Mortgages: Latest News

All news where Mortgages is mentioned

17.09.2022 / 18:45

As rates rise, is now the time to lock in a fixed mortgage? Here’s what to know

The Bank of Canada’s rising interest rates have some variable-rate mortgage holders thinking about the upside of locking in a fixed rate, according to experts who spoke to Global News.

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Renters might soon feel the pain as their landlords post losses. Here’s why

real estate investors might ratchet up the pain in the rental market in the coming years.The report, released Monday from CIBC and Urbanation, shows that for a majority of real estate investors in the Greater Toronto Area (GTA), the business case for their rental properties is falling apart.

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Young investors questioning ‘risky’ call to become landlords amid higher rates

mortgage rates are ratcheting up the pressure on Canadian landlords, especially young investors who are facing the harsh side of the interest rate cycle for the first time.A report released Thursday by Royal LePage shows higher payments are even pushing some housing investors to consider selling off their properties. But for 32-year-old Karim Najjar, that decision is about more than just writing off the loss on an investment.Najjar moved to Ottawa from Edmonton in 2017 and jumped into the housing market a year after he arrived.His timing into the market was good, Najjar recalls, as home prices soared in his first few years of ownership.

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Majority of Canadians who don’t own a home have ‘given up’: poll

Despite a sizeable drop in home prices over the past year and a slew of federal government measures aimed at addressing housing affordability, a new poll suggests Canadians are no more encouraged about breaking into the housing market.

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Home prices, sales have plunged in the last year. Is this the bottom?

Canada’s housing market showed signs of life in February following a year of cooling off, but experts are watching the typically busy spring season to determine whether the correction has hit its bottom.

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SVB instability could drive some Canadian mortgage rates lower. Here’s why

The fallout from the collapse of Silicon Valley Bank has spread to the Canadian mortgage market, with some forecasters now expecting the Bank of Canada to cut interest rates sooner than previously thought.

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Canada’s banks brace for possible wave of loan defaults. Why that matters

Canada’s biggest banks saw the country’s major lenders move in lockstep ahead of a projected economic downturn, with each putting more money away for a possible rise in credit losses.Experts say the more expensive cost of borrowing in Canada and the possibility of job losses could catch up to households and push a growing number into default, though some believe the worst of the debt pain is likely at least a year away.Canada’s big six banks — TD Bank, RBC, BMO, Scotiabank, CIBC and National Bank — all reported earnings for their first fiscal quarters this week, with similar-sounding results. All reported a dip in profits as they put more money aside to handle credit losses.

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Central Bank urges action on long term mortgage arrears

The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears.

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Deposits in Irish banks hit record high - Central Bank

Deposits by households paid into Irish banks and financial institutions are now at their highest level since records began.

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EBA confirms payment breaks will be phased out as planned

The European Banking Authority (EBA) has confirmed that mortgage and loan payment breaks, offered to borrowers earlier this year, will be phased out from the end of this month as planned.

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Canada’s housing agency tightens mortgage insurance eligibility amid coronavirus

OTTAWA –The Canada Mortgage and Housing Corporation is tightening its lending standards, making it tougher for Canadians to borrow money to purchase a home.

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B.C. works to help renters, homeowners amid coronavirus

The B.C. government is exploring ways to address concerns from British Columbians unable to afford rent or mortgage payments amidst layoffs and work stoppages due to the coronavirus outbreak.

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