
“We don’t see vulnerabilities worsening,” OSFI says as it leaves capital buffer for big banks unchanged
Canada’s banking regulator today announced no change to the amount of capital banks must keep on hand to cover potential future losses. As part of its semi-annual review, the ...

A 4.99% mortgage is providing short-term relief to borrowers…but what’s the catch?
Some new and innovative mortgage products have recently emerged to help Canadians manage the current high interest rate environment, perhaps most talked about being True North Mortgage’s 1-year 4.99% ...

Brokers react to the government’s “nonsense” mortgage charter
The Liberal government last week unveiled a “new” Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make their payments. But it ...

Latest in mortgage news: Adult children of homeowners twice as likely to own a home
A key factor in determining whether an individual is likely to become a homeowner is whether or not their parents were property owners, a new study shows. The adult children ...

Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September. New mortgage activity grew at an annual pace of ...

Overview of housing initiatives in the government’s Fall Economic Statement
From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement released today. ...

Interest rates are higher than they should be due to government spending: Scotiabank
Canadian interest rates are about 200 basis points higher than they otherwise would be due to government spending at all levels, including billions spent on pandemic relief. That’s the ...

Delinquencies rising for borrowers with $400k+ mortgages, CMHC report shows
While overall mortgage delinquency rates remain near historic lows, figures show an upward trend this year for borrowers with larger balances. Data released this week by the Canada Mortgage and ...

The clock is ticking for Ontario brokers wanting to arrange private mortgages
A reminder to Ontario brokers wanting to arrange private mortgage deals in the new year: the deadline to complete the new licensing requirements is quickly approaching. Under the new Ontario ...

Several big banks to be impacted by OSFI’s new capital requirements for negative amortization mortgages
Canada’s banking regulator recently confirmed it will move ahead with new capital requirements for lenders and insurers with negatively amortizing mortgage portfolios. Starting in early 2024, the Office of ...

Latest in mortgage news: bond yields plunge as U.S. inflation eases
Canadian bond yields took another step down today following the release of lower-than-expected inflation data south of the border. The U.S. Department of Labor reported that lower gas prices helped ...

Mortgage industry reps provide feds with proposals to address housing affordability
Representatives from Canada’s mortgage industry presented the federal government with several proposals they say will help address the country’s housing affordability crisis. Earlier this week, Jasmine Toor of Mortgage ...

Latest in mortgage news: Lenders cut select fixed rates by up to 30 bps
Mortgage providers across the country have been dropping fixed mortgage rates throughout the week in response to a sharp decline in bond yields. As we reported last week, the 5-year ...

Experts predict lower mortgage rates as bond yields plunge
Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop in bond yields. This week alone, the 5-year Government of Canada ...

Fixed-payment variable rate mortgages a “dangerous product,” says OSFI
Canada’s banking regulator said Thursday it views fixed-payment variable-rate mortgages as a “dangerous product” that puts certain borrowers at increased risk of default. Peter Routledge, head of the Office ...

BoC’s Macklem talks government spending, political interference and (not) interest rate cuts
Bank of Canada Governor Tiff Macklem said on Monday bringing down inflation is “proving more difficult than we thought.” He also conceded that current government spending plans are at odds ...

Lender executives share their insights into the latest mortgage trends
The lender panel is a perennial fan-favourite at the National Mortgage Conference and this year was no exception. The panel, featuring executives from four key mortgage lenders, covered a number ...

Navigating to the top: women leaders in the mortgage and real estate industries share their stories
In a field traditionally dominated by men, a shift is underway within the offices of Canada’s mortgage and real estate industries. Women are now stepping into the limelight, assuming leadership ...

Private mortgages: what brokers need to know
Think about McDonald’s: a universal symbol of predictable, fast service delivering the same trusted meal coast to coast. This, says Derek Serra, president of Westboro Mortgage Investment Corp, epitomizes ...
Private mortgages: what brokers need to know
While private mortgage providers may offer higher interest rates, they can be an attractive option for homebuyers unable to secure financing through A lenders.