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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

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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Regulator launches broker database

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

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Homebuyers can now view their potential broker’s regulatory record in a now online portal, which allows consumers to search broker and company names to view disciplinary ...

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Mortgage premium hikes reduce case for borrowing to boost down payment

3/20/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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With mortgage insurance premiums rising, homebuyers whose down payments are just shy of 20 per cent may be considering whether to tap extra sources of credit in order to avoid ...

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What to expect after the U.S. Fed rate hike

3/17/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The possible impacts of the U.S. Federal Reserve’s decision on March 15 (Wednesday) to raise its key interest rate from 0.75 per cent to 1 per cent should not be ...

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Canadian household debt hits another record in fourth quarter

3/15/2017 | Posted in Financial Health by Shan Thayaparan

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The amount Canadians owe compared with how much they earn hit another record high last year. Statistics Canada said the amount of household ...

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US Federal Reserve hikes key interest rate to twice that of Canada's

3/15/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Federal Reserve has raised its benchmark interest rate for the second time in three months and signalled that any further hikes this year will be gradual. Higher rates ...

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Impact of U.S. Fed rate hike - Warning

3/14/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Locking in a rate before mortgages become more expensive is the best choice at present, as recent developments have pointed at a possible U.S. Federal Reserve rate hike in ...

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CMHC mortgage insurance hike scheduled for this month

3/8/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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The Canada Mortgage and Housing Corp. has announced that it will be implementing a hike on the premiums on its insured loans, with the increases calculated based on down ...

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Canada's banks are pushing back against taking on more mortgage risk

3/1/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada's financial industry is urging Ottawa to consider alternatives to proposals that could require them to take on a greater share of mortgage defaults — calling ...

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Bank of Canada announces rate

3/1/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada is holding its trend-setting interest rate at 0.5 per cent but it's keeping a watchful eye on "significant uncertainties'' that it warns ...

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Mortgage rates to remain low for the first half of 2017

2/24/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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In the wake of its report on the unsustainability of the Canadian housing market, Fitch Ratings predicted that mortgage rates will remain at record-low levels for the first six ...

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Rates aren't everything, don't forget to consider term: Mortgage math

2/21/2017 | Posted in Mortgage Tips by Shan Thayaparan

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You shopped around for the best deal on your mortgage and weighed the pros and cons of going with a fixed-rate or a variable-rate loan, but another key factor to consider is ...

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Lending market to slow down noticeably in the next few years: CIBC

2/17/2017 | Posted in Mortgage News by Shan Thayaparan

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The Canadian lending market will enter a period of relative cooling in the next few years as far-reaching changes to mortgage rules finally begin to make themselves felt, ...

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Variable-rate mortgages becoming more important to the market

2/10/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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The gap between the number of borrowers going for fixed and variable rates has become larger recently, pointing to the increasingly important role that variable-rate mortgages ...

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The classic RRSP season dilemma: Contribute or pay down your mortgage

1/27/2017 | Posted in Financial Health by Shan Thayaparan

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The type of person you are will inform the math that goes into your decision.

...

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