Canadian Mortgage Trends
- OSFI’s stress test on mortgage switches ends tomorrow: What you need to know 21 November 2024Starting tomorrow, certain mortgage borrowers will find it easier to switch lenders, thanks to the removal of the requirement to qualify at a higher stress test rate.
- Montreal unveils 2025 budget with new spending for housing, homelessness 20 November 2024The City of Montreal is promising to speed up construction permits, raise taxes on owners of vacant lots and spend tens of millions of dollars more to help develop affordable housing as part of its 2025 budget.
- Liberals, NDP to blame for Nova Scotia housing crisis, says Tory Leader Houston 20 November 2024Previous Liberal and NDP governments are to blame for Nova Scotia's housing crisis, Progressive Conservative Leader Tim Houston said Wednesday on the campaign trail, boasting that his party's plan to build more homes is bearing fruit.
- Nova Scotia Liberals call for new strategy for seniors housing 20 November 2024Nova Scotia Liberal Leader Zach Churchill says if his party is elected to govern on Tuesday, it would develop a comprehensive housing strategy for seniors.
- Odds of second 50-bps Bank of Canada rate cut drop after stronger inflation report 20 November 2024Still, many economists still see a half-point cut as likely at the Bank's December 11 meeting.
Rate Spy
- What Will Canadians do With All Their New Equity? 22 July 2021Millions of Canadians have “won” the Canadian housing lottery in the last year. Of the three quarters of homeowners who have owned for more than five years, they’ve amassed over $175,000 of equity, on average. Many, including those most able to spend their equity, have accumulated far more thanks to incessantly rising home values. “Canadians...
- Mortgage Rates: Give Them Time 12 July 2021Bond yields have sunk this month. And it’s taken no time for skeptics to pronounce that inflation fe
- Is the BoC Not Telling Us Something? 26 June 2021There’s a widening chasm between what the Bank of Canada is telling Canadians about inflation and what corporate leaders expect. The following chart ain’t pretty, and it contrasts starkly with the BoC’s inflation outlook. This graph from CFIB shows that businesses now plan to boost prices by 4.7% in the next 12 months. That is...
- Key Government Rate Falls to 3-Month Low 11 June 2021. One truth in economics is that mortgage rates typically follow inflation expectations, at least over time. That eventually poses a problem for borrowers, particularly after consumer prices take flight, like they have this year. U.S. core inflation, for example, recently jumped the most in four decades, 0.9% on a monthly basis. That “was well...
- Canadian Mortgage News Daily — June 1, 2021 1 June 2021Here's a daily helping of fresh Canadian mortgage news (the ita