Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Home Prices Off the Rails (RATESDOTCA) Global home price boom has central banks facing an inflation conundrum (Financial Post) Whether reflected in price indices or not, soaring home values create price pressures elsewhere in the economy. Inflation forces the Bank of Canada’s hand ahead...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Could Homeowners Staying Put Add Pressure to Home Prices? (RATESDOTCA) Posthaste: Why Canadians should brace for higher mortgage rates sooner than expected (Regina Leader-Post) Actually it was a good time to start thinking about fixed rates (for those suited to fixed) 2 to 4+...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Surprise! Bank of Canada Now Sees Rate Hikes as Early as Next Year (RATESDOTCA) The Bank’s forward guidance loses some credibility. 5-year Fixed Mortgage Rates Drop … Slightly (RATESDOTCA) “Good Grief” Mr Macklem (Agility Forex) “…the BoC may be the first G-10 central bank...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): 5-year fixed mortgage rates drop … slightly (RATESDOTCA) Federal budget 2021:Ottawa plans vacant home tax to dissuade foreign speculators, along with billions for affordable housing (The Globe & Mail – Subscription) A 1% tax is supposed to dissuade foreign buyers looking for safe offshore...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Federal Budget a Snoozer for Housing (RATESDOTCA) The feds tried hard not to upset the apple cart with today’s budget. Are Mortgages with 35-year Amortizations Worth it? (RATESDOTCA) Yes indeed, 35-year ams still exist in Canada. Bank of Canada expected to slow pace of...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Canadian Reverse Mortgage Rates Drop to Record Low (RATESDOTCA) Upfront rates are one thing. Renewal rates are another. BMO chief economist says “fiery demand” sets Canadian housing market into a “towering inferno” (The Georgia Straight) Sure Porter, upstage our nuclear meltdown metaphor with a...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): Meltdown Risk Growing for Canadian Housing (RATESDOTCA) Average price of Canadian home rising at fastest annual pace ever, now up to $716,828 (CBC News) Why Canadians aren’t interested in negative interest rates (Financial Post) 3 in 4 don’t want negative rates, says BoC. Now...
Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents): How higher rates affect your mortgage renewal (RATESDOTCA) There’s a fair chance that many who got record-low 5-year fixed rates in the last 9 months will see their payments rise at maturity. They’re renewing a mortgage – should they go fixed or variable? (The...
Here’s a daily helping of Canada’s latest mortgage news (the italics are the Spy’s 2 cents): First-time Buyers Can’t Save Down Payments Fast Enough to Keep Pace with House Prices (RATESDOTCA) Meanwhile, CMHC says it plans to launch a revised First-Time Home Buyer’s Incentive this spring, which reportedly boosts buying power (i.e., further fuels home prices) Pattie Lovett-Reid: Housing affordability...
Important Clarifications… Here’s more of what you need to know about the new stress test rules, straight from the regulator: On the Need to Act Now 25.6% of uninsured mortgages originated between July and December 2020 had a “qualified TDS” above 43%, OSFI says. 44% is the limit, and for a healthy market you really want to see that number...
log in