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CMHC Released their annual report last week, Tuesday May 8th. The Canadian Mortgage and Housing Corporation continues to be an integral player in contributing to the stability of the Canadian marketplace. In 2011, spending on housing accounted for a whopping 20 per cent of Canada’s GDP last year and CMHC provided $2 billion in support of housing programs. Here’s a summary of the report.
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Over the last week the Real Estate Board of Greater Vancouver (REBGV) and Toronto Real Estate Board released their monthly real estate market reports. Here is a summary of their findings.
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There have been talks about Canada’s subprime mortgage industry getting out of control as the banks turn more and more clients away who have less than perfect credit. Who are these so called less than perfect clients turning to?
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The Bank of Canada is hinting a hike in the overnight lending rate is coming soon. This move will affect the payments on variable mortgages, lines of credit or any debt connected to the floating rate. If you’re worried about your ability to service debt in a higher interest rate environment, there are plenty of steps you can take right now to prepare.
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With Governor Mark Carney hinting that the Bank of Canada will be increasing interest rates comes Scotiabank’s UVRM (Ultimate Variable Rate Mortgage) offering protection from rate increases. Here’s what the Ultimate Variable Rate Mortgage offers.
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Want to know what the outlook is on mortgage rates for the next 30 to 40 days? Our panel of mortgage experts share their views on Canadian Mortgage Rate Trends.
Panel Consensus
May 2012
