by Geoff | Mar 19, 2018 | Market Updates, Mortgage Broker, mortgage trends
The mortgage industry seems to be ever-changing. What was applicable one day seems to no longer apply to the next and at times, it can be confusing to navigate through what all of these changes mean–and how they impact you directly. As Mortgage Brokers, we...
by Geoff | Jan 18, 2018 | Getting a Mortgage, Market Updates, mortgage trends, Rates
Banks and Credit unions are often grouped together into one category under “financial institutions”. While they may have several similarities in terms of financial service offerings, in the world of mortgages the banks and credit unions have little in...
by Geoff | Dec 1, 2017 | Getting a Mortgage, Market Updates, mortgage trends, Refinancing
As many of you may remember, this past October the Office of the Superintendent of Financial Institutions (OSFI) issued a revision to Guideline B-20 . The changes will go into effect on January 1, 2018 but lenders are expecting to roll this rules out to their...
by Geoff | Oct 18, 2017 | Market Updates, Mortgage Insurance, mortgage trends
On October 17, 2017, OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. Note...
by Geoff | Nov 16, 2016 | Market Updates, Rates
Did Prime go up? No. Did my Variable rate mortgage rate change? No, not unless your variable rate mortgage is with TD. So the Bank of Canada did not raise rates? No, in fact they are more likely to lower rates than increase them. But TD raised rates? Yes, but only by...
by Geoff | Oct 27, 2016 | DLC, Economy, Market Updates, mortgage trends
The Canadian Mortgage and Housing Corporation (CMHC) issued its quarterly housing market assessment and outlook yesterday, suggesting that, for the first time ever, there are “problematic conditions” in housing markets at the national level in Canada (see table below...
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