Bank of Canada to end quantitative tightening earlier than expected
The Bank of Canada expects to end quantitative tightening in the first half of this year and return to more normal asset purchasing levels, likely becoming the first major central bank to unwind its pandemic asset purchases.
Mortgage Digest: CREA updates 2025 forecast with higher sales and price growth
A regular review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.
Bank of Canada rate hikes in 2026? National Bank thinks so.
Just when Canadians thought Bank of Canada rate hikes were behind us, one major bank is now forecasting their return as early as next year.
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- Bank of Canada rate hikes in 2026? National Bank thinks so.
- 60% of Canadian mortgage renewals to face higher rates by 2026: BoC
- Canada’s Secondary Suite Loan Program expands to $80,000 loans with 2% over 15 years
- Whiplash in Canada’s bond market signals rate roller-coaster ahead, experts say
- Housing and interest rate forecasts for 2025
The Mortgage Magazine
Features • Mortgage Industry News
Recognizing leaders in Canadian mortgages: New inductees join the Hall of Fame
This week, Canada’s mortgage industry gathered to celebrate the remarkable achievements of this year’s Mortgage Hall of Fame inductees.
How extreme weather events are reshaping mortgage risks
Climate-related disasters have been dominating headlines for years now, but their increasing frequency and severity are becoming more apparent.
How artificial intelligence is revolutionizing the mortgage origination process
With its ability to analyze vast amounts of data, automate processes and provide valuable insights, AI is reshaping the way mortgages are originated, underwritten and serviced.
Features • Mortgage Interviews
Embracing diversity: Hear first-hand how the mortgage industry benefits by fostering inclusion
When Jeremy Hamelin was about to enter the mortgage industry four years ago, he admits he had some preconceived notions about how he may—or may not—be accepted by colleagues and clients.
January 17, 2025 • Views: 3,417
Whiplash in Canada’s bond market signals rate roller-coaster ahead, experts say
When it comes to predicting mortgage rates, the only thing Canada’s mortgage experts are certain of right now is that nothing is certain.
January 14, 2025 • One Comment • Views: 70,066
Bank of Canada rate hikes in 2026? National Bank thinks so.
Just when Canadians thought Bank of Canada rate hikes were behind us, one major bank is now...
January 13, 2025 • Views: 17,581
60% of Canadian mortgage renewals to face higher rates by 2026: BoC
Despite interest rates having fallen materially in 2024, recent data show that many Canadian...
January 8, 2025 • Views: 1,328
U.S. Fed minutes signal cautious approach to rate cuts, January pause likely
The Federal Open Market Committee’s (FOMC) latest minutes from its December 17-18 meeting reveal...
January 16, 2025 • Views: 1,306
Mortgage Digest: CREA updates 2025 forecast with higher sales and price growth
A regular review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.
January 9, 2025 • Views: 881
Fairstone Bank and Home Trust finalize merger
Fairstone Bank of Canada and Home Trust Company have officially completed their merger, marking a...
January 7, 2025 • Views: 1,550
Bank CEOs see mortgage risk easing as attention turns to political uncertainty
The heads of Canada's biggest banks are finally seeing risks around mortgage renewals easing, only...
December 31, 2024 • Views: 2,215
2024 mortgage market: A year in review
The past year marked a turning point for Canada’s housing and mortgage market, with rate hikes...
January 17, 2025 • Views: 1,867
Bank of Canada to end quantitative tightening earlier than expected
The Bank of Canada expects to end quantitative tightening in the first half of this year and return to more normal asset purchasing levels, likely becoming the first major central bank to unwind its pandemic asset purchases.
December 24, 2024 • Views: 5,949
Bank of Canada deliberations reveal ‘close call’ on 50-bps rate cut
The Bank of Canada’s Governing Council faced a “close call” when deciding to proceed with...
December 11, 2024 • Views: 18,004
Bank of Canada cuts rates another 50 bps, bringing more relief to some borrowers
The Bank of Canada has cut its policy rate by another 50 basis points today, bringing it down to...
December 9, 2024 • Views: 5,784
Scotiabank: The Bank of Canada will likely deliver a 50-bps rate cut this week—here’s why it shouldn’t
In a recent analysis, Scotiabank's Derek Holt suggests that the Bank of Canada is likely to...
January 15, 2025 • Views: 548
National home sales finish strong in 2024, as association forecasts rebound this year
The number of homes that changed hands across the country in December was up 19.2% compared with a year earlier, as the Canadian Real Estate Association says a strong fourth quarter bodes well for a rebound in sales in 2025.
January 9, 2025 • Views: 1,677
Average rents across Canada fall to lowest level in over a year
The average asking rent across Canada fell to $2,109 in December, marking its lowest point in 17...
December 31, 2024 • Views: 1,518
Housing market poised for 2025 comeback as lower rates unleash pent-up demand
As the calendar flipped one year ago, Canadian real estate watchers were optimistic a sluggish 2023...
December 30, 2024 • One Comment • Views: 94,168
Housing and interest rate forecasts for 2025
As we reflect on 2024, it was a year of resilience and adjustment for Canada’s housing and...
January 16, 2025 • Views: 195
CMHC says total housing starts in 2024 up 2% from 2023
Canada Mortgage and Housing Corp. says the total number of housing starts in 2024 rose two per cent compared with 2023, helped by increased starts in Alberta, Quebec and the Atlantic provinces.
January 15, 2025 • Views: 438
U.S. core inflation eases, but Fed rate cut this month remains unlikely
U.S. inflation rose for the second straight month, though core inflation showed modest signs of easing. Still, economists say it likely won’t be enough to warrant a Fed rate cut later this month.
January 11, 2025 • Views: 1,229
Canada’s home renovation costs are still climbing, but the pace is slowing
Home reno costs in Canada continued to climb in Q3, driven by higher roofing and window expenses, with many homeowners relying on their home equity to fund these projects.
January 10, 2025 • Views: 2,204
Strong job growth in December raises doubts about January rate cut
As Canada’s job market surged in December, economists are now questioning whether the Bank of Canada will move forward with another rate cut this month.
Government and Regulation • Mortgage Industry News
December 19, 2024 • Views: 10,111
EXCLUSIVE: BMO brings back OSFI’s stress test for uninsured mortgage switches
The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers.
December 17, 2024 • Views: 325
OSFI holds domestic stability buffer at 3.5%, cites stable but lingering risks
Canada’s banking regulator announced no change to the amount of capital banks must keep on hand to cover potential future losses.
December 16, 2024 • Views: 2,351
Housing initiatives take centre stage in Fall Economic Statement amid political turmoil
It was a dramatic day in Ottawa as Finance Minister Chrystia Freeland resigned from cabinet just hours before she was scheduled to deliver the government’s Fall Economic Statement (FES).
December 16, 2024 • Views: 206
Liberal Housing Minister Sean Fraser says he won’t seek re-election
Housing Minister Sean Fraser says he will not be running in the next federal election, citing family reasons.
December 8, 2024 • Views: 1,019
BMO’s loan loss provisions surge in Q4, but execs say credit strain appears to have peaked
BMO’s credit performance worsened more than expected, contributing to a 15% year-over-year decline in adjusted full-year earnings.
December 5, 2024 • Views: 1,311
Despite tough quarter, TD sees year-over-year market share gains in mortgage lending
Despite ongoing anti-money laundering (AML) remediation efforts, TD Bank saw growth in its mortgage lending business in Q4, with year-over-year market share gains.
December 4, 2024 • Views: 36,895
Some mortgage borrowers renewing in 2025 to face an average $513 monthly payment increase: RBC
RBC also reported a sharp drop in remaining amortization periods thanks to Bank of Canada rate cuts in the fourth quarter.
December 3, 2024 • One Comment • Views: 2,358
Scotiabank sees rise in mortgage arrears but remains optimistic about renewals
In its fourth-quarter earnings call, the bank said higher-for-longer interest rates and elevated unemployment levels have put stress on some aspects of its portfolio.
November 27, 2024 • Views: 1,228
Cautious optimism: How brokers should be approaching AI
As a mortgage broker, it seems that no matter where you go—you can’t escape the AI buzz.
November 25, 2024 • Views: 890
New platform supports mortgage brokers with mentorship and mental health strategies
New platform aims to bridge the gap for new mortgage brokers with mentorship, business guidance, and mental health strategies
July 20, 2024 • 2 Comments • Views: 7,065
Fastkey facilitates quick and secure CRA document access for lenders and brokers
Emerging fintech Fastkey revolutionizes the mortgage and loan application process, providing lenders and brokers with efficient and secure access to vital CRA documents.
March 14, 2024 • 9 Comments • Views: 571
Bloom unveils new home equity prepaid Mastercard as novel way for seniors to fund retirement
A first-of-its-kind product by Toronto-based Bloom Financial is offering an innovative solution for seniors struggling to fund their retirement in the face of rising costs.
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September 27, 2023 • Views: 184
How mortgage brokers can capitalize on the popularity of text messaging
A full 90% of young people between the ages of 18 and 29 favour text messaging as their primary...
June 26, 2023 • Views: 204
Unleashing the power of LinkedIn: essential strategies and hidden gems for mortgage professionals
In today's digital age, LinkedIn has become a powerful tool for professionals across industries to...
June 1, 2023 • One Comment • Views: 230
Creating engaging mortgage content: how to build trust and authority for your clients
Brokers need to be well-informed about market trends, interest rates, policy changes, and economic...
April 3, 2023 • Views: 448
What you need to know about FSRA’s new licensing requirements for private mortgages
New licensing categories are now in effect for all Ontario brokers and agents starting in April....
March 31, 2023 • Views: 226
How mortgage brokers can unlock the power of personal video messages
It's important to find ways to connect with potential clients and build trust. By recording a video...
February 22, 2023 • Views: 132
‘Business for self’ clients are on the rise. How do you secure a mortgage for one?
Roughly 2.9 million Canadians were self-employed in 2018, according to Statistics Canada, and many...
January 6, 2025 • One Comment • Views: 3,790
Pre-construction purchases: Beware of closing day surprises
Recently, we helped a couple navigate the process of buying a pre-construction condo townhome....
January 3, 2025 • Views: 2,470
New year, better mortgage rates: Credit tips to get you there
As we step into a new year, it’s a great time to reassess your financial habits and ensure your...
December 24, 2024 • Views: 1,434
A First Home Savings Account should be on every first-time buyer’s holiday wish list
Introduced in April 2023, the First Home Savings Account (FHSA) is a game-changer for Canadians...
December 22, 2024 • Views: 2,608
Thinking of gifting a down payment this holiday season? Here’s what you should know
With the holiday season in full swing, many Canadians are focused on gift giving. For some, that...
November 28, 2024 • Views: 1,124
Helping retired Canadians navigate financial challenges: A solution for brokers
Retirement is often considered a time to relax and enjoy the fruits of decades of hard work....
November 10, 2024 • One Comment • Views: 6,094
Pros and cons of a 10-year fixed mortgage: Is stability worth the cost?
The 10-year mortgage has long been a niche product in the Canadian mortgage market....
Mortgage Interviews • Sponsored post
January 17, 2024 • Views: 239
From tragedy to triumph: Donna MacDonald’s journey to financial leadership
Mortgage broker Donna MacDonald’s journey from tragedy to triumph is a story of resilience and reinvention.
Mortgage Interviews • Sponsored post
January 3, 2024 • Views: 201
Manulife One’s modern innovation meets Nick L’Ecuyer’s old school charm
There are fewer places left where Canadians can get holistic mortgage and financial advice from a familiar member of the local community. Thanks to mortgage broker Nick L’Ecuyer, Simcoe County is one of them.
Mortgage Interviews • Sponsored post
October 30, 2023 • Views: 176
From hopeless to homeowners: how Lisa Holly is changing lives with tailored mortgage solutions
For Lisa Holly, sales achievements don’t define her success. Helping people in ways that make a difference is what really matters to the London, Ontario-based mortgage broker—especially with clients other brokers couldn’t assist.
October 26, 2023 • Views: 179
Navigating to the top: women leaders in the mortgage and real estate industries share their stories
In a field traditionally dominated by men, a shift is underway within the offices of Canada’s mortgage and real estate industries. Women are now stepping into the limelight, assuming leadership roles and reshaping industry norms.
Mortgage Strategies • Sponsored post
November 28, 2024 • Views: 1,124
Helping retired Canadians navigate financial challenges: A solution for brokers
Retirement is often considered a time to relax and enjoy the fruits of decades of hard work. However, for a growing number of Canadians 55 and older, this picture is clouded by financial uncertainty.
Mortgage Industry News • Sponsored post
October 10, 2024 • Views: 1,311
Manulife’s Natasha Duric: A 30-year mortgage career built on leadership and innovation
Natasha Duric describes her entry into the mortgage industry as “a fluke.”
Mortgage Strategies • Sponsored post
September 24, 2024 • Views: 1,005
Unlocking the secrets to growing your business with the 55+ demographic
In today’s competitive market, mortgage brokers are continuously seeking ways to diversify and grow their client base.
August 6, 2024 • Views: 1,787
Mortgage brokers: Are you asking the right questions when choosing a mortgage brokerage?
As a mortgage broker, you negotiate tirelessly to secure the best rates and terms for your clients. But have you applied the same diligence to selecting your brokerage?
January 1, 2025 • Views: 914
New year, new budget: A step-by-step guide on how to refresh your finances
A simple copy and paste of your 2024 budget isn't enough to help you achieve your goals and...
December 27, 2024 • Views: 130
Unwanted gift card in your stocking? Don’t let it go to waste
Gift cards can be a quick and easy present for those who don't know what to buy and offer the...
December 5, 2024 • Views: 638
The GST tax holiday is coming but will the savings actually make a difference?
While many Canadians highly anticipate the federal government's upcoming GST holiday, experts say...
November 22, 2024 • Views: 711
Retiring? Here’s how to switch from saving for your golden years to spending
The last paycheque from a decades-long career arrives next Friday and the nest egg you built during...
October 31, 2024 • Views: 3,392
What you need to know before helping your child with a home down payment
With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the...
October 18, 2024 • Views: 732
Boundaries, communication are key for parents running the Bank of Mom and Dad
In a world of sky-high home prices and rising cost of living, many parents are inclined to...
January 2, 2025 • Views: 1,066
Balancing business and life: New Year’s resolutions for mortgage brokers
A new year is upon us, and for many in the brokering world that means new goals, new targets and...
December 18, 2024 • 3 Comments • Views: 18,909
Fed minutes spark market turmoil: Making sense of it and why Canadian mortgage rates are likely to rise
I thought it would be really hard to top Monday’s chaotic events in Parliament, but it looks...
October 28, 2024 • 5 Comments • Views: 20,986
Pros and cons of the new federal secondary suite programs
Comparing two federal programs to help Canadians build rental suites: a $40,000 loan or a mortgage...
October 7, 2024 • Views: 4,408
Weeks of cuts give way to mortgage rate hikes as U.S. job numbers soar
While everyone has been enjoying some amazing fall weather, the temperature isn't the only thing...
October 2, 2024 • 5 Comments • Views: 2,004
Forget the comparisons: success in brokering comes in many forms
I am tired of being told I am doing it wrong....
September 11, 2024 • Views: 4,004
Challenges and opportunities for mortgage brokers in the current rate cycle
The current rate environment presents new hurdles for mortgage brokers while also opening up...
Regional News
January 13, 2025 • Views: 316
Toronto’s proposed 2025 budget includes 6.9 per cent property tax increase
The City of Toronto is proposing to increase property taxes by 6.9% this year to help fund its $18.8 billion operating budget for 2025.
January 13, 2025 • Views: 449
Strong finish for Ottawa’s real estate market in 2024
Ottawa’s real estate market wrapped up 2024 with a solid uptick in activity, as December home sales rose 7.9% year-over-year.
January 7, 2025 • Views: 388
Greater Toronto home sales dip in December to cap ‘transitionary’ 2024: board
Greater Toronto home sales fell slightly last month to cap a year that saw buyers take advantage of “substantial negotiating power” on price.
January 8, 2025 • Views: 491
Montreal home sales surge 54% in December as market momentum builds
Home sales in the Montreal region kept climbing in December, with 54.1% more properties changing hands compared to the same time last year, according to the Quebec Professional Association of Real Estate Brokers.
December 22, 2024 • Views: 172
Workers helping the homeless in Montreal feel powerless as crisis deepens
Social workers on the front lines of homelessness in Montreal say they feel increasingly powerless as more people find themselves forced to live in tents during the winter.
December 5, 2024 • Views: 687
Montreal home sales jump 47% in November while prices rose across all property types
Along with the surge in activity, Montreal also saw average single-family home prices rise by 11% compared to last year.
January 17, 2025 • Views: 407
Impact of Trump tariffs on Metro Vancouver real estate likely short-lived: report
A residential market sales forecast by Greater Vancouver Realtors says the impact of possible tariffs from the United States would likely be short-lived.
January 4, 2025 • Views: 623
Uptick in Vancouver home sales last month caps ‘pivot year’ for market: board
Greater Vancouver home sales rose 31.2% on a year-over-year basis in December, capping a “pivot year” for the market that saw the number of homes changing hands in the region tick higher.
January 3, 2025 • Views: 227
B.C. property values flat across most of province, but affordability remains elusive
British Columbia’s latest property assessments show values remain generally flat compared to the previous year, but researchers warn the numbers don’t herald housing affordability in the famously expensive province.
January 14, 2025 • Views: 208
The Manitoba government is buying properties as part of homelessness plan
The Manitoba government is buying apartment buildings and plans to start clearing encampments next month as part of its long-term strategy to reduce homelessness.
January 8, 2025 • Views: 306
Saskatchewan town sees flurry of construction with $30K housing cheque program
An official with a town in southeastern Saskatchewan says its plan to offer $30,000 cheques to anyone building homes in the community is paying off.
January 3, 2025 • Views: 296
Calgary home sales down in December but still above long-term trends: board
Calgary home sales declined in December from the previous year’s levels but remained nearly 20% higher than long-term trends.
December 17, 2024 • Views: 111
Halifax mayor says city is past the worst of its housing crisis, advocates disagree
The worst of Halifax’s homeless crisis is over, says the city’s new mayor, who wants to see encampments closed as quickly as possible — even as homelessness advocates vigorously disagree that the situation is improving.
December 8, 2024 • Views: 204
3 in 10 residential property buyers in N.S. were investors in 2018-2020: StatCan
Statistics Canada says investors represented three in 10 residential property buyers in Nova Scotia between 2018 and 2020 — the highest volume of such buyers among provinces where data is available.
November 26, 2024 • Views: 123
N.S. Tories seek ‘fresh’ mandate in Tuesday’s election to negotiate with Ottawa
Progressive Conservative Leader Tim Houston says if he’s given a second mandate in Tuesday’s election, it will strengthen his position to fight Ottawa on key issues impacting the province, including carbon pricing.