Mortgages
Opinion
When Will Rates Drop? It Depends On Who You Ask
What many Canadians may be unaware of is that fixed interest rates have already dropped 75 basis points from their peak last fall.
Mar 06, 2024
Mortgages
Mortgage Delinquencies Surge 135% In Ontario, 62% In BC
Canada-wide, mortgage delinquency rates have risen more than 52% over a 12-month course, new data from Equifax shows.
Mortgages
“Dead On Arrival”: CMHC Ends First-Time Home Buyer Incentive
An update provided on CMHC’s website confirms that the incentive is being “discontinued,” and notes that the deadline for new or updated submissions is March 21, 2024.
Finance
Income Needed To Buy A Home Down Almost $8K In Toronto, $10K In Vancouver
On top of softer mortgage rates, home prices have “chilled” across many major markets.
Insider: Rate Cuts A Must For Housing Supply (And They Can’t Come Soon Enough)
The data shows it is completely plausible — and possible — to serve tens of thousands of new housing units into the market in the coming months, just by lowering rates.
Mortgages
Renewing Your Mortgage in 2024? Here's How To Prepare
We spoke with Clay Jarvis, a mortgage and real estate expert at NerdWallet, to discuss what Canadians can do to prepare for a mortgage renewal in 2024.
Economy
Inflation Accelerated In December. What Does That Mean For Interest Rate Cuts?
"The Bank of Canada’s job is getting inflation under control. When there’s a setback like this, that should realistically postpone any possibility of a rate cut."
Real Estate News
What Experts Are Saying About Real Estate, Interest Rates In 2024
Forecasters say that 2024 will bring long-awaited interest rate cuts, some semblance of mortgage relief, and perhaps a more eventful spring housing market.
Mortgages
Interest Rates Slipping Below 5% For Some Mortgage Offerings
After many months of sky-high interest rates, some lenders are offering five-year insured fixed-rate mortgages at slightly more appealing rates.
Mortgages
Average Mortgage Holder To See Monthly Payments Rise Nearly 30% In 2024
There will be "no escape from higher rates," predicts Maria Solovieva, Economist at TD.
Mortgages
Canadian Mortgage Holders Reduce Spending Amidst High Interest Rates
The Canadian consumer is becoming increasingly stressed by high interest rates," TD Economics said.
Mortgages
“Worst-Off Borrowers” Could See Mortgage Payments Spike Upwards Of 70%
While some borrowers will look to extend the amortizations of their mortgages, others will opt to make lump-sum payments — however, both options “come with their own costs,” an expert says.
Mortgages
'Not A Lot Of New Content' In Feds’ Mortgage Charter, Expert Says
However, a spokesperson for Mortgage Professionals Canada says that it is a step in the right direction.
Mortgages
October Brings “Widespread Improvement” In Canadian Housing Affordability
“Home prices have indeed decreased by a large enough margin to ease [mortgage] qualification for many buyers in October, with affordability improving in eight of the 10 markets studied.”
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