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Scarborough, Toronto, Ajax, Pickering, Durham, Brampton, Mississauga, York Region and the GTA | Re/Max Community Realty Inc., Brokerage

Mortgage Consumers / My Blog

Canadian homebuyer power has doubled since the millennium

8/18/2017 | Posted in Home Buyers by Shan Thayaparan

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A prolonged regime of low-interest rates along with a steady trend of rising incomes have more than doubled the amount that Canadians are able ...

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Interest rates to hit 1.75% by summer 2019

8/16/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The latest forecast from CIBC Capital Markets is for Canadian interest rates to increase again in December this year.

...

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New mortgage data released by CMHC

8/14/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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New mortgages continue to grow in Canada, according to a new report. There were just over 1 million new mortgage loans funded in Canada last year — up 1.4% ...

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Refinancing is driver of new loans growth: CMHC

8/9/2017 | Posted in Mortgage News by Shan Thayaparan

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The number of new mortgages continued higher in 2016 but the share of first-time buyers slipped, CMHC says. The crown corporation reports that there were just over 1 ...

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Risk sharing could be negative for housing, mortgage market

7/31/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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If the federal government forces mortgage lenders to carry more of the risk for delinquencies it could have a negative impact on the housing market and lead to an increase in ...

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Avoid These Common Mortgage Pitfalls

7/31/2017 | Posted in Home Buyers by Shan Thayaparan

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A home is the largest purchase most people will make in their lives. That should reinforce the importance of planning ahead, doing your ...

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Canada's economy accelerates, rate hike expectations grow

7/28/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Canada’s economy accelerated far more than expected in May amid growth in the energy and manufacturing sectors, pointing to solid momentum in the second quarter ...

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Now that the Bank of Canada has scratched the interest rate itch, get ready for more

7/24/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Many of the world's central bankers, including in Canada, had been stubbornly tied to low-for-longer interest-rate regimes following the recession. That time has ...

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Three big banks raise prime lending rates following rate hike from Bank of Canada

7/12/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Three of Canada's biggest banks are boosting their prime lending rates by 25 basis points, following an interest rate hike from the central bank.

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The Bank of Canada hikes rate for first time in seven years

7/12/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Central Bank raised its new target for the overnight rate to ¾% today, citing a confident financial outlook and above-potential ...

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Stress tests are driving some to riskier lending

7/12/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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The stress tests on mortgages, introduced last fall by the federal government, is pushing some homebuyers into uninsured lending options.

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Proposed mortgage rules aim to reduce financial risk in Canada's hot housing markets

7/7/2017 | Posted in Mortgage News by Shan Thayaparan

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New rules proposed by the federal government to curb financial risks associated with the country's hot housing markets could make it more difficult to secure a ...

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GDP Grows a Sixth Month, Adding to Canada Rate-Hike Pressure

6/30/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Canada’s economy grew for a sixth consecutive month with gains in a majority of industries, underlining the central bank’s view a durable recovery from an oil shock ...

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Homeowners worried over rate hike advised to lock in mortgages - experts

6/22/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Homeowners with variable rate mortgages losing sleep over the increased chatter about a potential interest rate hike by the Bank of Canada should consider locking their rates ...

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U.S. Fed closing the door on low-rate mortgages in Canada

6/15/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The U.S. Federal Reserve raised its trend-setting interest rate on Wednesday for the third time in six months to the highest level since the global financial crisis hit in the ...

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Canada's central bank acts to defuse housing market threat

6/15/2017 | Posted in Mortgage News by Shan Thayaparan

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Canada's central bank, which had long said interest rates are too blunt a tool to tackle the country's housing market, may have finally decided to act and at least ...

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Mortgage delinquency rates low in Toronto, Vancouver despite high prices: CMHC

6/14/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Mortgage delinquency rates were low in Toronto and Vancouver during the fourth quarter of 2016, despite hot housing markets that have sent prices soaring, according to a new ...

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Bank of Canada says next move likely an interest rate hike

6/12/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada offered its strongest signal yet that it’s ready to raise interest rates as the economy gathers steam, in surprise comments that sent the Canadian ...

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Forecasting the next rate increase

6/12/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The latest jobs performance could put pressure on the Bank of Canada to increase interest rates, according to one veteran.

...

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Mortgage rates ticking higher for subprime borrowers

6/8/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Rates at alternative lenders have increased by as much as 150 basis points since the start of April

...

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CMHC insurance volumes plunged 41% after mortgage rules tightened

5/30/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada's housing agency saw a sharp decline in the number of home buyers who qualified for mortgage insurance under tougher rules implemented last fall.

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A 10% hike to mortgage payments would sink almost 3 quarters of homeowners, Manulife says

5/25/2017 | Posted in Financial Health by Shan Thayaparan

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Almost three quarters of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10 per cent, a new survey from ...

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Bank of Canada maintains overnight rate target at 1/2 per cent

5/24/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

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House prices can't climb faster than incomes forever

5/18/2017 | Posted in GTA Real Estate by Shan Thayaparan

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For the last three years, analysts have been predicting a Canadian housing crash and ensuing recession, yet the economy continues to chug along and house prices are still ...

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Income volatility for 10 million Canadians: TD Bank Report

5/18/2017 | Posted in Financial Health by Shan Thayaparan

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Around 10 million Canadians say they have experienced moderate to high levels of income volatility in the past year.

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Prepare for multi-point interest rate rise

5/5/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Mortgage borrowers should be prepared for a rise in interest rates which could mean a 2.5 per cent rise by 2021 says Desjardins.

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Home Capital crisis might precipitate mortgage rates hikes

5/3/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The current troubles of Home Capital Group might lead to higher mortgage rates for less credit-worthy borrowers if concerns about the sector trigger an increase in funding ...

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Mortgage rates continue to defy expectations as Trump runup fizzles

4/28/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Here’s the least surprising news you’ll hear all day: Interest rates are not doing what most experts predicted.

...

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Single Canadians make up a quarter of homebuyers

4/13/2017 | Posted in Home Buyers by Shan Thayaparan

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Almost 1 in 4 homebuyers is buying on their own, often due to unexpected life changes. A new survey from TD found that 69 per cent of divorced and 35 per cent of widowed ...

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Bank of Canada maintains overnight rate target at 1/2 per cent

4/12/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the ...

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