Canada's largest non-bank lender says it has not yet encountered any issues with its mortgage borrowers renewing at higher interest rates.
First National wrapped up a "successful" 2023 in spite challenging economic conditions and a drop in residential mortgage originations.
Canada's largest non-bank lender says it hasn't seen any signs of stress among its adjustable-rate nor fixed-rate borrowers who are renewing at higher rates.
Against a challenging economic backdrop, First National managed to outperform in the third quarter thanks in part to continued strong mortgage originations.
Coming up as a leading player in small commercial lending, Glasslake is charting a new course as part of its strategic expansion.
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Strong mortgage volumes throughout the year helped drive third-quarter results for two of the country's key mortgage lenders in the third quarter.
On the heels of its third-quarter earnings report, alternative-lender Home Capital announced its board had approved a share-buyback of up to $300 million.
For the first time in five years, Home Capital Group will be paying its shareholders a dividend.
Home Capital saw its net income fall nearly 18% due to rising deposit costs, while the full impacts of rate increases are yet to effect its mortgage originations.
Despite rising interest rates, alternative lender Home Capital saw its mortgage originations jump over 40% in Q2 compared to last year.