OSFI delays capital floor level changes

OSFI delays capital floor increase for banks amid competitive imbalance concerns

OSFI is pushing back implementation of a rule change that could have significant implications for Canadian lenders
Home sales activity in June 2024 showed signs of renewed life following the Bank of Canada's interest rate cut at the beginning of the month.
U.S. financial markets got a boost today with a lower-than-expected inflation reading, marking the lowest level since May 2020.
Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada's quarter-point cut to its key interest rate last month did not lead to a rush in demand.

The Mortgage Magazine

Interest Rates

Views: 237

Canadian bond yields rebound sharply, sending some mortgage rates higher

After being on a downward path for the past two months, Canadian bond yields have reversed course and are once again on the rise.

Views: 257

Three big banks just slashed fixed mortgage rates: “Great news” for those facing renewal

Lenders across the country, including three of Canada's Big 6 banks, are once again busy slashing...

Views: 92

Fixed mortgage rates are falling. Experts explain why and weigh in on fixed vs. variable

Both existing homeowners and new homebuyers are benefiting from a drop in interest rates see over...

Views: 6

Majority of aspiring homeowners awaiting rate cuts before buying: BMO survey

The majority of Canadians aspiring to buy a home say they will push their plans to next year or...

Mortgage Industry News

Views: 19,583

Weekly mortgage digest: Which big banks just dropped fixed rates?

After a spike in bond yields last week prompted some mortgage lenders to increase certain rates, fixed mortgage rates are again trending downward.

Views: 218

The latest mortgage news: Variable-rate mortgages are making a comeback

Mortgage borrowers are increasingly opting for variable-rate mortgages, a trend that is expected to...

Views: 20

Online mortgage lender Nesto acquires mortgage finance company CMLS Group

Online mortgage lender Nesto says it has acquired mortgage finance company CMLS Group. ...

Views: 29

Latest in mortgage news: Borrowers must adapt to ‘new normal’ of higher rates, says Macklem

Interest rates may slowly start to be easing around the world, but they won't be returning to...

Bank of CanadaEconomic news

Views: 886

Will rising unemployment hasten the Bank of Canada’s coming rate cuts?

Canada’s labour market stumbled in June, with the unemployment rate rising to 6.4%, up from the previous month.

• 2 Comments Views: 30

Bank of Canada officials worry that rate cuts may overheat the housing market

The Bank of Canada's top decision-makers expressed concerns before announcing this month's interest...

• One Comment Views: 15

What the Bank of Canada rate cut means for mortgages, consumer loans and investments

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75%,...

Views: 8

Bank of Canada’s rate cut could spur housing demand as Toronto home sales fall in May

Real estate market analysts say the Bank of Canada's much anticipated decision to lower its key...

Real Estate

Views: 55

CREA cuts housing market forecast for 2024 despite June sales rising

CREA has lowered its housing market forecast for 2024, citing increased supply levels and a slow spring season due to fewer anticipated interest rate cuts in 2024.

Views: 312

June home sales up 3.7% as market responds to BoC rate cut and possibly capital gains changes

Home sales activity in June 2024 showed signs of renewed life following the Bank of Canada's...

Views: 350

Interest rate cut hasn’t led to rush of homebuyer demand yet: Royal LePage report

Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new...

Views: 416

Canadian rent price growth slows to lowest level in 13 months

In June, the average rent price in Canada rose 7% year-over-year, marking the slowest growth rate...

Economic news

Views: 1,790

U.S. inflation eased in June: Good news for Canadian mortgage shoppers

U.S. financial markets got a boost today with a lower-than-expected inflation reading, marking the lowest level since May 2020.

Bank of CanadaEconomic news

Views: 886

Will rising unemployment hasten the Bank of Canada’s coming rate cuts?

Canada’s labour market stumbled in June, with the unemployment rate rising to 6.4%, up from the previous month.

Bank of CanadaEconomic news

Views: 12

Soft GDP figures point to a BoC rate cut next week, but uncertainty remains

Canada’s economy slowed more than expected in the first quarter, raising the odds of an interest rate cut next week by the Bank of Canada, economists say.

Economic news

Views: 5

Immigration provides important buffer for Canadian economy as population greys: RBC

High levels of immigration are helping blunt the economic impact of Canada’s aging population even though it’s worsened challenges with housing affordability, a report by RBC says.

Government and Regulation

Views: 601

OSFI delays capital floor increase for banks amid competitive imbalance concerns

OSFI is pushing back implementation of a rule change that could have significant implications for Canadian lenders

Government and Regulation

Views: 43

FSRA CEO Mark White to step down for new position as Chair of Ontario Energy Board

The head of Ontario’s mortgage broker regulator, Mark White, has confirmed he will be stepping down from his role as CEO later this month.

Government and Regulation

• One Comment Views: 10

OSFI doubles down on keeping stress test for uninsured mortgage switches

The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.

Government and RegulationMortgage Industry News

Views: 18

OSFI says mortgage payment shock poses a key risk to Canada’s financial system

Canada’s banking regulator says high borrowing costs and a wave of expected renewals pose a key risk to Canada’s financial system.

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Keep up with Canadian Mortgage Trends by following us on our social media channels such as Facebook, X and LinkedIn. 

Quarterly Earnings

Views: 16

RBC sees rise in mortgage delinquencies as ‘pockets of stress’ emerge in portfolio

While RBC says most of its clients remain resilient despite higher interest rates and rising payments, the bank acknowledges ‘pockets of stress’ among select borrowers.

Quarterly Earnings

Views: 12

EQB sees impaired loans double in Q2, but expects improvement ahead

Alternative mortgage lender EQB saw a rise in gross impaired loans in the second quarter compared to a year ago, but highlighted recent improvements and expects losses to stabilize going forward.

Quarterly Earnings

Views: 14

BMO reports increased delinquencies, predicts prolonged high interest rates

BMO reported a rise in delinquencies in the second quarter and said it expects credit challenges to persist with interest rates now likely...

Quarterly Earnings

• One Comment Views: 31

Scotiabank says variable-rate mortgage clients “showing signs of stress”

Scotiabank says high interest rates are increasingly weighing on consumers, resulting in a credit deterioration among its variable-rate mortgage customers.

Mortgage Tech News

• 3 Comments Views: 18

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.

Mortgage Tech News

Views: 27

Mortgage industry veteran channels decades of experience into new lead conversion tool

Russ Morrison spent 25 years as a mortgage broker honing his lead conversion strategy, and the last three and a half building a software program that can do the same for others.

Mortgage Tech News

Views: 21

Why mortgage brokers are embracing ‘digital onboarding’ and not looking back

For much of the mortgage industry’s history, brokers required a mountain of paperwork from prospective clients to ensure they’d actually be approved by a willing lender.

Mortgage InterviewsMortgage Tech NewsSponsored post

Views: 5

Manulife One: A lifesaver for homeowner-turned-broker facing financial crisis

It’s hardly an exaggeration to say that Manulife One has saved Leanne Myles from personal, professional and financial catastrophe several times over.

Get the latest News

Join our mailing list for the latest mortgage news and updates delivered straight to your inbox. (Don’t worry, you can always opt out at any time)

Views: 5

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...

Views: 7

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...

• One Comment Views: 7

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...

Views: 6

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....

Views: 4

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...

Views: 5

‘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...

• One Comment Views: 48

The growing risk of mortgage fraud and how to protect clients

Helping to safeguard clients against fraud has become an important component of a mortgage...

Views: 59

Mortgage payments: Understanding timing and avoiding confusion

Mortgage payments can sometimes be a tricky topic for some homeowners, leading to confusion about...

Views: 32

Are longer mortgage terms the solution to Canada’s payment shock challenges?

Payment shocks at renewal due to shorter mortgage terms have become a growing concern. This has led...

• 2 Comments Views: 47

Borrowers leaving money on the table by not negotiating their mortgage renewal rates

According to a recent survey conducted Mortgage Professionals Canada, Canadians are doing less...

Views: 16

Why you shouldn’t fear a credit score drop when applying for a mortgage

In the complex world of home financing, a common concern among our clients involves the impact of...

• 3 Comments Views: 14

The prospect of halal mortgages in Canada: What you need to know

Since Ali Najaf moved from Pakistan to Vancouver as a student in 2012, he has earned a degree,...

Mortgage InterviewsSponsored post

Views: 6

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 InterviewsSponsored post

Views: 3

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 InterviewsSponsored post

Views: 7

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.

Mortgage Interviews

Views: 4

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 StrategiesSponsored post

• One Comment Views: 48

The growing risk of mortgage fraud and how to protect clients

Helping to safeguard clients against fraud has become an important component of a mortgage broker’s toolkit, and for good reason.

Mortgage StrategiesSponsored post

Views: 10

Preparing for the next wave of renewals: Manulife’s unique solutions

The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it.

Mortgage StrategiesSponsored post

Views: 11

Financial freedom for Canadians 55+: HomeEquity Bank boosts CHIP Reverse Mortgage support for the broker channel

HomeEquity Bank is steadfastly committed to providing older Canadians with the means to enjoy their retirement years with greater confidence by enhancing our efforts to collaborate with the mortgage broker channel.

Mortgage InterviewsSponsored post

Views: 6

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.

Views: 31

Why young people keep getting caught in debt traps and how to break the cycle

Between inflation, housing costs and interest rates, debt is ballooning for many younger Canadians....

Views: 59

Mortgage payments: Understanding timing and avoiding confusion

Mortgage payments can sometimes be a tricky topic for some homeowners, leading to confusion about...

• One Comment Views: 15

What the Bank of Canada rate cut means for mortgages, consumer loans and investments

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75%,...

Views: 5

Options to boost credit scores are growing, but principles remain the same

Both a little opaque on how they’re calculated and sometimes painfully clear in what they say,...

Views: 5

Owe the tax man but can’t pay? Ignoring the problem will only make things worse

The tax filing deadline has come and gone, and some Canadians are now facing a significant tax...

• One Comment Views: 8

Opinion: Are fixed mortgage rates poised to rise? Here’s why I think so.

It seems that the Canadian bond market has a spring in its step these days. After hitting a low...

• One Comment Views: 3

Opinion: How to bridge the housing affordability gap for a generation without a home

Over the next few days, the new federal cabinet will gather in P.E.I. for their summer retreat....

• One Comment Views: 4

Long-term prospects for Canadian home prices are positive

The decline in national home prices this year will not turn into a prolonged downfall like the one...

Views: 3

Who will blink first, Toronto’s homebuyers or home sellers?

What could be the reason for this unexpected strength in Toronto home prices? And what is the...

Views: 16

Mortgage rate pricing: Canada vs. the U.S.

Sometimes you just don’t know how good or bad you have it. Take the mortgage business, for...

Views: 7

How the mortgage stress test is impacting qualification amounts

As of June 2022, we are currently seeing unnatural discrepancies in the size of mortgage loans...

Regional News

Views: 35

Greater Toronto home sales down 16% in June despite Bank of Canada’s rate cut: board

The Toronto Regional Real Estate Board says home sales in June declined 16.4% from last year, with...

Views: 8

Ontario considers housing data revisions after municipal concerns of undercounting

Ontario is considering revising its tallies of how many homes are built in cities and towns across...

Views: 25

An overview of housing promises from all of the 2024 provincial budgets

Housing is arguably Canada’s most important policy issue right now. From building millions of new...

Views: 11

FSRA strips licences of 29 Ontario mortgage brokerages

FSRA has revoked the licences of 29 brokers who did not appoint a principal broker, failed to file...

Views: 4

Are Ontario’s 2024 budget housing policies enough to address the supply crisis?

As part of its $214.5 billion 2024 budget unveiled today, the Government of Ontario rolled out...

• 2 Comments Views: 6

Relicensing deadline looms for thousands of Ontario brokers who have yet to complete requirements

With just days remaining, FSRA says thousands of Ontario agents and brokers still haven’t...

Views: 38

Montreal home sales rise in June as prices continue to climb: real estate board

The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 6.4%...

Views: 5

On Quebec’s traditional moving day, hundreds of renters are still looking for a home

It’s moving day in Quebec, and Mario Lortie is leaving his apartment of 27 years....

Views: 4

Homelessness: Quebec, Ottawa announce $115 million for emergency housing in Montreal

The federal and Quebec governments have announced nearly $60 million a year for the next two years...

Views: 3

Montreal home sales up 25% in April as expected rate cuts prompt recovery: board

The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales surged...

Views: 25

An overview of housing promises from all of the 2024 provincial budgets

Housing is arguably Canada’s most important policy issue right now. From building millions of new...

Views: 9

Mortgage activity in Quebec fell 16% last year amid higher rates

Rising interest rates, compounded by stricter qualification rules, led to a 16% decline in mortgage...

Views: 17

Vancouver home sales fall 19% in June as inventory continues to build: board

Greater Vancouver's real estate board says the number of homes sold in June tumbled 19.1% from the...

Views: 25

An overview of housing promises from all of the 2024 provincial budgets

Housing is arguably Canada’s most important policy issue right now. From building millions of new...

• 2 Comments Views: 3

B.C. government targets ‘profiteers’ with legislation to bring in 20% flipping tax

British Columbia has tabled legislation to enact a 20 per cent flipping tax on those who sell their...

Views: 6

B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says

Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit...

Views: 7

Real estate association economist doubts B.C.’s flipping tax is worth the trouble

The chief economist of the British Columbia Real Estate Association says the incoming provincial...

Views: 8

B.C. Government Plans “Cooling Off” Period for Home Sales

The Government of British Columbia plans to inject some sober second thought into the province's...

Views: 25

An overview of housing promises from all of the 2024 provincial budgets

Housing is arguably Canada’s most important policy issue right now. From building millions of new...

Views: 12

BoC’s summer rate hikes continue to slow housing activity…except in Alberta and Atlantic Canada

Real estate markets across the country continued to lose steam in August following the latest Bank...

• 5 Comments Views: 10

Alberta’s Oilpatch: A Growing Minefield

In mid-2014 crude began one of its most precipitous declines on record, a plunge that has put...

Views: 5

NBC on Alberta Mortgage Defaults

We’ve seen the headlines about the softening housing market in Alberta and Saskatchewan. But...

Views: 2

New rules coming for tenants paying fixed rent in Nova Scotia’s public housing units

Nova Scotia is changing the rules for those who pay a fixed amount of rent for public housing, a...

Views: 25

An overview of housing promises from all of the 2024 provincial budgets

Housing is arguably Canada’s most important policy issue right now. From building millions of new...

Views: 12

BoC’s summer rate hikes continue to slow housing activity…except in Alberta and Atlantic Canada

Real estate markets across the country continued to lose steam in August following the latest Bank...

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