2/19/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ... More

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  2/18/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Ottawa changing stress test rate for insured mortgages starting April 6. ... More

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  1/22/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy. ... More

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  1/22/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The current lending rules in Canada are geared towards shorter-mortgage terms ... More

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  1/17/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics. ... More

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  1/8/2020 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

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  10/10/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s central ... More

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  9/25/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Employment figures had a major influence on the market's dynamics. ... More

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  9/19/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well. ... More

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  9/16/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Some millennials believe it is justifiable to lie on a mortgage application, according to a new Equifax Canada survey on mortgage fraud. ... More

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  9/6/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests. ... More

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  8/10/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes. ... More

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  7/28/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate. ... More

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  7/21/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years. ... More

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  7/18/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp. ... More

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  7/17/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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An increasing number of homeowners turned to alternative lenders last year, while new mortgage growth reached its slowest pace in more than a quarter of a century amid government ... More

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  6/17/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities. ... More

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  6/11/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices. ... More

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  5/31/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Canada Revenue Agency has identified over a $1 billion in unpaid gross taxes in the real estate sector since 2015 and has doled out over $100 million in penalties. ... More

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  5/9/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ... More

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  5/1/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Canadian government should consider being flexible on its new mortgage lending rules because the impact has been longer-lasting and more significant than expected, ... More

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  4/25/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage. ... More

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  4/16/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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CIBC economist says regulators need to revisit rules that have made it harder to get a mortgage. ... More

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  4/3/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The Bank of Canada is likely to stand pat on interest rates for the remainder of this year and well into 2020, according to the chief economist of BMO Financial Group. ... More

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  3/14/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Canada’s household debt levels will force around 1 in 5 people with debt to sell assets to stay above water. ... More

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  3/6/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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More Canadians are running into serious issues with their mortgage payments according to a new report. ... More

Real Estate & Mortgage News

  2/26/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Ten per cent of Canadians no longer qualify for a mortgage with banks. ... More

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  2/22/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The B-20 mandated stress test is already outdated considering current market realities, according to a real estate firm head. ... More

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  2/7/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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The federal government appears to be considering a budget announcement that would allow first-time homebuyers to obtain 30-year insured mortgages, up from the 25-year limit now, ... More

Real Estate & Mortgage News

  2/6/2019 | Posted in Mortgages and Real Estate by Century 21 People's Choice
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Canada’s banking regulator defended tougher mortgage underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that ... More

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