According to a new MPC report, the new mortgage stress test is leaving 18% of home buyers out of the market, though most can still afford to make monthly payments…
In 2018, new Ontario mortgage applicants likely won’t be able to afford the same home, as stricter mortgage rules come into place. And while those with a fixed rate mortgage are not impacted by interest rate increases implemented by the Bank of Canada, their affordability will be affected as well. For example…
The Bank of Canada announced today that the Overnight Lending Rate would remain at 1%, once again – and that an increase isn’t expected any time soon.
Toronto experienced a 27.4 per cent increase in overall condo starts in the month of April. Some continue to worry if there is too much development going on and if supply is outweighing demand, contributing to the so called ‘condo-bubble’ in Toronto’s downtown core. So, is the supply sustainable?
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.
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.
As if BMO’s 2.99% 5 year fixed rate that rocked the mortgage world wasn’t enough, they have now issued a public warning to brokers along the lines of “ready or not, here we come”. They’re looking to grow fins and be a shark in the market by building up their mortgage sales force and capturing market share. Plus, find out what really happens behind the mortgage scenes.
All about mortgage refinancing. What it is, when you need to do it and the benefits.