7/17/2024 | Posted in Mortgages and Real Estate by Marti Philp
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With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More

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  7/11/2024 | Posted in Mortgages and Real Estate by Marti Philp
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Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest rate ... More

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  6/19/2024 | Posted in Mortgages and Real Estate by Marti Philp
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The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ... More

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  6/19/2024 | Posted in Mortgages and Real Estate by Marti Philp
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The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially overheat ... More

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  5/29/2024 | Posted in Mortgages and Real Estate by Marti Philp
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Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More

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  5/22/2024 | Posted in Mortgages and Real Estate by Marti Philp
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Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew. ... More

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  4/16/2024 | Posted in Mortgages and Real Estate by Marti Philp
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Canadian regulator cracks down on high-debt mortgages to protect borrowers ... More

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  3/13/2024 | Posted in Mortgages and Real Estate by Marti Philp
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The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More

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  1/25/2024 | Posted in Mortgages and Real Estate by Marti Philp
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Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022. ... More

Real Estate & Mortgage News

  12/27/2023 | Posted in Mortgages and Real Estate by Marti Philp
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As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that 2024 ... More

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  12/13/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ... More

Real Estate & Mortgage News

  12/11/2023 | Posted in Mortgages and Real Estate by Marti Philp
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In its third-quarter earnings call, Scotiabank said it was undertaking a strategy of “customer deselection at renewal” as part of its efforts to slow its mortgage ... More

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  11/23/2023 | Posted in Mortgages and Real Estate by Marti Philp
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High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September. ... More

Real Estate & Mortgage News

  11/21/2023 | Posted in Mortgages and Real Estate by Marti Philp
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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 ... More

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  11/15/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon ... More

Real Estate & Mortgage News

  11/9/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ... More

Real Estate & Mortgage News

  10/31/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More

Real Estate & Mortgage News

  10/7/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated. ... More

Real Estate & Mortgage News

  9/14/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More

Real Estate & Mortgage News

  8/6/2023 | Posted in Mortgages and Real Estate by Marti Philp
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With the Bank of Canada’s interest rate hikes aimed at fighting inflation, the housing market in Canada experienced a slight drop in prices, according to a new report from ... More

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  7/26/2023 | Posted in Mortgages and Real Estate by Marti Philp
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ... More

Real Estate & Mortgage News

  7/13/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher ... More

Real Estate & Mortgage News

  7/6/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of higher ... More

Real Estate & Mortgage News

  6/27/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ... More

Real Estate & Mortgage News

  6/22/2023 | Posted in Mortgages and Real Estate by Marti Philp
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While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ... More

Real Estate & Mortgage News

  6/20/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Policymakers can take more concrete steps to alleviate consumer worries, national housing agency head says ... More

Real Estate & Mortgage News

  6/16/2023 | Posted in Mortgages and Real Estate by Marti Philp
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Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory. ... More

Real Estate & Mortgage News

  5/31/2023 | Posted in Mortgages and Real Estate by Marti Philp
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While a large number of mortgage holders have seen their monthly payment rates jump over the past year due to rising interest rates, the Bank of Canada (BoC) says the impact could ... More

Real Estate & Mortgage News

  4/17/2020 | Posted in Mortgages and Real Estate by Marti Philp
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Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Real Estate & Mortgage News

  4/4/2020 | Posted in Mortgages and Real Estate by Marti Philp
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Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic deepens, ... More

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