Canada’s economy slowed more than expected in the first quarter, raising the odds of an interest rate cut next week by the Bank of Canada, economists say. Canada’s economy slowed more than expected in the first quarter, raising the odds of an interest rate cut next week by the Bank of Canada, economists say. Mortgage Rates […]
Soft GDP figures point to a BoC rate cut next week, but uncertainty remains Read More »
BMO reported a rise in delinquencies in the second quarter and said it expects credit challenges to persist with interest rates now likely to remain higher for longer. The bank saw 90+ day delinquencies in its real-estate secured lending (RESL) portfolio rise to 0.19% in the quarter, up from 0.17% last quarter and 0.14% of
BMO reports increased delinquencies, predicts prolonged high interest rates Read More »
High levels of immigration are helping blunt the economic impact of Canada’s aging population even though it’s worsened challenges with housing affordability, a report by RBC says. High levels of immigration are helping blunt the economic impact of Canada’s aging population even though it’s worsened challenges with housing affordability, a report by RBC says. Mortgage Rates
Immigration provides important buffer for Canadian economy as population greys: RBC Read More »
Scotiabank says high interest rates are increasingly weighing on consumers, resulting in a credit deterioration among its variable-rate mortgage customers. Scotiabank says high interest rates are increasingly weighing on consumers, resulting in a credit deterioration among its variable-rate mortgage customers. Mortgage Rates & Mortgage Broker News in Canada
Scotiabank says variable-rate mortgage clients “showing signs of stress” Read More »
CMHC says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4% year-over-year and representing the slowest growth in 23 years. CMHC says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4% year-over-year and representing the slowest growth in 23 years. Mortgage Rates
Residential mortgage debt hits $2.16 trillion amid slowest growth in 23 years: CMHC Read More »
An increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets. An increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets. Mortgage Rates & Mortgage Broker News in Canada
More Canadians only making minimum payment on credit cards: TransUnion Read More »
Canada’s largest non-bank lender continued to see a slowdown in its residential mortgage originations in the first quarter, which were down 20% from last year. Canada’s largest non-bank lender continued to see a slowdown in its residential mortgage originations in the first quarter, which were down 20% from last year. Mortgage Rates & Mortgage Broker News
Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter. Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter. Mortgage Rates & Mortgage
TD Bank sees mortgage volumes rise 7% in Q2, gains market share Read More »
Canada’s banking regulator says high borrowing costs and a wave of expected renewals pose a key risk to Canada’s financial system. Canada’s banking regulator says high borrowing costs and a wave of expected renewals pose a key risk to Canada’s financial system. Mortgage Rates & Mortgage Broker News in Canada
OSFI says mortgage payment shock poses a key risk to Canada’s financial system Read More »
While there’s still room for surprises, Canadian banks are set to report results after a second quarter that was notable for its economic steadiness. While there’s still room for surprises, Canadian banks are set to report results after a second quarter that was notable for its economic steadiness. Mortgage Rates & Mortgage Broker News in Canada
Banks to report second-quarter results as credit concerns persist Read More »
