mortgage professionals canada Archives - Mortgage Rates & Mortgage Broker News in Canada

OSFI to eliminate stress test for uninsured mortgage switches starting November 21

September 25, 2024 1 Comment

OSFI has confirmed that it will remove the requirement for lenders to apply the Minimum Qualifying Rate (MQR) to straight switches of uninsured mortgages.

Mortgage rule changes will help spark demand, but supply challenges persist: experts

September 18, 2024 No Comments

Experts say Ottawa’s changes to mortgage rules could help spur demand among potential homebuyers, but supply challenges are likely to persist in Canada’s real estate sector despite lofty goals to build new housing.

Banks and lenders cut fixed mortgage rates

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

June 18, 2024 No Comments

Lenders across the country, including three of Canada’s Big 6 banks, are once again busy slashing fixed mortgage rates—a welcome sign for those facing renewal in the coming months.

Canadians not negotiating their renewal rates

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

June 12, 2024 2 Comments

According to a recent survey conducted Mortgage Professionals Canada, Canadians are doing less haggling at renewal, despite most facing higher interest rates.

Exclusive: 76% of mortgage holders are anxious about their upcoming renewal: MPC survey

June 11, 2024 No Comments

Growing financial anxiety is affecting both Canadian mortgage holders and non-owners alike, according to the latest consumer survey from Mortgage Professionals Canada.

Feds commit to exploring CRA income verification in budget 2024 to address mortgage fraud

April 12, 2024 8 Comments

The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency.

Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes

April 11, 2024 2 Comments

Advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers.

Remembering Michael Ellenzweig and his contributions to Canada’s mortgage industry

March 1, 2024 2 Comments

Michael Ellenzweig aspired to be a mortgage broker ever since the age of 13. The rest, as they say, was history.

Clock ticking to private mortgage course deadline

The clock is ticking for Ontario brokers wanting to arrange private mortgages

November 16, 2023 No Comments

A reminder to Ontario brokers wanting to arrange private mortgage deals in the new year: the deadline to complete the new licensing requirements is quickly approaching.

House of Commons Standing Committee on Finance

Mortgage industry reps provide feds with proposals to address housing affordability

November 10, 2023 3 Comments

Representatives from Canada’s mortgage industry presented the federal government with several proposals they say will help address the country’s housing affordability crisis.

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