Mortgage payment shock could stretch into 2027 and drag Canada’s economy into recession, says Oxford Economics. Find out more
— Read on financialpost.com/news/mortgage-payment-shock-far-from-over
Tag: Mortgages
OSFI limits banks’ mortgages to highly indebted borrowers | Financial Post
New mortgage rule imposed by Office of the Superintendent of Financial Institutions aims to reduce financial system vulnerability. Read more
— Read on financialpost.com/fp-finance/banking/osfi-limits-banks-mortgages-highly-indebted-borrowers
Rosenberg: The dirty little secret about inflation that rarely gets attention
The Bank of Canada is out-hawking the Fed over inflation it largely created itself
— Read on ca.finance.yahoo.com/news/rosenberg-dirty-little-secret-inflation-175442795.html
Mortgage demand from homebuyers drops to a 28-year low as interest rates soar
Mortgage rates jumped last week to the highest level in 23 years.
— Read on www.cnbc.com/2023/08/23/mortgage-demand-from-homebuyers-drops-to-a-28-year-low-as-interest-rates-soar.html
U.S. 30-year mortgage rate tops 7% for first time since last fall
The average contract rate on a 30-year fixed-rate mortgage jumped 22 basis points to 7.07% in the week ended July 7, the Mortgage Bankers Association said.
— Read on www.cnbc.com/2023/07/12/us-30-year-mortgage-rate-tops-7percent-for-first-time-since-last-fall.html
Canadian residential mortgage debt hits $2.08 trillion: CMHC
OTTAWA — Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt was $2.08 trillion as of January this year, up six per cent from January 2022. However, the federal housing agency says in a new report that the rate of growth for mortgage debt slowed compared with recent years. The report attributes the trend to inflation, rapidly rising interest rates and cooling housing markets, which have weakened consumer confidence and left fewer home buyers looking to buy. Many
— Read on ca.finance.yahoo.com/news/canadian-residential-mortgage-debt-hits-150523801.html
Canada’s housing market is taking the brunt of rate hikes: Expert – BNN Bloomberg
Canada’s housing market is taking the brunt of rate hikes: Expert – BNN Bloomberg
— Read on www.bnnbloomberg.ca/canada-s-housing-market-is-taking-the-brunt-of-rate-hikes-expert-1.1922058
Private mortgage demand set to rise even further amid higher rates: expert
The increase in private lending has coincided with the surge in home prices over the past several years and the rise in interest rates.
— Read on ca.finance.yahoo.com/private-mortgage-demand-set-to-rise-further-amid-higher-rates-expert-165441391.html
How To Calculate Your Debt-To-Income Ratio For A Mortgage
Figuring out your debt-to-income ratio today can help you with tomorrow’s mortgage.
— Read on www.cnbc.com/select/how-to-calculate-debt-to-income-ratio-for-mortgage/
Ontario millennials must save for 20+ years for down payment: report | CTV News
A new report shows house prices need to drop by more than $500,000 for millennials to be able to afford a home in Ontario.
— Read on toronto.ctvnews.ca/ontario-millennials-need-to-save-for-over-20-years-for-down-payment-on-a-home-report-1.6179803