July 2023

Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, Scotia’s move on Friday to lower its broker rates, while many other lenders […]

The latest barometer of Canada’s economic growth is being described as “disappointing,” which some say could be enough to avoid any further Bank of Canada rate hikes.  The latest barometer of Canada’s economic growth is being described as “disappointing,” which some say could be enough to avoid any further Bank of Canada rate hikes.  Mortgage Rates

A new study has found the cost of renting vs. buying comparable housing in select Canadian markets is nearly on par.  A new study has found the cost of renting vs. buying comparable housing in select Canadian markets is nearly on par.  Mortgage Rates & Mortgage Broker News in Canada 

The Bank of Canada’s Governing Council members opted for a 10th rate hike in July over concerns that waiting until September carried its own risks.  The Bank of Canada’s Governing Council members opted for a 10th rate hike in July over concerns that waiting until September carried its own risks.  Mortgage Rates & Mortgage Broker News

Bond yields are back on the rise this week, which observers say could keep upward pressure on fixed mortgage rates if the trend continues.  Bond yields are back on the rise this week, which observers say could keep upward pressure on fixed mortgage rates if the trend continues.  Mortgage Rates & Mortgage Broker News in Canada 

CIBC’s Benjamin Tal says that the Bank of Canada has chosen to err on the side of too many hikes rather than too few for one simple reason: its bias towards fighting inflation.  CIBC’s Benjamin Tal says that the Bank of Canada has chosen to err on the side of too many hikes rather than

The housing affordability crisis is pushing the dream of homeownership beyond the realm of possibility for many Canadians.  The housing affordability crisis is pushing the dream of homeownership beyond the realm of possibility for many Canadians.  Mortgage Rates & Mortgage Broker News in Canada 

Canada’s expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report  Canada’s expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report  Mortgage Rates & Mortgage Broker News in Canada 

With its ability to analyze vast amounts of data, automate processes and provide valuable insights, AI is reshaping the way mortgages are originated, underwritten and serviced.  With its ability to analyze vast amounts of data, automate processes and provide valuable insights, AI is reshaping the way mortgages are originated, underwritten and serviced.  Mortgage Rates & Mortgage

Canada’s headline inflation reading took another step towards the magic 2% figure by slowing to an annual rate of 2.8% in June.  Canada’s headline inflation reading took another step towards the magic 2% figure by slowing to an annual rate of 2.8% in June.  Mortgage Rates & Mortgage Broker News in Canada