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Published on Wed, 20 Mar 2019 13:52:10 +0000

The announcement of a new CMHC First-Time Home Buyers Incentive Plan represents a shared equity mortgage program that would give eligible first-time homebuyers the ability to lower their borrowing costs by sharing the cost of buying a home with CMHC. The incentive would provide funding (equity sharing) of up to five percent of the purchase price of an existing home, ... Read More

The post Federal Government Seeks to Assist First Time Home Buyers in New Budget appeared first on Mortgage Talk Canada.

Published on Thu, 14 Mar 2019 20:10:27 +0000

Statistics Canada says the amount Canadians owe relative to their income ticked higher in the fourth quarter of last year as the growth in debt slightly outpaced income growth. The agency says that seasonally adjusted household credit market debt, as a proportion of disposable income, increased to 178.5 per cent in the fourth quarter. That compared with a revised reading ... Read More

The post Household debt outpaced income in Q4: Statistics Canada appeared first on Mortgage Talk Canada.

Published on Wed, 06 Mar 2019 15:28:33 +0000

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report(MPR). While the ... Read More

The post Bank of Canada maintains overnight rate target at 1 ¾ per cent appeared first on Mortgage Talk Canada.

Published on Fri, 08 Feb 2019 14:21:25 +0000

Why do we stay with them? Complacency is a big reason. A lack of knowledge is another. By: Justin Thouin  Via: Huffpost Whenever one of these major Canadian banks tweak their mortgage rates, it makes headlines. Like last month, when RBC dropped its five-year fixed-term mortgage rate by 0.15 percentage points (or 15 basis points) to 3.74 per cent. Every major news outlet ... Read More

The post Big-Bank Mortgages Are Comfortable, Popular And The Worst Deal Around appeared first on Mortgage Talk Canada.

Published on Mon, 21 Jan 2019 21:14:35 +0000

Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent. Mortgage rate comparison website founder Robert McLister says RBC is the first of the Big Six banks to cut its advertised five-year fixed rate after a fall in five-year bond yields. McLister adds that he expects other big ... Read More

The post RBC cuts 5-year fixed mortgage rate appeared first on Mortgage Talk Canada.

Published on Thu, 10 Jan 2019 16:20:19 +0000

By: Robb Nelson Building you own home? Let us explain why private financing is used vs bank financing. There is something primally satisfying about building your own home as you get to take a blank slate of land and turn it into the home of your dreams where everything is laid out the way you want. You get to make all ... Read More

The post Banks Won’t Touch Your Construction Loans, And Here’s Why You Don’t Want Them To appeared first on Mortgage Talk Canada.

Published on Wed, 09 Jan 2019 15:34:59 +0000

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic expansion continues to moderate, with growth forecast to slow to 3.4 per cent in 2019 from 3.7 per cent in 2018. In particular, growth in ... Read More

The post Bank of Canada maintains overnight rate target at 1 ¾ per cent appeared first on Mortgage Talk Canada.

Published on Mon, 07 Jan 2019 14:16:05 +0000

Josh Sherman Jan 5, 2019 On a recent segment of BNN Bloomberg, Toronto realtor John Pasalis voiced support for extended mortgage stress testing nearly a year to the day after the federal government introduced it. “The stress tests are great,” Pasalis says of the measure which requires mortgage applicants to qualify for their loans at a higher interest rate than they are ... Read More

The post The problem with the Canadian government’s mortgage stress test appeared first on Mortgage Talk Canada.

Published on Thu, 13 Dec 2018 15:56:41 +0000

Sarah Niedoba The dream of owning a home in many of Canada’s largest cities has become increasingly out of reach for the average would-be buyer. And according to a new survey, the majority of Canadians think the government should be doing more to help. Up to 71 percent of Canadians believe that the federal government should be doing more to ... Read More

The post 71% of Canadians Think the Federal Government Needs to do More to Improve Housing Affordability appeared first on Mortgage Talk Canada.

Published on Thu, 13 Dec 2018 14:21:42 +0000

Linda Nguyen, The Canadian Press Home prices across the country are expected to rise in 2019, but only at a moderate pace compared with recent years, according to two of Canada’s largest residential real estate brokerages. Royal LePage is anticipating the national median home price will increase by 1.2 per cent in 2019, with prices in Toronto and the surrounding areas ... Read More

The post Modest home price growth expected for 2019: Re/Max, Royal LePage appeared first on Mortgage Talk Canada.