Tag: Mortgage Broker News

National Housing Market Shows Signs of “Moderate” Vulnerability CMHC Says

National Housing Market Shows Signs of “Moderate” Vulnerability, CMHC Says

At the national level, Canada’s housing market showed “moderate evidence of overvaluation” in the second quarter, according to the Canada Mortgage and Housing Corporation. “The evidence of rising imbalances in some local housing markets coupled with the general weakening of housing market fundamentals results in a moderate degree of overall vulnerability being maintained for the Canadian housing market,” reads the agency’s Housing Market Assessment (HMA) released this week. The data covers up to the end of June, during the height […]

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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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.