Despite detached home prices in Toronto and Vancouver posting year-over-year declines in the first half of the year, a longer-term view shows prices are still elevated, and in many cases higher compared to two or three years ago.
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.
AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception.
Filogix, one of the mortgage industry's leading technology platforms, announced a five-year-deal with Axiom Innovations recently to help brokers across Canada secure deals more efficiently.
The Bank of Canada is investigating a growing trend of borrowers extending their mortgage amortization periods amid persistently high interest rates and ongoing inflationary pressures.
Roughly 2.9 million Canadians were self-employed in 2018, according to Statistics Canada, and many of them are keen to buy a home.
According to the latest data from the Canadian Real Estate Association, national home sales declined 3% month-over-month in January, their lowest level since 2009.
Many mortgage brokers are fielding calls from clients concerned about rising interest rates and an uncertain economic outlook.
The Bank of Canada’s leadership appears to be torn over whether Canada’s housing market will brush off be further impacted by the higher interest rates.
High rates haven't stopped Canadians from tapping their home equity by way of reverse mortgages.