Category: Government

Home Sales & Prices Won’t Fully Recover Until 2022, Says CMHC

Home Sales & Prices Won’t Fully Recover Until 2022, Says CMHC

Significant drops in employment in Canada’s major cities will keep downward pressure on housing demand, with sales and home prices not expected to rebound to pre-COVID levels until 2022, according to CMHC’s latest Housing Market Outlook. “Short-term uncertainty will lead to severe declines in sales activity and in new construction,

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Why Are Mortgage Rates Rising?

Fears over the COVID-19 pandemic and plummeting oil prices have caused mortgage rates to plummet to multi-year lows over the past couple of weeks.

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2019 – Year in Review

As we turn the page on 2019, we wanted to take a look back at how mortgage rates fared as well as some of the key themes in mortgage news over the year.

Morneau Ordered to “Review” Stress Test. What Can We Expect?

Morneau Ordered to “Review” Stress Test. What Can We Expect?

The directive from Prime Minister Justin Trudeau to Finance Minister Bill Morneau on Friday was short and sweet: “Review and consider recommendations from financial agencies related to making the borrower stress test more dynamic.” What will actually come from this review and the resulting tweaks (if any) to the mortgage stress test is unclear. BACKGROUNDER: There are two mortgage stress tests, one on insured mortgages (less than 20% down payment) and another on uninsured mortgages. The latter, implemented on January […]

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About

East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.