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CategoryMortgage Trends

Despite Uncertainty, Canadians Are Keeping Up With Mortgage Payments

You might have heard some sensationalist news stories over the past year about Canadian homeowners over-borrowing. With the employment rate so low, and mortgage debt so high, how could Canadians possibly keep up with their payments? Headlines spewed dire warnings that once payment deferrals expired, borrowers would default in droves. 

Except that isn’t what happened at all. 

Continue reading “Despite Uncertainty, Canadians Are Keeping Up With Mortgage Payments”

The CMHC Takes a Step in the Right Direction

In July 2020, with CEO Evan Siddall at the helm, the CMHC decided to tighten the rules for insured mortgages. With revisions like a much higher minimum credit score, and much lower maximums for gross and total debt service ratios, it instantly became much more difficult for Canadians to qualify for an insured mortgage. Unsurprisingly, this proved to be an unpopular move. So why did Siddall do it?

Continue reading “The CMHC Takes a Step in the Right Direction”

Average inflation targeting… remember this term.

Last week, I participated in a webinar featuring Economist Dr. Peter Andersen.  While there was a lot of information covered, today I want to focus on a couple of key areas.  

  • What can business expect in 2021? 
  • Average inflation targeting and why you should remember this phrase. 
Continue reading “Average inflation targeting… remember this term.”

It’s Financial Literacy Month

We’re celebrating Financial Literacy Month!

Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more.

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Register Now: https://buff.ly/3lhmUl3

Hot Topics:

  • Interest Rates, Savings, Debt and Budgeting trends
  • Good debt vs bad debt: How debt affects the economy, housing prices and financial stability
  • Bankruptcy vs Consumer Proposal.
  • Bank of Canada interest rate policy now till 2023 – Risks??
  • Why the second line of defence (macroprudential policies) is necessary despite the recent rise in savings
  • Where does the problem lie? Disaggregating debt to asset ratio by age and income
  • Trends in financial literacy
  • Disruptions coming post-COVID & importance of financial literacy & skills
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