11/29/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most ... More

OSFI's stress test change sparks industry confusion

  11/26/2024 | Posted in Mortgages and Real Estate by James Tracy
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The Bank of Canada (BoC) is preparing for its final rate announcement of 2024 on December 11, with economists anticipating a potential further reduction in its lending rate ... More

By how much could the Bank of Canada cut rates in December?

  11/25/2024 | Posted in Mortgages and Real Estate by James Tracy
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Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders.

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Canada's banking regulator loosens mortgage stress-test rules. Who will benefit?

  11/14/2024 | Posted in Mortgages and Real Estate by James Tracy
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BMO economist predicts homeowners can absorb higher mortgage rates

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Canada's mortgage renewal wall: A 'headwind' but not a crisis

  11/6/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on ... More

Bank of Canada says changes to mortgage structure will not resolve housing affordability

  11/4/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being ... More

CMHC says risks remain in mortgage market as delinquencies creep up

  10/24/2024 | Posted in Mortgages and Real Estate by James Tracy
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More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, ... More

Canadian homeowners consider switch to variable rate mortgages after big rate cut

  10/9/2024 | Posted in Mortgages and Real Estate by James Tracy
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Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall ... More

Rate drops help boost housing affordability: RBC

  9/22/2024 | Posted in Mortgages and Real Estate by James Tracy
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As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?

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Is breaking your mortgage for a lower rate worth the prepayment penalty?

  7/17/2024 | Posted in Mortgages and Real Estate by James Tracy
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With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More

Supply in Canada's property market surges as mortgage renewals loom

  7/11/2024 | Posted in Mortgages and Real Estate by James Tracy
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Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest ... More

Interest rate cut hasn't led to rush of homebuyer demand yet: Royal LePage report

  6/19/2024 | Posted in Mortgages and Real Estate by James Tracy
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The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ... More

Bank of Canada considered waiting until July to cut interest rates

  6/19/2024 | Posted in Mortgages and Real Estate by James Tracy
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The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially ... More

Bank of Canada officials worry that rate cuts may overheat the housing market

  5/29/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More

Residential mortgage debt hits $2.16 trillion amid slowest growth in 23 years: CMHC

  5/22/2024 | Posted in Mortgages and Real Estate by James Tracy
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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

Bank Regulator in Canada Warns of Housing-Payment Shock by 2026

  4/16/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canadian regulator cracks down on high-debt mortgages to protect borrowers

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OSFI announces new stress test for uninsured mortgages

  3/13/2024 | Posted in Mortgages and Real Estate by James Tracy
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The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More

Variable or short-term fixed mortgage? Where experts see the

  1/25/2024 | Posted in Mortgages and Real Estate by James Tracy
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Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.

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Under-35 households lead the way in reducing mortgage debt, StatCan reports

  12/27/2023 | Posted in Mortgages and Real Estate by James Tracy
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As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that ... More

2024 housing market and interest rate forecasts

  12/13/2023 | Posted in Mortgages and Real Estate by James Tracy
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.

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Latest in Mortgage News: OSFI leaves stress test rate unchanged

  12/11/2023 | Posted in Mortgages and Real Estate by James Tracy
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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 deselection: Can your lender choose not to renew your mortgage?

  11/23/2023 | Posted in Mortgages and Real Estate by James Tracy
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High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.

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Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show

  11/21/2023 | Posted in Mortgages and Real Estate by James Tracy
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From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More

Overview of housing initiatives in the government's Fall Economic Statement

  11/15/2023 | Posted in Mortgages and Real Estate by James Tracy
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Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon

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Mortgage market risks rising in high-rate environment: CMHC

  11/9/2023 | Posted in Mortgages and Real Estate by James Tracy
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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

New mortgage activity slowing - but debt continues rising, says CMHC

  10/31/2023 | Posted in Mortgages and Real Estate by James Tracy
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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

Most Canadian mortgage holders facing big payment shock: RBC

  10/7/2023 | Posted in Mortgages and Real Estate by James Tracy
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Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated.

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Mortgage renewals could cause severe downturn

  9/14/2023 | Posted in Mortgages and Real Estate by James Tracy
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Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More

Mortgage interest costs now up over 80% since the start of the BoC's rate hikes

  8/6/2023 | Posted in Mortgages and Real Estate by James Tracy
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With the Bank of Canada’s interest rate hikes aimed at fighting inflation, the housing market in Canada experienced a slight drop in prices, according to a new report ... More

New report examines how rising interest rates have impacted home prices in Canada

  7/26/2023 | Posted in Mortgages and Real Estate by James Tracy
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.

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What impact might OSFI's new proposals have on borrowing costs?

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