The mortgage deferral rate is on the decline according to the CMHC. In their quarterly financial report released November 27, the CMHC reported it had deferrals on 5% of its entire portfolio of insured mortgages since September 30. That’s a decline from approximately 8% in August. The active mortgage deferral rates as of September 30 was 4%…
The Bank of Canada is ending one of its emergency measures to stimulate the COVID-19 economy, leading to speculation that the era of record-low mortgage rates could be ending, too. What’s more likely, mortgage experts say, is that the central bank’s decision to stop buying Canada Mortgage Bonds on Oct. 26 will usher in a…
Almost 1 million existing loans have been deferred; more loans are still being taken out. More than 3/4 of a million Canadian homeowners have either deferred or skipped a mortgage payment during the COVID-19 pandemic began, to the tune of about $1 billion a month, Canada’s national housing agency says. In a report on Thursday,…
This summer, the housing market nationwide was better than anticipated; but we shouldn’t let it give us too much hope. Experts believe we won’t see the full effects of the pandemic on Canada’s real estate market until later this year. The upcoming reality check could be a painful one, according to a report on Canadian housing and mortgage…
As we begin the first fall of the decade, the 6 month vacation thousands of Canadians have taken from their mortgage payments will be over. Since the end of June, 760,000 people had put their mortgages on pause, according to the Canadian Bankers Association. And for a big portion of them, the grace period will…
If you’re shopping for a new mortgage, you may read around a lot of scepticism concerning the variable-rate. Are they an unnecessary gamble? On the plus side, you may win for at least a year or two by taking the chances; but after that, it’s finger-nail biting time. Years 4 and 5 could prove very…
This week, we have a new and special guest blogger! Please welcome Terrie Schauer. She is a real estate investor and property manager with has a passion for residential rental properties. She’s been working to make small- and medium sized investment properties profitable for twenty years, in Canada’s major markets (Toronto, Vancouver and now Montreal)…
In last Wednesday’s blog, we took a look at some of the factors that made the real estate market in Canada a difficult one to enjoy, and couldn’t put the blame on one thing in particular. It was not a particularly positive update to share, but at least things were made more sense of. This…
Back into real estate this week! It seems like we are in for an interesting Q1 of the year with house prices. The weakening trend has done next to nothing to help affordability in the country’s most expensive markets. So what do experts propose as a financial strategy this year for future…
When we speak of mortgages, it’s always about families with a stable income that will comfortably pay it off after a certain time. What is never spoken about are entrepreneurs and their housing plans; as we know, being self-employed means your salary can vary on a monthly basis, but being an employee on a payroll…
