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Mortgage Industry / My Blog

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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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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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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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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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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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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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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Bank of Canada announces rate

1/18/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada is holding its benchmark interest rate at 0.5 per cent and providing a deeper assessment of the risks associated with the big economic unknowns of a Trump ...

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Bundles of debt: how lenders sidestep Canada's mortgage rules

1/18/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada's subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending.

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U.S. Fed rate hike will spill over the border

12/16/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Any move by the U.S. Federal Reserve will have a noticeable impact on the Canadian financial system - and this is especially true for any fluctuation in the Fed’s ...

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Interest rates are about to rise south of the border and Canadians will feel it

12/12/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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There are few certainties in life, but if the economists and experts who monitor the U.S. central bank are to believed, one of them is that the Federal Reserve is going to ...

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

12/7/2016 | Posted in Mortgage News by Shan Thayaparan

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The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations.

...

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CMHC insured mortgages increase 26 per cent, home equity rises

11/30/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada Mortgage and Housing Corp., the Crown corporation that controls about half of the mortgage default insurance market in the country, continues to shrink its ...

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CMHC passes stress test extreme scenarios

11/17/2016 | Posted in Mortgage News by Shan Thayaparan

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Canada Mortgage and Housing Corp. says its stress testing shows it will be able to withstand even the most extreme economic scenarios.

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Mortgage insurance premiums set to rise

11/14/2016 | Posted in Mortgage News by Shan Thayaparan

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Homeowners could be facing mortgage insurance price increases next year according to the boss of Canada’s largest private mortgage insurer.

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Big bank hikes prime rate

11/1/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Broker fears were confirmed Tuesday, with one big bank raising its prime rate less than a month following new mortgage rules.

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Canada's mortgage brokers find ways around new lending rules

10/21/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada’s new mortgage rules risk pushing borrowers deep into the shadow lending market, with brokers set to line up secondary loans with private lenders as a means of ...

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Bank of Canada keeps key interest rate unchanged at 0.5 per cent

10/19/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada is downgrading the country's economic growth outlook yet again amid dampened expectations for exports and real estate activity.

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Banks, insurers spearhead opposition to Ottawa's new housing rules

10/11/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canadian banks and mortgage insurers are rallying against new government housing rules that they say will lead to higher mortgage rates, hurt small real estate markets and ...

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Non-banks "crippled" by new mortgage rules says broker

10/11/2016 | Posted in Mortgage News by Shan Thayaparan

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The new mortgage rules being introduced by Ottawa next week are already having a “crippling” impact on non-bank mortgage lenders according to online broker Butler ...

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New rules will cool down mortgage market, not home prices

10/7/2016 | Posted in Mortgage News by Shan Thayaparan

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The dynamism of the Canadian mortgage market itself might be at risk due to the tighter regulations announced by Finance Minister Bill Morneau earlier this week, an observer ...

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Genworth: One-third of mortgage consumers at risk due to new measures

10/7/2016 | Posted in Mortgage News by Shan Thayaparan

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Fully one-third of consumers would encounter difficulties in meeting the new debt service ratios as outlined by the tightened mortgage measures introduced by Finance Minister ...

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