For The recreational property market in Canada, which enjoyed an impressive surge during the pandemic, is now undergoing a shift towards equilibrium as higher borrowing costs and decreased demand come into play. The insights gathered from a comprehensive report by Royal LePage, featuring input from over 200 real estate experts and brokers across the nation, […]
Read MoreCanada’s economy stands out for its remarkable resilience, defying expectations by sidestepping a recession despite navigating through an intense period of rate tightening in the nation’s history. A driving force behind this accomplishment is the innovative financial tool known as the fixed-payment variable-rate mortgage. These mortgages, offered by prominent banks like RBC, TD, BMO, and […]
Read MoreThe mortgage industry has undergone a remarkable transformation in recent years, and one of the key drivers of this change is the adoption of digital onboarding solutions. In this digital age, brokers are embracing technology to streamline their processes and offer clients a more efficient and convenient mortgage application experience. Digital onboarding not only benefits […]
Read MoreThe Canadian real estate market has been on a rollercoaster ride, grappling with the impact of the recent rate hike implemented by the Bank of Canada. Despite this, recent data from key real estate boards in the country’s largest metro areas indicates that the market is showing resilience and adaptability in the face of changing […]
Read MoreAmidst growing speculation, fixed mortgage rates have been on the rise in recent weeks, causing concern among potential homebuyers and homeowners alike. The pivotal factor influencing these rates is the Government of Canada 5-year bond yield, which has breached a significant threshold of 4%. As this level has acted as a crucial resistance point for […]
Read MoreCanada’s economic growth has recently been labeled as “disappointing,” leaving many speculating about the Bank of Canada’s potential decision to hold off on further rate hikes. In May, the country’s gross domestic product (GDP) experienced a 0.3% monthly increase, slightly below economists’ expectations. Meanwhile, June’s preliminary estimate suggests a 0.2% monthly contraction, potentially leading to […]
Read MoreIn a surprising turn of events, Scotiabank has made a remarkable resurgence in the mortgage market. After facing funding challenges and slowing its mortgage portfolio last year, the bank has taken a bold step forward with competitive pricing and an expanded retail package program for its broker partners. This move has left the industry stunned, […]
Read MoreAccording to the Bank of Canada’s recent Market Participants Survey, Canada’s benchmark interest rate is anticipated to remain at 5.00%, the highest level in over two decades. In this article, we’ll explore the insights provided by the survey, which sheds light on the financial market participants’ views on interest rates, inflation, and the country’s […]
Read MoreIn a significant move, the Governing Council of Bank of Canada decided to increase interest rates by 0.25 percentage point in July, marking the 10th rate hike. This decision was driven by concerns that delaying action until September could pose risks to the nation’s economic stability. The Council’s decision was largely influenced by the projection […]
Read MoreIn Canada’s dynamic mortgage market, fixed-rate mortgages are experiencing a recurrent upward trend. This surge is largely attributed to the recent increase in Government of Canada bond yields, which serve as the benchmark for pricing fixed-rate mortgages. Leading mortgage lenders, including prominent banks such as BMO, CIBC, and RBC, have responded to this shift by […]
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