Rates have substantially increased over the last 6 of months. We have seen 3 prime rate increases with more on the horizon. Fixed rate mortgages have also followed suit due to bond market instability and the increases are noticeable. Consumer’s have rapidly moved from Adjustable rate products to longer term Fixed rates of 5 years or greater.  Fixed […]

When you purchase a property, you may be a little overwhelmed by all the insurance offers related to the purchase of said property. Mortgage Insurance, Condo Insurance, Mortgage Default Insurance, Earthquake Insurance; the list goes on and on. It can be confusing, and it is important to know what insurance covers what. For instance, Mortgage […]

On October 17th 2017 the Office of Superintendent of Financial Institutions announced several new regulatory changes that will take effect on January 1st, 2018. Here is a summary of what you need to know about the upcoming changes. Important Terms To Know Before Reading Insured Mortgage / High Ratio Mortgage: Less than 20% down payment. […]

Exactly One Year Ago One year ago OFSI said that they would review its B-20 guidelines scrutinize the standards even more. Last week they fulfilled what they said. Last Thursday, The Office of the Superintendent of Financial Institutions released various proposals that paved the way for more regulation with Canadian mortgage standards. This mainly applies […]

Bank of Canada Jan 18th Announcement – Key Notes: The central bank is keeping its key interest rate in place with the Canadian economy showing signs of improvement _ but it also warns of the significant uncertainty tied to potential policy changes by the United States, its largest trading partner. This is the bank’s first […]

The Globe and Mail – Published Monday, Nov. 14, 2016 10:39AM EST Beware what you wish for, Mr. Trump. On Labour Day, Donald Trump, then a long shot for the White House, now president-elect, decried ultralow interest rates. They have created a “false economy,” the Orange One bellowed, and that “at some point, the rates […]

There has been no shortage of opinion following the recently announced mortgage rule changes, and the country’s largest network has now weighed in. “The new mortgage rules announced by the Federal Government on October 3, 2016 caught the entire industry by surprise and we continue to assess the potential impacts of these changes”, Gary Mauris, […]

10/03/2016 The Liberal government has announced sweeping changes aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates. The changes are also meant to address concerns related to foreign buyers who buy and flip Canadian homes. Below is a breakdown of the four major […]

Five previous federal housing moves since 2008 Monday’s package of announcements is the sixth time since the onset of the 2008 financial crisis that Ottawa has taken policy action in response to concerns about Canada’s housing market. July, 2008: After briefly allowing the CMHC to insure high-ratio mortgages with a 40-year amortization period, then Conservative finance […]