The last two scheduled interest rate announcements by the Bank of Canada both reflected an increase to the overnight rate, which in turn has a direct impact on prime rate.  It has been widely predicted that there will be one more rate increase before the end of the year, which could have come as soon [...]

Late last year, a new stress test was implemented on all high ratio mortgages, that is, mortgages obtained from a purchase with less than 20% down payment.   This means that regardless of the actual rate on the mortgage, home buyers would have to qualify based on a much higher rate, known as the benchmark rate, [...]

Following the last interest rate increase by the Bank of Canada on July 12th, it's been predicted that there will be at least one more rate hike before the end of the year.   This mornings interest rate announcement reflected just that.  Another rate hike of 0.25%.  As with the last rate hike, it's almost [...]

Back in June, the Bank of Canada hinted that they might be raising prime rate on the next scheduled rate announcement date of July 12th. This alone was enough to put upward pressure on bond yields, which have direct influence on fixed mortgage rates. As a result, fixed mortgage rates started increasing which were [...]

Mortgage Broker Toronto – Paul Meredith As we ring in the new year, many people in the industry have released their predictions for what we can expect for the Canadian housing market in 2017. Being a mortgage broker Toronto, this is obviously something that I take great interest in as I believe it can help [...]

Toronto mortgage - Paul Meredith As a mortgage broker Toronto, I am always looking out for my clients in the best possible way. Whether it’s refinancing, renewing or purchasing a home, a mortgage is a big deal. If you’re serious about purchasing a home, there’s a good chance that you are going to get a pre-approval [...]

Canada’s real estate industry is something that must be monitored as a mortgage broker Toronto. After experiencing a summer season where we saw record-breaking sales as prices continued to rise, those close to the real estate market are beginning to wonder about a potential collapse in the Canadian housing market. More specifically, questions have been [...]

In an industry as competitive and busy as the mortgage industry you are likely going to find it a little challenging to locate a good Toronto mortgage broker. How exactly do you know if that broker is a good one or not, though? There are many brokers on the market who will all vouch they [...]

As a mortgage broker Toronto, the local real estate market is something that I constantly watch. Last month, the market was as hot as it has ever been and is leading the country in growth. A new record was set back in May as 12,870 homes were sold in the Greater Toronto Area, a 10.6% [...]

The minister responsible for Canada Mortgage and Housing Corporation (CMHC), Jason Kenney, announced today that Evan Siddall has been appointed president and chief executive officer of CMHC for a five-year term effective January 1. "Mr. Siddall brings to the position extensive leadership and senior management experience," Kenney said. "His proven financial and capital markets expertise [...]