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4 days ago | 
mortgagelogic.news | Robert McLister
Rates on Freeze. BoC "Proceeding Carefully" You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
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4 days ago | 
mortgagelogic.news | Robert McLister
💡See also: Mortgage Tidbits below. Fresh housing numbers reveal some fairly buyer-friendly fundamentals:National benchmark home prices are 18% off their peakWeekly paycheques have climbed 18% in 48 monthsMortgage insurance rules are their loosest in years, and Mortgage rates are flirting with three-year lows. Mortgage affordability is suddenly on a hot streak, with #GDS# ratios crashing to a 52-month low, according to MLN's calculations.
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5 days ago | 
mortgagelogic.news | Robert McLister
Three-Year Fixed Barely Beats the Rest You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
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6 days ago | 
mortgagelogic.news | Robert McLister
Last month, Japan's long-bond yields soared to unprecedented heights before temporarily retracing. Probably over 90% of Canadian mortgagors didn't even think twice about it, or once, for that matter. Yet, Japan's debt challenges—while more extreme than most—mirror a global shift in the US$80 trillion government bond market. It may be setting up a future domino reaction that could be heading straight for everyone's wallets, Canadians included.
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1 week ago | 
mortgagelogic.news | Robert McLister
Canadian mortgage rates aren't just moved by domestic inflation but by U.S. inflation too, especially by the Fed's favourite core PCE measure.
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1 week ago | 
mortgagelogic.news | Robert McLister
It's been getting harder for banks to make money, as evidenced by today's rare RBC profit miss. A big culprit is the evolving economic forecast, one which now reads "more dreary with a chance of defaults." That's leading banks like RBC to stockpile larger-than-expected loan loss reserves. Canada’s Big Six are also watching renewal waves hit like a fiscal tsunami, and most are strongly shoving customers toward multi-product relationships, something their #monoline# competitors can't really do.
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1 week ago | 
mortgagelogic.news | Robert McLister
Late Wednesday, a U.S. trade court ruled several of Trump's tariffs as unconstitutional as a three-dollar bill. At first glance, this looks like a win for Canada.
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1 week ago | 
mortgagelogic.news | Robert McLister
If you're wondering when we'll get the final verdict on whether our bank regulator will replace the federal mortgage stress test (a.k.a., "MQR") with its new loan-to-income (LTI) test, here's what OSFI told us Tuesday: You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
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1 week ago | 
mortgagelogic.news | Robert McLister
For anyone picking a mortgage term based on market-projected forward rates and today's best offers *, floating looks about as appealing as a tax audit. The implied upside (i.e., the probability of maximizing savings with a variable) is too limited. As students of interest rates are aware, however, market-driven rate outlooks usually have an upward bias. For example, the chart below illustrates a typical pattern we often spot at this stage of the cycle.
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1 week ago | 
mortgagelogic.news | Robert McLister
Rates Diverge for Insured and Uninsured Borrowers You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.