9/18/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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A "vast majority" of borrowers who took on payment deferrals will be able to fulfill their balances before year-end.

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Major banks anticipating resumption of most mortgage payments

  9/10/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Canadians piled on mortgage debt even as COVID-19 forced the country into lockdowns, and Canada Mortgage and Housing Corporation (CHMC) worries many will eventually struggle to ... More

Surge in outstanding residential mortgage credit: CMHC sees risk of delinquencies jumping

  9/9/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The total mortgage deferral volume in these banks as of the end of July exceeded $130 billion

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Canadians have more than 500,000 payment deferrals with the Big Six

  8/30/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Canada’s total balance of mortgage payment deferrals stood at over $247 billion as of the end of the second quarter, according to data from TransUnion.

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Mortgage payment deferrals reach $247bn

  8/17/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Mortgage insurers are not signalling enthusiasm towards the extension of six-month payment deferrals, according to an analysis by The Financial Post.

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Insurers: Mortgage deferral extensions not on the table

  8/10/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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While shrinking mortgage delinquencies during the first quarter have set the stage for even lower Q2 readings, analysts warned that a significant increase might take place ... More

CMHC not the only group expecting a 'deferral cliff'

  7/13/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Renewal and refinance activity has spiked since lockdowns were lifted according to a recent report.

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Borrowers rushing to take advantage of current low interest rate environment

  6/30/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available ... More

Mortgage Rates Keep Setting New Record Lows

  6/12/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Many Canadians will attempt to purchase new homes before the adjusted rules take effect on July 1.

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CMHC's new rules will spur heightened home-buying activity

  5/12/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The coronavirus has plunged market activity into a deep freeze

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New mortgages to decline considerably in the near-term: TD Economics

  4/17/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Canadian banks have processed 670,000 mortgage deferrals in first month

  4/4/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic ... More

Canada's big banks field half a million mortgage deferral requests

  3/26/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Canada beefs up liquidity plan with expanded mortgage guarantee

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CMHC expands Insured Mortgage Purchase Program

  3/5/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that.

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What the Bank of Canada rate cut means for mortgages

  2/27/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More

Changing the stress test may raise credit risk for banks says Fitch

  2/19/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for ... More

OSFI considering new benchmark rate for uninsured mortgages

  2/18/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Ottawa changing stress test rate for insured mortgages starting April 6.

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Morneau unveils new insured mortgage stress test rate

  1/22/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy.

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Bank of Canada Holds Rates, Shows Less Confidence in Outlook

  1/22/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The current lending rules in Canada are geared towards shorter-mortgage terms

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Why longer-term mortgages could be beneficial

  1/17/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics.

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Ultra-low Rates Will Persist: RBC

  1/8/2020 | Posted in Mortgages and Real Estate by Stephen Gale
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Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

  10/10/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s ... More

Canadian mortgage debt growth continues unabated

  9/25/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Employment figures had a major influence on the market's dynamics.

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Low interest rates are the market's lifeline during tougher times

  9/19/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well.

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More Fed cuts expected to push Canadian interest rates lower

  9/16/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud.

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23% of millennials justify lying on a mortgage application

  9/6/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests.

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Canadian mortgage borrowers have a 'rare opportunity'

  8/10/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes.

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Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

  7/28/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate.

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With fixed rates below variable ones, mortgage market is in the Upside Down

  7/21/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years.

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Central bank qualifying rate used in mortgage stress tests falls

  7/18/2019 | Posted in Mortgages and Real Estate by Stephen Gale
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The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp.

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OREA calls for relaxed mortgage rules
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