Canadian Mortgages

• The Case For Short Term Rentals
  A couple weeks ago, the federal government announced they’re cracking down on short term rentals. Property owners will no longer be able to claim their rental expenses against the income … Continue Reading The Case For Short Term Rentals

Mortgage Broker News

Canadian Mortgage Trends

• RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026
  Despite interest rates having been elevated for over a year, Canada's largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years.
• 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 Mortgages 1-year 4.99% fixed rate term.
• Not quite a recession, but Canada sees third-quarter growth turn negative
  There was growing talk of the "R-word" (recession) leading up to today's GDP data release, given the third quarter could have marked the second straight month of negative growth.
• 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.
• Scotiabank expects credit losses to worsen with over $200B in mortgages coming up for renewal by 2026
  Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it's bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.