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Published on Wed, 18 Apr 2018 16:01:20 +0000

by Andy Blatchford The Bank of Canada is maintaining its trend-setting interest rate as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth. The central bank, which kept its rate at 1.25 per cent Wednesday, said slower first-quarter growth of about 1.3 per cent was largely a result of housing markets’ responses to ... Read More

The post Bank of Canada makes interest rate announcement appeared first on Mortgage Talk Canada.

Published on Fri, 13 Apr 2018 13:08:21 +0000

by Greg Quinn and Erik Hertzberg Canadian new home prices fell for the first time since 2010 in February, led by a drop in Toronto as buyers were squeezed by higher interest rates and tougher mortgage regulations. Prices in the nation’s largest city fell 0.6 percent, the second monthly decline and the biggest in eight years. Builders also charged the ... Read More

The post Toronto leads slump (Bloomberg) appeared first on Mortgage Talk Canada.

Published on Fri, 13 Apr 2018 12:43:07 +0000

by Chris Fournier Scott Hannah says low borrowing costs and rising home prices have lured Canadians into a debt trap they may not escape if looming economic threats materialize. Hannah, president of the Credit Counselling Society, is seeing an influx of clients as higher financing costs begin to bite and people find it harder to manage. Phone calls were up ... Read More

The post ‘Dr. Debt’ issues dire warning to Canadians (Bloomberg) appeared first on Mortgage Talk Canada.

Published on Fri, 13 Apr 2018 12:34:33 +0000

by Natalie Wong Toronto’s housing market has seen a stunning slowdown in the past year. Now one brokerage has cataloged the damage for 988 homeowners who got caught in the eye of the hurricane. In the space of four months last year, the homeowners lost a collective C$135 million ($107 million) as the median house price slid 18 percent, a ... Read More

The post Getting caught in Toronto’s ‘eye of the hurricane’ (Bloomberg) appeared first on Mortgage Talk Canada.

Published on Tue, 10 Apr 2018 18:36:24 +0000

If you’re having difficulty qualifying for a mortgage due to bad credit, are fresh out of school, or maybe just don’t have enough of an employment history for some lenders. Don’t despair… co-signer might tip the scales in your favour. Robb Nelson, CEO of FamilyLending.com, says a co-signer often tips the scales from ‘no’ to ‘yes’ with many lenders. Often, ... Read More

The post A Co-Signer Could Be the Key to Mortgage Qualification Success appeared first on Mortgage Talk Canada.

Published on Mon, 09 Apr 2018 13:46:57 +0000

Broccolini Construction Inc. plans to invest as much as C$300 million ($233 million) to build the tallest residential tower in Montreal. The closely held firm will transform 600,000 square feet of downtown city space into a 56-story mixed-use tower, said Roger Plamondon, president of real estate development and acquisitions at Broccolini. Eight stories will be allocated to office and retail ... Read More

The post Tallest residential tower set to change skyline (Bloomberg) appeared first on Mortgage Talk Canada.

Published on Mon, 09 Apr 2018 13:38:27 +0000

The Cannabis industry is about to light up in Canada and preparations are being made to secure production facilities. But according to commercial mortgage broker Harry Tyson of DLC Commercial Core Financing, it isn’t without its set of problems. “I have done a building that has that (cannabis production) in it,” he said. “There are lenders who are willing to take that, ... Read More

The post Demand for these properties will surge in second half of 2018 appeared first on Mortgage Talk Canada.

Published on Mon, 09 Apr 2018 12:40:31 +0000

In a down-and-out Canadian town, Bruce Linton dreamed of transforming an abandoned Hershey Co. chocolate plant into the Next Big Thing, a medical marijuana factory. But the pot entrepreneur faced a crisis typical of his edgy industry: Banks shut their doors in his face. It began with Royal Bank of Canada. The 148-year-old blue-chip company dropped him as a customer when it ... Read More

The post Despite stigma, new sector becoming too lucrative to ignore (Bloomberg News) appeared first on Mortgage Talk Canada.

Published on Mon, 09 Apr 2018 12:11:28 +0000

by Neil Sharma, Mortgage Broker News Chinese real estate portal Juwai—which collects staggering quantities of data on Canadian housing—has struck a deal with online retailer JD.com to start selling homes like shoes. Juwai markets overseas properties to buyers in China’s Mainland and, according to a JD.com statement buyers can view houses listed for sale “like milk, shoes and other household goods.” ... Read More

The post International online retailer selling Canadian houses like shoes appeared first on Mortgage Talk Canada.

Published on Mon, 09 Apr 2018 11:53:36 +0000

Home Capital has been in the news for all the wrong reasons in the last few years, but it appears the Alt-A lender has reached greener pastures. In fact, the Toronto-based lender is ahead of schedule. The company’s CEO Yousry Bissada noted that since a buoyant third quarter in 2017, Home Capital is on pace to fully recover at some ... Read More

The post Troubled lender back from the brink appeared first on Mortgage Talk Canada.