News
Stay updated with the latest mortgage trends and rates
Canadian Mortgages
- Population Crisis Part 2: The Good NewsHopefully you read Part One of this article where I discuss the Canadian government’s delusional (and incredibly damaging) immigration strategy. With no meaningful plan to absorb 500,000 newcomers per year, … Continue Reading Population Crisis Part 2: The Good News
Mortgage Broker News
- Trudeau unveils new national housing planPrime minister bids to tackle crisis
- Bank of Canada decision: Did we learn anything new?CEO on key takeaways from April announcement
- Ontario regulator revokes 29 mortgage broker licenses for non-complianceFSRA says brokerages failed to appoint principal and file required annual returns
- Canada needs 1.3m new homes by 2030, PBO saysCurrent construction rates insufficient to meet the demands of a booming population
- BMO sued for alleged failure to prevent frauds totalling $1.5mLawsuit targets bank after clients lose millions in cyber fraud
Canadian Mortgage Trends
- Feds commit to exploring CRA income verification in budget 2024 to address mortgage fraudThe federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency.
- Home prices expected to climb 4.9% in 2024 as sales rise last month: CREAThe Canadian Real Estate Association says it's now expecting the national average home price to climb 4.9% on an annual basis to $710,468, more than double the hike it had predicted at the start of 2024.
- Entry to housing market feels out of reach for 76% of non-owners: CIBC pollThree in four Canadians who don't own a property say buying a home feels out of reach, a new poll shows.
- Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homesAdvocates are praising Ottawa's move to lengthen the amortization period on insured mortgages for certain homebuyers.
- Strong U.S. inflation could delay rate cuts on both sides of the borderWhile the Bank of Canada left its benchmark rate unchanged as expected today, markets instead turned their attention to today's hot U.S. inflation report.