Topic: Residential Mortgages
If it seems like Canada’s housing market bounces back and forth from doom and gloom to optimism and sunshine faster than a mortgage application can be submitted, it’s likely because it makes for better headlines than the truth: The market is cooling, but it’s heading for a soft landing, not a crash.
According to the Bank of Canada, buyers who stick with their current mortgage lender when it comes time for renewal may be cheating themselves out of a discount.
With mortgage rates continuing to stay near ultra-low levels, it’s no surprise that many Canadians are clamoring to invest in a home purchase or refinance their current home loan.
Data from a Canadian Mortgage Professional poll provides a special insight into what issues facing the current real estate market most concern mortgage brokers. "No, the sky isn't falling, say the majority of brokers responding to CMP's fifth-annual Sentiment Poll, but their answers – recorded over a six-month period ending early March – suggest headroom is …
While it’s easier than ever for Canadian homebuyers to lock in low mortgage rates, it’s important for individuals to understand how their credit will influence the process.
Data from the Canadian Imperial Bank of Commerce shows that Canadian borrowers believe it will take them longer than previously thought to pay off their mortgages.