9/19/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well.

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More Fed cuts expected to push Canadian interest rates lower

  9/16/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud.

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23% of millennials justify lying on a mortgage application

  9/6/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests.

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Canadian mortgage borrowers have a 'rare opportunity'

  8/10/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes.

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Soaring House Prices Could Return As Interest Rates Head To Zero: BMO

  7/28/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate.

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With fixed rates below variable ones, mortgage market is in the Upside Down

  7/21/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years.

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Central bank qualifying rate used in mortgage stress tests falls

  7/18/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp.

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OREA calls for relaxed mortgage rules

  7/17/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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An increasing number of homeowners turned to alternative lenders last year, while new mortgage growth reached its slowest pace in more than a quarter of a century amid ... More

Alternative lenders increase share of slowing Canadian mortgage market: CMHC

  6/11/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices.

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Regulator defends mortgage stress test in face of pushback from industry

  5/31/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The Canada Revenue Agency has identified over a $1 billion in unpaid gross taxes in the real estate sector since 2015 and has doled out over $100 million in penalties.

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CRA identifies over $1b in tax evasion since 2015

  5/9/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ... More

BoC touts long-term mortgages to open MBS market

  5/1/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The Canadian government should consider being flexible on its new mortgage lending rules because the impact has been longer-lasting and more significant than expected, ... More

Scrapping Mortgage Rules Would Boost Canadian Home Prices, TD Says

  4/25/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage.

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Self-employed increasingly turning to private lenders for mortgages

  4/3/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The Bank of Canada is likely to stand pat on interest rates for the remainder of this year and well into 2020, according to the chief economist of BMO Financial Group.

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Bank of Canada 'going nowhere' with interest rates into 2020: Economist

  3/14/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Canada’s household debt levels will force around 1 in 5 people with debt to sell assets to stay above water.

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Rising debts could see rise of second mortgages

  3/6/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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More Canadians are running into serious issues with their mortgage payments according to a new report.

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Mortgage delinquencies on the rise

  2/26/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Ten per cent of Canadians no longer qualify for a mortgage with banks.

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The mortgage 'stress test' has started harming Canadians more than it helps

  2/22/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The B-20 mandated stress test is already outdated considering current market realities, according to a real estate firm head.

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Stress test is already obsolete

  2/7/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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The federal government appears to be considering a budget announcement that would allow first-time homebuyers to obtain 30-year insured mortgages, up from the 25-year limit ... More

30-year insured mortgages could make a comeback

  2/6/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Canada’s banking regulator defended tougher mortgage underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility ... More

Regulator OSFI opens door to easing Canadian mortgage rules

  2/5/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Residential mortgage growth rose 3.1 per cent to $1.55 trillion in December from a year earlier, the slowest pace since May 2001, and half the growth rate from two years ago, ... More

Mortgage growth has shrunk to 17-year low

  1/30/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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News report had claimed Finance Minister was thinking about expanding rules, but he says he's not

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Morneau not considering extending mortgage stress test to cover more lenders

  1/25/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Canada is considering subjecting private lenders to the same mortgage stress test rules faced by banks to prevent housing markets from being destabilized by the lenders' ... More

Canada mulls measures to curb private lenders' growth

  1/22/2019 | Posted in Mortgages and Real Estate by Shavin Patel
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Those in the market for a Toronto home shouldn’t get too excited about the prospect of lower mortgage rates, says one economist.

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Lower mortgage rates won't do much for Toronto homebuyers

  12/14/2018 | Posted in Mortgages and Real Estate by Shavin Patel
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New B-20 rules have created an uneven playing field because stress tests don't apply to people renewing mortgages with their current lender

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Big banks tighten grip on mortgage market after rule changes stifle competition

  11/25/2018 | Posted in Mortgages and Real Estate by Shavin Patel
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The main reason that 15% of Canadian homeowners refinanced their homes was to consolidate debt.

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The main reason Canadian homeowners refinance

  11/14/2018 | Posted in Mortgages and Real Estate by Shavin Patel
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The bank says stress tests and higher interest rates have reduced the share of new high-leverage, insured loans to six per cent from 20 per cent in late 2016.

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Mortgage risks fading as Bank of Canada sees dramatic drop in highly indebted borrowers

  11/6/2018 | Posted in Mortgages and Real Estate by Shavin Patel
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As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher ... More

Mortgage renewals have entered a new era
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