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CategoryMortgage Trends

Posted Consumer Debt

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”
Posted 1 Comment on The CMHC Takes a Step in the Right Direction Mortgage News

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”
Posted 1 Comment on It’s Financial Literacy Month Finance

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

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