Mortgage News

The Latest Mortgage News and Interest Rates

The Housing And Mortgage Market Review: Q2 2024

The Housing and Mortgage Market Review: Q2 2024

Mortgage Professionals Canada is delighted to announce our new collaboration with Oxford Economics in delivering our revamped Housing and Mortgage Market Review. This essential resource is designed to help you stay on top of the latest economic trends and forecasts, aiding you in strategic mortgage

Mortgage Interest Rate Cuts In June?

Mortgage Interest Rate Cuts In June?

February’s inflation numbers suggest a possible shift in the monetary policy stance of the Bank of Canada, with speculation rising that it may opt for its first mortgage interest rate cut as early as June.

First-Time Homebuyer Incentive Terminated

First-Time Homebuyer Incentive Terminated

The initial promise of the first-time homebuyer incentive seemed like a beacon of hope for many prospective homebuyers grappling with the challenge of saving up for a down payment. Regrettably, the program’s execution left much to be desired, resulting in suboptimal outcomes for the majority

Too Early For Rate Decrease: Bank Of Canada

Too Early For Rate Decrease: Bank of Canada

The Bank of Canada’s Governing Council is hesitant to pinpoint when they might begin easing interest rates, as indicated in the summary of discussions from their January 24 meeting.

Mortgage Porting Bring Your Mortgage With You

Mortgage Porting: Bring Your Mortgage With You

Suppose you are committed to a five-year mortgage term with two years left until renewal. However, recent changes in your life, such as a new job offer requiring relocation or the need for more space due to a growing family, necessitate an early exit from

Real Estate Upswing In December

Real Estate Upswing in December

After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.

Warm Wishes This Holiday Season!

Warm Wishes This Holiday Season!

As the holiday season is upon us, we want to take a moment to express our sincere gratitude for each of our clients. It has been a privilege serving you this year. Your trust and partnership have been the greatest gifts, and we are truly

2023 Housing And Mortgage Market Review

2023 Housing and Mortgage Market Review

In October, Canada’s inflation rate dipped to 3.1%, slightly below the expected 3.2%, primarily due to a 6% monthly drop in gasoline prices. The economic landscape reveals sluggish GDP growth, a rising unemployment rate, and a likelihood of the Bank of Canada pausing interest rate

High Ratio Mortgages And Mortgage Default Insurance

High Ratio Mortgages and Mortgage Default Insurance

A high ratio mortgage is where the borrower’s down payment is less than 20% of the property’s purchase price. In Canada, such mortgages require insurance because they are considered higher risk and necessitate “default insurance” coverage.

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