Category: Policy

How Canada’s Mortgage Lenders Adapted to the ‘New Normal’

How Canada’s Mortgage Lenders Adapted to the ‘New Normal’

The COVID-19 pandemic and the resulting nationwide lockdown forced the country’s mortgage lenders—like many businesses across the country—to adjust their operations in this unprecedented and brave new world of conducting business.

They were faced…

Q3 Lender Earnings: The Unexpected Recovery

Q3 Lender Earnings: The Unexpected Recovery

The country’s key mortgage lenders recently released their third-quarter earnings, and it’s safe to say results were better-than-expected all around.

Equitable Bank had its best-ever third quarter, while First National had its own record quarter….

Latest in Mortgage News – Industry Announcements

Latest in Mortgage News – Industry Announcements

There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages.

Here’s a look at each…

Equitable…

Latest in Mortgage News CMHC to Get New Name, Maybe “Housing Canada”

Latest in Mortgage News: CMHC to Get New Name, Maybe “Housing Canada”

What’s in a name? Well, in the case of the Canada Housing and Mortgage Corporation, “mortgage” likely won’t for much longer. The housing agency announced last week that it will be undergoing a rebranding in the coming months to better reflect its mandate. CEO Evan Siddall says the current name overemphasizes homeownership financing and doesn’t highlight the agency’s work related to housing affordability. The name “Housing Canada” has already been floated, but federal legislation would be needed for an official […]

Big Banks Still Dominate Mortgage Market Share, Says CMHC

Big Banks Still Dominate Mortgage Market Share, Says CMHC

Big banks originate nearly 7 out of 10 (67%) of new Canadian mortgages, although their market share has fallen slightly from last year, according to CMHC. Of total mortgages outstanding, the big banks hold 72% of those loans, down from 75% in 2018, according to the latest Residential Mortgage Industry Report released by the Canada Mortgage and Housing Corporation (CMHC). Their average loan in 2019 was $220,650, with interest rates ranging from 3.10% to 5.20% and a delinquency rate of […]

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