand for credit, particularly consumer credit, is expanding at a rapid clip in those Latin American nations, and this will further boost Scotiabank’s earnings. The ongoing expansion into Latin America also reduces the bank’s dependence on Canada’s saturated mortgage and financial services market, …

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Saturday, 28 April 2018

Why did mortgage rates just surge?

Looking further out, Canada’s five-year government bond yield will dictate the path of fixed mortgage rates. And right now, we’re at an inflection point with the five-year yield recently hitting its highest level in almost seven years. There’s a good chance yields could keep climbing since they’re guided by …

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Community celebrates opening of Merchants Corner on Selkirk Avenue

Kevin Lamoureux, Member of Parliament for Winnipeg North on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), the Honourable Scott Fielding, Minister of Families …

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3 Dividend Stocks to Stash in Your TFSA in May

Genworth MI Canada is an Oakville-based private residential mortgage insurer. Canadian housing has struggled in 2018, suffering under the weight of rising rates and new regulations. CMHC said recently that the Canadian housing market remains “highly vulnerable,” especially in major metropolitan …

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2 biggest banks of Canada raise their fixed mortgage rates

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Friday, 27 April 2018

Business Report: Mortgage rates going up at several Canadian banks

Business Report: Mortgage rates going up at several Canadian banks. Mortgage rates are on the rise at several of Canada’s big banks. And, move over 4K! 8K television technology is on the way. 680 NEWS business editor Kris McKusker with the details. Apr 27, 2018, 5:41 PM. Advertisement. Life.

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Evening Update: A historic summit and a promise of peace

RBC hikes mortgage rates, joining TD. Royal Bank of Canada is raising the posted rates on some of its fixed-rate mortgages, becoming the second big bank this week to make adjustments after sharp increases in government bond yields. RBC confirmed that it is raising rates on its one- to four-year …

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TD and Royal Bank raising mortgage rates

TORONTO — Two of Canada’s biggest banks are raising their benchmark rates for five-year, fixed-rate mortgages. TD says as of Wednesday it increased its posted rate for five-year fixed mortgages to 5.59 per cent from 5.14 per cent. Mortgage planner and rate comparison website founder Robert …

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RBC hikes mortgage rates, joining TD

Royal Bank of Canada is raising the posted rates on some of its fixed-rate mortgages, becoming the second big bank this week to make adjustments following sharp increases in government bond yields. RBC confirmed that it is raising rates on its one-to-four year mortgages by 15 basis points. It is also …

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TD, RBC raising five-year posted mortgage rates

Two of Canada’s biggest banks are raising their benchmark rates for five-year, fixed-rate mortgages. TD says as of Wednesday it increased its posted rate for five-year fixed mortgages to 5.59% from 5.14%. Mortgage planner and rate comparison website founder Robert McLister says the increase is …

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Toronto-Dominion Bank lifts mortgage rate in ‘biggest move in years,’ RBC follows suit

Canada’s big banks are charging their preferred customers with sound credit quality 3.39 per cent for five-year fixed mortgages and 2.75 per cent for variable mortgages this month, according to RateSpy.com. That’s little changed from late January. Canada’s housing market has been on a wild ride.

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The State of Mortgage Consumers + MORE Apr 27th

Mortgage consumer debt reached a record level in the second quarter of 2017, yet mortgage holders have proven capable of managing their increasing monthly obligations. That’s according to CMHC’s recently released Mortgage and Consumer Credit Trends report, which said Canadian households’ …

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TD Bank raises 5-year posted mortgage rate, Royal Bank also upping rate

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TD hikes 5-year posted mortgage rate to 5.59%

Fixed-rate mortgages are tied to what’s happening in the bond market, and bond yields in Canada and the U.S. are near multi-year highs right now, which is why banks are passing those added costs on to consumers. “We look at a number of factors when determining rates including the competitive …

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Canadian mortgage rates are going up yet again

TD Bank, Canada’s second largest lender, has raised its rate for five-year fixed mortgages by a whopping 45 basis points to 5.59 percent, making it one of the biggest mortgage rate increases by a major Canadian bank in the last few years. In an emailed statement to Bloomberg News, TD Bank …

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Trump is unwinding bank regulations. Here’s why Canadians should worry

Today’s widespread European xenophobia can be directly traced to the scapegoating of immigrants by victims of that protracted recession, caused in fact by the collapse of a record U.S. housing bubble inflated by malfeasant mortgage lenders in Kansas and Bakersfield, California. It’s not too soon to …

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Toronto-Dominion Bank Raises Its Five-Year Fixed Mortgage Rate To 5.59%

Toronto-Dominion Bank has lifted the posted rate for its five-year fixed mortgage by 45 basis points to 5.59% — the first significant mortgage rate increase among Canada’s big lenders. Toronto-Dominion, Canada’s second-largest bank lifted its five-year closed rate along with increases to its two-year, …

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TFSA Bargain Hunters: Why it’s Time to Load Up on Toronto-Dominion Bank Before the “Sale” Ends

… but TD Bank has one of the best risk-management strategies out there, making it better insulated from a single point of failure (like a Canadian housing collapse) than many of its peers in the Big Six. TD Bank has also been one of the most conservative lenders out there, so newly announced mortgage …

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Canadian housing market still “highly vulnerable” warns CMHC

Canada’s housing market remains a large risk for the seventh consecutive quarter according to the latest report from the CMHC. Its Housing Market Assessment for the three months to the end of March 2018 highlights evidence of overvaluation and price acceleration, especially in Toronto, Vancouver, …

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Why the Bank of Canada Overnight Rate Remains Steady

The announcement was not a surprise given the recent uncertainty surrounding Kinder Morgan and the Trans Mountain Pipeline expansion along with a slowing housing market. The bank noted that Canada’s economic growth slowed more than expected after stricter mortgage qualification guidelines …

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BNN’s Daily Chase: Freeland skips NATO summit for NAFTA; Amazon’s Amazon’s Q1 blowout

All the yield talk lately is having some main street impact, as evidenced by Toronto-Dominion Bank’s move this week to jack up its posted fixed mortgage rates. Pattie will apply her personal finance expertise to the move and we’ll also address the implication for housing markets. AECON DEFENDS ITS …

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Former Tory leader Patrick Brown breached integrity rules: Watchdog

“I accept the reprimand and apologize for not disclosing my limited rental income and temporary secondary mortgage,” he wrote. “Glad this matter is now closed.” Wake’s decision also revealed that Brown, who is still a sitting member of Ontario’s legislature, has a new job. The integrity commissioner said …

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Thursday, 26 April 2018

Why affordable child care is essential to keeping women in tech

Add in mortgage payments and a car and suddenly I’m paying money to go to work. Fees in major cities … How are women to lead in tech and boardrooms across all sectors if Canadian child-care costs are rising faster than inflation and accompanied by two-year-long waiting lists? There are numerous …

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How Much Home Can Canadian Peak Millennials Afford in Montreal?

A recent report by Royal LePage compares average income for Canadians aged 25 to 31 (peak millennials) with property prices across the country. Peak millennials in Canada earn $38,148 a year on average, which would allow them to qualify for a loan of just over $200,000 under the new mortgage …

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USD/CAD – Canadian Dollar Still Doing Well on Crosses

Banks approved 37,567 mortgages for house purchase last month, down from 38,035 in February and 10% less than in March 2017. There was a rising trend in mortgage approvals for the first three months of 2018 although the number is slightly lower than the same period in 2017. Seasonally adjusted …

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Canada’s housing sector still highly vulnerable to market instability: CMHC

Canada’s housing sector is facing a high degree of vulnerability to market instability for the seventh straight quarter, with Toronto, Hamilton, Vancouver and Victoria shouldering the brunt of the risks. That’s according to the Canada Mortgage and Housing Corp., which analyzed overheating, acceleration …

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Patrick Brown breached ethics laws, investigation concludes

(Christopher Katsarov/Canadian Press). Former Ontario PC leader Patrick … Brown responded to the findings on Twitter Thursday, in which he accepted the reprimand and apologized for not disclosing what he called his “limited rental income and temporary second mortgage.” I thank the Honourable J.

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Canada’s housing market still ‘highly vulnerable,’ CMHC says

… CMHC says. High prices getting even higher in places like Toronto, Vancouver, Victoria and Hamilton are making Canada’s national housing market ‘highly vulnerable,’ the CMHC said Thursday. … Overvaluation: Prices are higher than incomes, mortgage rates and other fundamentals can justify.

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Canada’s housing industry is still highly vulnerable to market instability: CMHC

TORONTO — For the seventh straight quarter, the Canada Mortgage and Housing Corporation says the country is facing a high degree of vulnerability to market instability. The Crown corporation says Toronto, Hamilton, Vancouver and Victoria are of the most concern because of overvaluation and …

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CMHC Finally Says Vancouver Is Too Expensive For Local Incomes. Toronto Overvalued

Canadian real estate is still highly vulnerable, according to the latest assessment from Canada’s largest Crown Corporation. The Canada Housing and Mortgage Corporation (CMHC), the government backed org in charge of overseeing mortgage liquidity, released a new market assessment today.

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Overvaluation and price acceleration keep Canada’s overall housing market highly vulnerable for …

… market overall remains highly vulnerable for the seventh consecutive quarter mainly due to evidence of overvaluation and price acceleration observed in Census Metropolitan Areas such as Toronto, Vancouver, Victoria, and Hamilton, according to Canada Mortgage and Housing Corporation (CMHC).

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Knowing what to expect eases first-time homebuying fears

A new survey by TD reveals that more than half (56 per cent) of Canadian first-time homebuyers are anxious and afraid that they’ll forget to take a crucial step as they gain … Take time to consider the many costs and steps associated with homebuying – from appraisal fees to mortgage default insurance.

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Amazon Effect: Greater Toronto Would See Only Modest Rent Boost from HQ2

“While Toronto – along with much of urban Canada – is certainly struggling with housing affordability challenges, it has shown a unique capacity to …. For Toronto, Zillow used data on rents and population growth from the Canada Mortgage and Housing Corporation (CMHC) and Statistics Canada.

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BNN’s Daily Chase: Facebook eases investor worries with Q1 beat; Enbridge holds strong on Line 3

-12:00 p.m. ET: Canada Mortgage and Housing Corporation releases Housing Market Assessment. -12:30 p.m. ET: Innovation Minister Navdeep Bains makes announcement in Ottawa on Canada’s intellectual property strategy. -6:00 p.m. ET: Brian Mulroney speaks in Toronto at Rotman event tied to …

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Mudda-USA-Harman-Singh-CEO-Omni-Mortgage

Gallery · PTC Canada Live · Our Team · Punjabi News · Alberta · British Columbia · Manitoba · New Brunswick · Newfoundland and Labrador · Nova Scotia · Ontario · Prince Edward Island · Quebec · Saskatchewan. Breaking News. [ April 25, 2018 ] ‘We don’t want to rush this,’ coroner says of painstaking …

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Many Canadian millennials forced into starter homes

New mortgage stress tests are lowering millennials’ purchasing power, forcing some to lower expectations before entering the housing market. The Royal LePage report says the average millennial has a budget of just over $200,000, but that’s a third of the average Canadian home price. Realtor Dawn …

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Spring Clean for a Good Cause: 10th Annual National Garage Sale for Shelter Returns on May 12

The National Garage Sale for Shelter is made possible with the support of its national sponsors: TD Canada Trust, Mobile Mortgage Specialists (National Presenting Sponsor), Atlas Van Lines Canada (In-kind Moving and Transportation Sponsor), Genworth Canada (Supporting Sponsor) and Kaiser …

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Canada: BC Passes Legislation To Modernize International Commercial Arbitration Act

More Popular Related Articles on Litigation, Mediation & Arbitration from Canada. Ontario Court Of Appeal Summaries (April 9 – April 13, 2018 ). Blaney McMurtry LLP. In Nodel v. Stewart Title Guaranty Company, 2018 ONCA 341, the title insurer, Stewart Title, sought to avoid coverage for a mortgage …

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source http://consumer-mortgage.com/canada-bc-passes-legislation-to-modernize-international-commercial-arbitration-act/

Morning Update: Toronto attack victims had built new lives in Canada

The north Toronto area where the attack happened is full of immigrants, and many of the victims identified so far came from other places to start a new life in Canada. Among those killed were Renuka Amarasingha, a single mother from Sri Lanka, and Chul Min (Eddie) Kang, a chef who emigrated from …

The post Morning Update: Toronto attack victims had built new lives in Canada appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/morning-update-toronto-attack-victims-had-built-new-lives-in-canada/

From a Studio Apartment to a Large Detached Home: What the Average Peak Millennial Can Afford …

The average Canadian peak millennial’s purchasing power dropped by approximately 16.5% ($40,103) after the introduction of the OSFI stress test … While peak millennials are largely able to afford their monthly mortgage expenses, coming up with an adequate down payment often proves to be the …

The post From a Studio Apartment to a Large Detached Home: What the Average Peak Millennial Can Afford … appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/from-a-studio-apartment-to-a-large-detached-home-what-the-average-peak-millennial-can-afford/

From broom closet to detached home: What millennials can afford across Canada

Millennials are finally thinking about settling down and buying a home. Many, though, are running up against the new mortgage rules that kicked in on Jan. 1. The rules, essentially, require even borrowers who can afford a 20 per cent down payment on a house to show that they would be able to keep up …

The post From broom closet to detached home: What millennials can afford across Canada appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/from-broom-closet-to-detached-home-what-millennials-can-afford-across-canada/

From high gas prices to low-but-rising interest rates, Canadians are being squeezed

From higher prices at the gas pump to admittedly still-low interest rates, Canadians are being squeezed. …. Rob Carrick: You may have to work until 70 to afford a house: Mortgage rates are heading higher · 6.6% (and don’t forget to tip): Diners, parents hit by rising prices as minimum wage hikes passed …

The post From high gas prices to low-but-rising interest rates, Canadians are being squeezed appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/from-high-gas-prices-to-low-but-rising-interest-rates-canadians-are-being-squeezed/

GTA millennials look farther afield after new mortgage rules

That’s in part due to Canada’s new mortgage stress test, which is adding significantly to the challenge of home ownership among the influential consumer group known as peak millennials, reducing their average purchasing power by 16.5 per cent or about $40,000. The expensive Toronto and …

The post GTA millennials look farther afield after new mortgage rules appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/gta-millennials-look-farther-afield-after-new-mortgage-rules/

Canadian millennials dream of being homeowners but most aren’t planning for it: CIBC Poll

TORONTO, April 26, 2018 /CNW/ – A new CIBC (CM:TSX) (CM:NYSE) poll finds that Canadians aged 18-37 who rent or live with family still dream of …. Are you clear about your total monthly costs beyond just your mortgage payments including taxes, insurance, utilities, and condo fees if applicable?

The post Canadian millennials dream of being homeowners but most aren’t planning for it: CIBC Poll appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/canadian-millennials-dream-of-being-homeowners-but-most-arent-planning-for-it-cibc-poll/

Mortgage Renewal Process in Canada for 2018

A review of the mortgage renewal process in Canada and the new stress test changes that came into effect in 2018. Switching mortgage providers is not as easy as I thought it was.

The post Mortgage Renewal Process in Canada for 2018 appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/mortgage-renewal-process-in-canada-for-2018/

Has The Canadian Housing Market Finally Adjusted to New Mortgage Rules?

A new mortgage stress test that came into effect on January 1 sent home sales across the country plummeting. But now that the first quarter of 2018 is behind us, is there relief in sight for the Canadian housing market? Some signs point to yes — a flattening of prices and a small uptick in sales could …

The post Has The Canadian Housing Market Finally Adjusted to New Mortgage Rules? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/has-the-canadian-housing-market-finally-adjusted-to-new-mortgage-rules/

BC clamps down on condo flipping and tax evasion

“This is a key step to stopping people from using presale condos as a quick, lucrative investment,” James told The Canadian Press. “It’s also to stop them from driving prices up for British Columbians trying to get into the housing market.” She added that the government will share the presale data it …

The post BC clamps down on condo flipping and tax evasion appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/bc-clamps-down-on-condo-flipping-and-tax-evasion/

CN Rail to sell Montreal and Calgary assets

Canadian National Railway Co. is considering selling additional real estate to free up cash that can be plowed back into its network. Properties in Montreal and Calgary are among the assets that Canadian National could divest in the coming months, interim Chief Executive Officer Jean-Jacques Ruest …

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source http://consumer-mortgage.com/cn-rail-to-sell-montreal-and-calgary-assets/

Wednesday, 25 April 2018

/CORRECTION from Source — Canada Mortgage and Housing Corporation (CMHC)/

In the news release, Kluane First Nation will receive funding for housing unit retrofits, issued 25-Apr-2018 by Canada Mortgage and Housing Corporation (CMHC) over CNW, please note that in the first paragraph, we should read “retrofit homes in Burwash Landing” rather than “retrofit homes in …

The post /CORRECTION from Source — Canada Mortgage and Housing Corporation (CMHC)/ appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/correction-from-source-canada-mortgage-and-housing-corporation-cmhc/

Housing providers anxious to hear more from feds on helping Indigenous people

At the same time, the Liberals are negotiating funding agreements with provinces and territories that have agreed to cost match several initiatives in the strategy, including a new housing benefit, to the tune of $7.7 billion. Canada Mortgage and Housing Corp., officials briefing conference delegates said …

The post Housing providers anxious to hear more from feds on helping Indigenous people appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/housing-providers-anxious-to-hear-more-from-feds-on-helping-indigenous-people/

Time running out on Indigenous housing

Over half of Indigenous Peoples in Canada live off-reserve, according to the most recent census figures and statistics from the Indigenous caucus of the … Canada Mortgage and Housing Corp., officials briefing conference delegates said the goal is to have all funding agreements signed by year’s end.

The post Time running out on Indigenous housing appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/time-running-out-on-indigenous-housing/

Kluane First Nation will receive funding for housing unit retrofits

SOURCE Canada Mortgage and Housing Corporation. For further information: Media contacts: Susan Moorhead Mooney, Hon. Larry Bagnell P.C., M.P., 867-668-6565, Larry.Bagnell.C1@parl.gc.ca; Sunny Patch, Cabinet Communications, 867-393-7478, sunny.patch@gov.yk.ca; Meagan Deuling, …

The post Kluane First Nation will receive funding for housing unit retrofits appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/kluane-first-nation-will-receive-funding-for-housing-unit-retrofits/

Survey Reveals Strong Support For Fair Housing Plan — Even If It’s Not Working

Support for the tax remains unshaken, despite new hard data on the extent of foreign ownership in Canada’s hottest markets: Numbers released in partnership from Statistics Canada and the Canada Mortgage and Housing Corporation (CMHC) reveal foreign activity accounts for just 3.4 per cent of …

The post Survey Reveals Strong Support For Fair Housing Plan — Even If It’s Not Working appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/survey-reveals-strong-support-for-fair-housing-plan-even-if-its-not-working/

Canadian Mortgage Defaults Haven’t Been This Low Since 2006

Canadian real estate borrowers are paying their mortgages at a near record pace. Filings with the Canadian Bankers Association (CBA) for the first quarter, show mortgages in arrears have fallen to new lows. The largest markets of Ontario and BC are just off of record lows. That sounds like great news, …

The post Canadian Mortgage Defaults Haven’t Been This Low Since 2006 appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/canadian-mortgage-defaults-havent-been-this-low-since-2006/

Living wage climbs alongside housing costs in Metro Vancouver

Using data from the Canadian Mortgage and Housing Corporation, the group found a $100 monthly increase in the median cost of a three-bedroom home in Vancouver. For B.C., overall the increase was $64 per month, while Chilliwack had the highest increase in the province at $563 more per month.

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source http://consumer-mortgage.com/living-wage-climbs-alongside-housing-costs-in-metro-vancouver/

Royal Bank of Canada or Fortis Inc. for Your RRSP Today?

Let’s take a look at Royal Bank of Canada (TSX:RY)(NYSE:RY) and Fortis Inc. (TSX:FTS)(NYSE:FTS) to see if one deserves to be on your buy list today. Royal Bank … A flood of listings would certainly be negative for the market, but Royal Bank’s mortgage portfolio is capable of riding out a downturn.

The post Royal Bank of Canada or Fortis Inc. for Your RRSP Today? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/royal-bank-of-canada-or-fortis-inc-for-your-rrsp-today/

Ghosts in Google Maps a risk to banks and national security, ‘internet police’ claim

I used to be a mortgage specialist with Scotiabank.” According to … ‘Nature at its finest’: Google Street View maps Canadian national parks … “That’s where it becomes a national security issue,” Trus said, noting that he could easily add his number to the listing for the RCMP or Revenue Canada too.

The post Ghosts in Google Maps a risk to banks and national security, ‘internet police’ claim appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/ghosts-in-google-maps-a-risk-to-banks-and-national-security-internet-police-claim/

Investors Group Walk for Alzheimer’s national sponsorship to raise vital funds for Canadians living …

“Investors Group is proud to support the Alzheimer Society and their outstanding efforts to improve the quality of life for Canadian families living with … family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services.

The post Investors Group Walk for Alzheimer’s national sponsorship to raise vital funds for Canadians living … appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/investors-group-walk-for-alzheimers-national-sponsorship-to-raise-vital-funds-for-canadians-living/

First trip to CMAs was one to remember for Haligonian

Clinton Wilkins won his first ever Canadian Mortgage Award, taking home the Award for Mortgage Broker of the Year (Fewer Than 25 Employees), on his first trip to the awards ceremony. “It feels amazing,” he said. “Honestly, I thought there was 0% chance I’d win but I guess it was 100%. I wish I had a …

The post First trip to CMAs was one to remember for Haligonian appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/first-trip-to-cmas-was-one-to-remember-for-haligonian/

Vancouver empty homes tax to pull in $30M on its first year

The most recent figure from the Canadian Mortgage and Housing Corporation placed the city’s rental vacancy rate at 0.8%, up slightly from the previous year. It’s unclear yet if the tax has increased the availability of rental accommodation, Robertson said, adding that the city is developing better data …

The post Vancouver empty homes tax to pull in $30M on its first year appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/vancouver-empty-homes-tax-to-pull-in-30m-on-its-first-year/

Canadians‘ support for housing measures, stress tests remains high – poll

More than a quarter after the Office of the Superintendent of Financial Institutions implemented the tighter mortgage stress test, 52% of Canadians still express support for the measure. 24% disagree, while 24% remain unsure. 47% of those polled say that the new stress test protects the Canadian …

The post Canadians‘ support for housing measures, stress tests remains high – poll appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/canadians-support-for-housing-measures-stress-tests-remains-high-poll/

Tuesday, 24 April 2018

The Best Place to Save Your Home Down Payment Apr 24th

The Canadian housing market can be difficult to gauge at any given time, especially during times of new mortgage qualifications, news of sales decreasing, and forecasts of interest rates increasing in the near future. Under the current conditions, some potential home buyers may be conflicted; they may …

The post The Best Place to Save Your Home Down Payment Apr 24th appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/the-best-place-to-save-your-home-down-payment-apr-24th/

Inn Out of the Cold is looking to expand their services to year-round as critically low vacancy rates …

Vacancy rates in Oxford County as reported by the Canadian Mortgage and Housing Corporation are 2.6 per cent. The average price of one-bedroom apartment is $908 per month. “These two data points contribute to homelessness in Oxford County when one considers the average Ontario Works …

The post Inn Out of the Cold is looking to expand their services to year-round as critically low vacancy rates … appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/inn-out-of-the-cold-is-looking-to-expand-their-services-to-year-round-as-critically-low-vacancy-rates/

Why Canadian homebuyers are playing ‘a different game,’ how to get an 8% yield on your plate …

Why Canadian homebuyers are playing ‘a different game,’ how to get an 8% yield on your plate, and the case for TSX tech stocks … trends in rental income, prospective mortgage rates five years out in order to maintain positive cash flow – the difference between mortgage payments and rental income.

The post Why Canadian homebuyers are playing ‘a different game,’ how to get an 8% yield on your plate … appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/why-canadian-homebuyers-are-playing-a-different-game-how-to-get-an-8-yield-on-your-plate/

CMHC Housing Market Assessment – First Quarter 2018 – Montreal

The Canada Mortgage and Housing Corporation (CMHC) just released its first quarter assessment, which evaluates real estate vulnerability, prices and construction at a national and provincial level. Here is a summary of their findings: …

The post CMHC Housing Market Assessment – First Quarter 2018 – Montreal appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/cmhc-housing-market-assessment-first-quarter-2018-montreal/

BMO economists talk trade, housing and pipelines

The Bank of Canada has identified that [failure to renegotiate NAFTA] as a major risk for the Canadian economy. But another major risk is also related to rising interest rates and the impact that that could have on consumers, not just in housing and mortgage loans but just in general consumer loans.

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source http://consumer-mortgage.com/bmo-economists-talk-trade-housing-and-pipelines/

Canada’s debt-to-income ratio will stabilize: BoC’s Wilkins

“However, the growth of household borrowing is slowing, which is consistent with the idea that consumers are starting to adjust to higher interest rates and new mortgage rules.” Poloz also told the committee that the Canadian economy’s expected 2% growth this year should rely less on household …

The post Canada’s debt-to-income ratio will stabilize: BoC’s Wilkins appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/canadas-debt-to-income-ratio-will-stabilize-bocs-wilkins/

Barrick’s huge profit drop

Barrick Gold Corp. reports that its net income fell to $158 million in its fiscal first quarter, down more than 75 per cent from the same period a year ago. The Toronto-based miner, which reports in U.S. currency, said its income amounted to 14 cents per share, compared to earnings of $679 million or 58 …

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source http://consumer-mortgage.com/barricks-huge-profit-drop/

Verico, DLC, CanWise, Solidifi among big winners at 2018 Canadian Mortgage Awards

Among those taking home a trophy were CanWise Financial (Mortgage Brokerage of the Year – 25 Employees or More), Solidifi (Mortgage Industry Employer of … According to Jessica Duce, Project Director of the Canadian Mortgage Awards, “There couldn’t be a better line-up of winners and finalists.

The post Verico, DLC, CanWise, Solidifi among big winners at 2018 Canadian Mortgage Awards appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/verico-dlc-canwise-solidifi-among-big-winners-at-2018-canadian-mortgage-awards/

CMHC: Canadian Real Estate Is At A “High” Degree of Vulnerability Right Now

Canadian real estate markets are at a high degree of vulnerability, according to a Crown agency. The Canada Mortgage and Housing Corporation (CMHC), the government agency in charge of assisting with mortgage liquidity, finished its first quarter assessment. The assessment notes a “high” degree …

The post CMHC: Canadian Real Estate Is At A “High” Degree of Vulnerability Right Now appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/cmhc-canadian-real-estate-is-at-a-high-degree-of-vulnerability-right-now/

Monday, 23 April 2018

Wilkins earns top award as mortgage broker

Halifax mortgage broker Clinton Wilkins was honoured as Mortgage Broker of the Year at the Canadian Mortgage Awards held in Toronto last week. “Sometimes we don’t think about the East Coast, and it’s forgotten about. So even to be a finalist is a huge deal,” Wilkins said in a news release.

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source http://consumer-mortgage.com/wilkins-earns-top-award-as-mortgage-broker/

Okanagan realtors add voices to anti-speculation tax coalition

… to demand that Premier John Horgan and the government reverse their decision to implement a Speculation Tax on B.C. and Canadian taxpayers. … She added that federal government regulation in the form of stiffer mortgage qualifications and higher interest rates is already having the predictable …

The post Okanagan realtors add voices to anti-speculation tax coalition appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/okanagan-realtors-add-voices-to-anti-speculation-tax-coalition/

Vancouver to rake in $30M in empty homes tax in first year

The most recent figure from the Canadian Mortgage and Housing Corporation puts the city’s rental vacancy rate at 0.8 per cent, up slightly from the previous year, the mayor said. It’s unclear yet if the tax has increased the availability of rental accommodation, Robertson said, adding that the city is …

The post Vancouver to rake in $30M in empty homes tax in first year appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/vancouver-to-rake-in-30m-in-empty-homes-tax-in-first-year/

Bank of Canada Key Interest Rate Update: April 2018

In its latest press release, Canada’s central bank announced it would be holding its key interest rate at 1.25%. Mortgage rates are bound to increase in the near future, but policy makers are wary of the strong impact of rising interest rates and stress tests on property prices and access to homeownership.

The post Bank of Canada Key Interest Rate Update: April 2018 appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/bank-of-canada-key-interest-rate-update-april-2018/

Last resort lender keeping Canadian home buying dreams alive

About 49 per cent of all outstanding mortgages were uninsured at the end of last year, up from 36 per cent five years ago. And the housing market in Toronto, Canada’s biggest city, has abruptly slowed, with average prices plunging 14 per cent in March from a year earlier, the biggest drop since 1991.

The post Last resort lender keeping Canadian home buying dreams alive appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/last-resort-lender-keeping-canadian-home-buying-dreams-alive/

Did Loblaws dodge taxes?

A tax court trial involving Loblaw Companies Ltd. and allegations by the Canada Revenue Agency that the retailer’s Barbadian banking subsidiary was …. listing their homes for sale because it would also mean that they would have to pay a higher mortgage rate for any replacement homes they bought.

The post Did Loblaws dodge taxes? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/did-loblaws-dodge-taxes/

Opening Statement before the House of Commons Standing Committee on Finance

At the time of our last appearance in October, we saw signs that the Canadian economy was moderating after an exceptionally strong first half of the year. … First, housing markets reacted to announcements of new mortgage guidelines and other policy measures by pulling forward some transactions into …

The post Opening Statement before the House of Commons Standing Committee on Finance appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/opening-statement-before-the-house-of-commons-standing-committee-on-finance/

Beaverhill Pioneer Lodge officially opens

The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Lori Sigurdson, Minister of Alberta Seniors and Housing, made the announcement today. Quotes:.

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source http://consumer-mortgage.com/beaverhill-pioneer-lodge-officially-opens/

Insider trading trial begins

Toys “R” Us has 82 Canadian stores that have stayed open despite the beleaguered retailer shuttering its U.S. and U.K. business. … But rising mortgage rates are also making it less likely that homeowners will choose to sell in order to buy another property at a higher interest rate. Nor have gains in new …

The post Insider trading trial begins appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/insider-trading-trial-begins/

Toys “R” US stayin’ alive

Toys “R” Us Inc. will seek approval to sell its Canadian unit to Fairfax Financial Holdings Ltd. after cancelling an auction for the company’s Canadian … But rising mortgage rates are also making it less likely that homeowners will choose to sell in order to buy another property at a higher interest rate.

The post Toys “R” US stayin’ alive appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/toys-r-us-stayin-alive/

TSX up, US stocks mixed

The industrial and energy sectors helped lift Canada’s main stock index higher in late-morning trading, while U.S. stocks were mixed. The S&P/TSX composite index was up 64.85 points to 15,549.17, after 90 minutes of trading. In New York, the Dow Jones industrial average was down 32.33 points to …

The post TSX up, US stocks mixed appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/tsx-up-us-stocks-mixed/

Spotlight: How do I know which type of mortgage is best for me?

Finding a mortgage is all about securing the best rate. Right? Well, not entirely… Sure, interest rates are a major factor when it comes to choosing a mortgage, but there are other things to consider, such as: Are you comfortable with risk? Do you plan on moving or is this your “forever home?” Does your …

The post Spotlight: How do I know which type of mortgage is best for me? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/spotlight-how-do-i-know-which-type-of-mortgage-is-best-for-me/

Don’t base child and spousal support on my million-dollar income, BC realtor tells divorce court

Last year, the firm made about a third of that amount, or $1 million. The causes of that decline, Soprovich told the court, include the foreign buyers’ tax, tightened mortgage rules and rising interest rates. He argued that anticipation of more measures from the NDP government is also affecting the market.

The post Don’t base child and spousal support on my million-dollar income, BC realtor tells divorce court appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/dont-base-child-and-spousal-support-on-my-million-dollar-income-bc-realtor-tells-divorce-court/

The Canadian Mortgage Brokers Course

This comprehensive, four-day, practical course is led by industry veterans with decades of combined experience, and is an ideal learning environment for new Mortgage Brokers. If…

The post The Canadian Mortgage Brokers Course appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/the-canadian-mortgage-brokers-course/

Stephen Poloz says Canada’s housing market is okay. So why worry?

He looks at the housing market and sees more of a temporary blip than a major correction, caused mainly by January’s introduction of new stricter qualification rules for getting an uninsured mortgage. The central bank’s conclusion is that people rushed to buy homes late last year before the new rules …

The post Stephen Poloz says Canada’s housing market is okay. So why worry? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/stephen-poloz-says-canadas-housing-market-is-okay-so-why-worry/

Anthem Completes $200 Million Funding from Kingsett Capital to Drive Growth

Founded in 2002, KingSett has raised $7.7 billion of equity for its Growth, Income, Urban and Mortgage strategies and currently holds interests in a $12.5 billion portfolio of assets. KingSett continues to seek further opportunities to invest in a wide range of Canadian real estate properties, developments, …

The post Anthem Completes $200 Million Funding from Kingsett Capital to Drive Growth appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/anthem-completes-200-million-funding-from-kingsett-capital-to-drive-growth/

Why can’t Canadians afford long-term sick leave?

She owns a modest bungalow in a well-to-do Toronto neighbourhood with a 30-year mortgage and a crumbling foundation, but it belongs entirely to her. My first contract in publishing had just ended, and I was excited about my future prospects. But job offers from future employers never arrived.

The post Why can’t Canadians afford long-term sick leave? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/why-cant-canadians-afford-long-term-sick-leave/

APRIL strengthens its foothold in Canada with the acquisition of Benecaid

Thanks to this acquisition, APRIL is strengthening its foothold on the dynamic Canadian complementary health insurance market, with annual growth of … On their behalf, APRIL’s 3,800 employees design, manage and distribute specialist insurance solutions (health and personal protection, mortgage, …

The post APRIL strengthens its foothold in Canada with the acquisition of Benecaid appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/april-strengthens-its-foothold-in-canada-with-the-acquisition-of-benecaid/

3 Dividend Investments Every Portfolio Needs

CIBC completed the acquisition of PrivateBancorp last year, which not only addressed the concerns of holding too many mortgage loans in Canada, but also provided a new revenue stream and a viable avenue for additional growth in the future. That expansion should not be discounted. The U.S. market …

The post 3 Dividend Investments Every Portfolio Needs appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/3-dividend-investments-every-portfolio-needs/

BC government launches review of real estate regulators

The British Columbia government is launching a review of the province’s real estate regulators to “make sure that British Columbians are effectively protected,” according to Finance Minister Carole James. “Buying and selling property can be stressful,” James said. “People need to trust the professionals …

The post BC government launches review of real estate regulators appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/bc-government-launches-review-of-real-estate-regulators/

My Mortgage Renewal Strategy

This strategy is based on what is now decades-old research by York finance professor Moshe Milevsky, whose ground-breaking 2001 study on mortgage rates showed Canadian mortgage holders would have been better off with a variable rate nearly nine times out of 10, saving around $22,000 in …

The post My Mortgage Renewal Strategy appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/my-mortgage-renewal-strategy/

Sunday, 22 April 2018

Breaking Canada’s Real Estate Addiction Will Be Painful

It’s no secret that, in recent years, Canada’s economy has concentrated on real estate to a degree rarely, if ever, seen before. … The new housing rules introduced by B.C. and Ontario, as well as the new federal mortgage rules, are designed to cool off the housing market in the face of eroding affordability …

The post Breaking Canada’s Real Estate Addiction Will Be Painful appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/breaking-canadas-real-estate-addiction-will-be-painful/

Newly rebuilt ML safe shelter to open spring 2019

The Canadian Mortgage and Housing Corporation and Service Canada also contributed to the project. A commemorative ground-breaking ceremony took place at the new site Friday afternoon. Meadow Lake MLA Jeremy Harrison, Mayor Gary Vidal, MLTC Chief Eric Sylvestre, and Flying Dust band …

The post Newly rebuilt ML safe shelter to open spring 2019 appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/newly-rebuilt-ml-safe-shelter-to-open-spring-2019/

How Much Are You Saving for Retirement?

According to a recent Canadian Imperial Bank of Commerce survey, 32% of Canadians between 45 and 64 have nothing saved for retirement, and 53% … Your expenses can include food (e.g., eating out, eating at home, coffee shop visit, food for your pet), housing (e.g., rent/mortgage payment, utilities, …

The post How Much Are You Saving for Retirement? appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/how-much-are-you-saving-for-retirement/

Saturday, 21 April 2018

Mortgage renewals tougher

According to a new CIBC report, nearly half of all mortgages in Canada are up for renewal this year, which is more than any year in history. What you should realize is your options may be limited if you thought you might shop around for a better deal with another lender. Rising interest rates and the new …

The post Mortgage renewals tougher appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/mortgage-renewals-tougher/

BREAKING: Ontario Car Insurance Rates Increase + MORE Apr 21st

property mortgage, BREAKING: Ontario Car Insurance Rates Increase Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be.

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source http://consumer-mortgage.com/breaking-ontario-car-insurance-rates-increase-more-apr-21st/

San Diego Mortgage

With her experience working in the industry in both California and Hawaii, Heidi Lawler is a trust mortgage lender who is determined to find you the perfect mortgage to finance the purchase of your dream home! For more information about your mortgage options, give Heidi a call today at (619) 249-3220.

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source http://consumer-mortgage.com/san-diego-mortgage/

Are variable mortgage rates still the best choice for saving on interest?

Variable rates have long been a favourite option for mortgage nerds. In part, that’s because of a 2001 study showing that Canadian mortgage holders would have been better off almost 90 per cent of the time with a variable rather than fixed rates between 1950 and 2000. Authored by Moshe Milevsky, …

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source http://consumer-mortgage.com/are-variable-mortgage-rates-still-the-best-choice-for-saving-on-interest/

Trending: The 30-Year Mortgage. What You Need to Know

Could 30 be the new 25 for Canadian mortgages? Well, no, at least not mortgages covered by CMHC. But in the world of low-ratio mortgages in Canada, a 30 year amortization period has become more common. And while many Canadians feel extending the amount of time given to pay a mortgage isn’t …

source http://consumer-mortgage.com/trending-the-30-year-mortgage-what-you-need-to-know/

July 2017, when Canadian interest rates are expected to increase

July 2017, when Canadian interest rates are expected to increase. October 22, 2015 mortgage rates 0 Comments. This is just in from TD Economics, a .75% Prime rate increase is expected to be phased in – probably in 1/4% increases – starting in July 2017 and being fully in by December. The rates …

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source http://consumer-mortgage.com/july-2017-when-canadian-interest-rates-are-expected-to-increase/

Friday, 20 April 2018

Streetwise newsletter: Top reads of the week; Proxy advisors on Crescent, Fortress trustee, Michael …

Restating: Recovering mortgage lender Home Capital Group Inc. has restated data on its residential home loan balances after detecting an error in a monthly filing with Canada’s banking regulator. Story (James Bradshaw, for subscribers). Governance: The board of directors of Hydro One Inc. approved …

The post Streetwise newsletter: Top reads of the week; Proxy advisors on Crescent, Fortress trustee, Michael … appeared first on Consumer-Mortgage.

source http://consumer-mortgage.com/streetwise-newsletter-top-reads-of-the-week-proxy-advisors-on-crescent-fortress-trustee-michael/