Category: Financial insights

As the Bank of Canada lowers interest rates, mortgage borrowers will continue to opt for variable rate mortgages. According to Bank of Canada figures, as of the first quarter of this year, 12,9% of all new mortgages borrowers chose a variable rate mortgage. This is up from the low 4.2%...

Mortgage brokers' toolkits include a section on fraud prevention. This is a good thing. The Canadian Anti-Fraud Centre is expected to generate $1.3 billion in revenue by 2023. More than 63,000 documents have been processed Fraud caused staggering losses of $569,000,000. The Anti-Fraud Centre believes that these figures are likely...

For some homeowners, the topic of mortgage payments is a difficult one. They may be confused about when they are due or what period their payments cover. Recent misunderstandings between two clients highlighted the importance of clear and calm communication. We'll examine their situations and explain why mortgage payments were...

Many Canadians are becoming increasingly concerned about the shock of payment at renewal caused by shorter mortgage terms. Some have questioned whether longer mortgage terms similar to those used in the United States would offer greater financial stability. Although Canadian lenders theoretically offer 15-year, 20-year, 25-year, and even 30-year mortgages,...

Online mortgage lender Nesto says it has acquired mortgage finance company CMLS Group. CMLS Group, one of Canada’s largest independently owned real estate finance companies, offers a wide range of commercial lending services, residential mortgages and institutional services. The combined company will have over 1,000 employees across 10 offices and...

By Allison Jones Ontario is considering revising its tallies of how many homes are built in cities and towns across the province, after some complained that undercounting has cost them millions in provincial funding. As Premier Doug Ford’s government attempts to get 1.5 million homes built by 2031 it has...

. By Michael MacDonald Nova Scotia has changed the rules that apply to those paying a set amount for housing in public. The government claims this is done for fairness and consistency. John Lohr, the Housing Minister, announced the change on Thursday. He said that, over the next 4 years,...

The federal and Quebec governments have announced nearly $60 million a year for the next two years to get unhoused Montrealers a roof over their heads. Ottawa and Quebec are putting up $57.5 million per year to develop emergency and transitional housing projects for people experiencing homelessness in Montreal. The...

Before announcing the Bank of Canada’s rate reduction this month, the Bank’s senior decision makers expressed concern that the relief in rates could overheat housing markets. According to the most recent Summary of Deliberations The Bank of Canada Meeting on June 5, monetary policy. Its six member Governing council voted...

Three of Canada's six largest banks are among the lenders who have been reducing fixed rates on mortgages. This is a good sign for anyone facing re-financing in the near future. We are a team of professionals who can help you. Last week's reportLenders had begun reducing rates after a...