Household Debt vs. Mortgage Debt: The Good, The Bad, & The Ugly
After the two stories from Monday's blog, and my obvious dislike of the new mortgage regulations implemented on January 1st, I think you all have an idea where this is going. While not exactly about real estate, those stories did serve...
New Mortgage Rules: Q&A With Benjamin Sammut
Scheduling conflicts didn't allow me to pull in broker-to-the-stars, Joe Sammut, for a video today as promised. But I found the next best thing - his son, Benjamin Sammut, who is almost as good-looking, and with a slightly better beard...
Should You Stress Over The New Mortgage Stress-Test?
I honestly don't think that people would be so worried, anxious, stressed, jittery, frazzled, concerned, tense, hassled, or any other synonym for stress, if the associated test itself had a different name. If this was called the "Financial Lending Life Pattern...
Canada’s Mortgage Backed Securities (MBS)
A few weeks ago, there was a feature article in one of the national newspapers on Mortgage Backed Securities in the Canadian marketplace. I must have had at least 4-5 clients email me this article, and the same number of blog readers...
What’s The Fuss About Home Capital?
As this story continues to develop, I can't help but think: there's no real story here. I mean, there is a story: that Home Capital's stock plummeted, and there was a run on their deposits. But what's the story behind that? Nobody knows. Yet. Let's look...
Should The Federal Government Act On Uninsured Mortgages?
When we talk about mortgages or mortgage insurance, we usually only ever talk about insured mortgages, since those are the ones covered by by CMHC, and we the tax-payers are on the hook for these loans. Most of the changes to...
Monday Morning Quarterback: Mortgage Break Fees & “Fairness”
A story came out last Friday about an Edmonton couple who was "devastated" to find out that they owed TD Bank $17,000 in mortgage break fees. I was going to play devil's advocate and point out the illogical nature of...
Will The New Mortgage Rules Really Have An Affect On The Market?
Or is it simply a slow news day? Monday marked the first day that buyers will have to make a minimum down payment of up to 10% on the price of houses over $500,000, but as those of us who...
Should CMHC Reintroduce The “Regional Mortgage Cap?”
More likely than not, your answer here will depend on where you live. But if you're not aware of what a "regional mortgage cap" is, or was, consider that until 2003, the Canada Mortgage Housing Corporation (CMHC) had different maximum...
What If CMHC Lowered The Mortgage Insurance Ceiling?
We all know that CMHC does not insure mortgages of over $1,000,000, and for a couple of years now, we've been working in a market where you must make a minimum downpayment of 20%. But a colleague and I had...
What Do You Want In A Mortgage?
Yesterday, we talked about last week's announcement that BMO is offering a new 2.99%, five-year, fixed-rate mortgage, and a reader asked, "What options would people want in their mortgage the most?" Great question! But is this a question that people...
Monday Morning Quarterback: Ready, Set, Rate War!
"War. Aaah. Huh. What is......it good for?" (absolutely nothing) Unless, of course, you're a buyer in today's Toronto real estate market. Surely you noticed that the 5-year, fixed-rate dropped to 2.99% last week via several financial institutions. But before you get...
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