renewals Archives - Mortgage Rates & Mortgage Broker News in Canada

Challenges and opportunities for brokers

Challenges and opportunities for mortgage brokers in the current rate cycle

September 11, 2024 No Comments

The current rate environment presents new hurdles for mortgage brokers while also opening up potential growth opportunities for those able to adapt.

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

June 19, 2024 2 Comments

The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially overheat the housing market.

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.

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

June 3, 2024 No Comments

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.

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

April 22, 2024 No Comments

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

Mortgage deselection: Can your lender choose not to renew your mortgage?

December 11, 2023 No Comments

With an estimated three million Canadians facing a mortgage renewal over the next 15 years, many borrowers are asking a very important question: does my lender have to renew my mortgage?

Equitable Bank says majority of its mortgage borrowers have already renewed at higher rates

December 8, 2023 1 Comment

Alternative lender Equitable Bank revealed today that a majority of its residential mortgage clients have already renewed at higher interest rates and have largely absorbed the increases.

Scotiabank expects credit losses to worsen with over $200B in mortgages coming up for renewal by 2026

November 28, 2023 1 Comment

Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it’s bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.

What rising inflation means for Bank of Canada rate hikes

Bond yields surge to new heights, mortgage rates expected to jump another 20 bps

October 4, 2023 No Comments

On Tuesday, the Government of Canada 5-year bond yield jumped to an intraday high of 4.46% before retreating somewhat to 4.42%. Over the past two weeks, yields have risen by over 40 basis points, or 0.40%.

renewals