Mortgage News

  • Disaster-recovery-plan-FB

NEW Mortgage Rules mean BIG changes

By now you will have seen the details of the significant changes to the mortgage market announced by the Finance Minister but how will they impact the market? In a nutshell – it will be big. The changes fundamentally impact the demand side of the supply/demand relationship. Over that past 7 years, market demand at the entry and mid level […]
  • marketplace

Collateral Charge Mortgages at TD get "Failing Grade"

Recently CBC Marketplace went undercover to see how TD sells collateral charge mortgages. According to financial expert, they receive a failing grade for disclosure which is not surprising. Here is the video, shared from the CBC Marketplace Facebook page. Also here is the link to the entire TV episode. (in case they remove it from Facebook). // [...]
  • dark_strokes

Prime Rate Changed to 2.85%. Slow Clap.

It’s official, as of today all the big Canadian banks have now lowered their prime rate. RBC was the first to announce they would drop their prime rate by .15% to 2.85%. BMO, TD and CIBC quickly followed with drops of their own, then the ScotiaBank and National Bank fell off […]
  • Bank of Canada

Bank of Canada Announces Bombshell – Rate drops by 25 bps!

Surprise!  Just as the media and Nation has been talking about highly anticipated  interest rate hikes, the Bank of Canada announced it’s 25 bps DROP! Today’s surprise news proves that no one can actually predict the future, even the so called “experts”. The BoC states “This decision is in […]
  • download

B-20 regulation break down – what's changed in Canada's mortgage financing industry?

In summer of 2012, B20 underwriting guidelines for Residential Mortgages that OSFI, the regulator of all Canadian Financial Institutions, has imposed on all regulated lenders and CMHC. These underwriting guidelines have been created at the insistence of the Financial Stability Board, the financial oversight organization of all G20 nations. The creation of these guidelines is a direct result of […]