Globe and Mail ~ September 12th, 2023 Canadians renewing their mortgage in the next six to eight months face a three-pronged dilemma. For many, there’s the question of how to handle the financial shock from much larger mortgage payments, as homeowners renew at significantly higher interest rates. A year and… Read More
Category: News
Housing supply picture improving but Canada still needs 3.5 million more new homes by 2030, CMHC says
CBC News ~ September 13th, 2023 Canada’s national housing agency says progress is being made on building enough housing to fix the country’s affordability gap, but almost 3.5 million new units will still have to be built by the end of the decade, over and above what’s already in the […]
Variable-rate mortgages gaining favour again as Canadians bet interest rates have peaked
Financial Post ~ August 14th, 2023 Variable-rate mortgages appear to be gaining favour again as more Canadians bet that interest rates have peaked, say industry sources. According to RATESDOTCA data, the percentage of variable-rate quotes rose to 13 per cent in July, a three per cent increase from the month […]
Renting vs. buying in today’s market: how monthly payments compare
Canadian Mortgage Trends ~ July 27th, 2023 A new study has found the cost of renting vs. buying comparable housing in select Canadian markets is nearly on par. In fact, the difference between renting and buying was less than $500 per month in 11 different markets, according to the report […]
What impact will the new Bank of Canada hike have on Canada’s housing market?
Canada Mortgage Broker News ~ July 13th, 2023 The Bank of Canada’s latest interest rate hike could contribute to cooler activity in the national housing market for the remainder of the summer, with little certainty for borrowers over where rates are eventually going to end up. That’s according to James […]
Bank of Canada hikes interest rate again — and there may be more to come
CBC News ~ June 7th, 2023 The Bank of Canada decided to raise its benchmark interest rate to 4.75 per cent on Wednesday. It’s the first time that Canada’s central bank has raised its trend-setting interest rate since January, when the bank signalled it would conditionally pause its aggressive campaign […]
Canada’s home prices haven’t hit bottom yet, says CMHC
Financial Post ~ April 27th, 2023 Canadian home prices will continue to decline until the middle of 2023 before they bottom out and start rising again through 2025, according to the Canada Mortgage and Housing Corporation’s latest housing market outlook. The national housing agency’s annual forecast, released April 27, predicts […]
High mortgage costs will ‘strain’ budgets. But is the Bank of Canada worried?
Global News ~ April 12th, 2023 The Bank of Canada is warning that higher mortgage rates tied to its rapid policy rate hikes over the past year will test some Canadian households’ finances in the months to come. The central bank’s latest projections about the impact of higher borrowing costs […]
What’s keeping interest – and mortgage – rates high? Unemployment at near historical lows
Globe abd Mail ~ March 30th, 2023 If you’re riding out a floating-rate mortgage, you’re likely wondering when the prime rate will drop. The 22-year high in Canada’s prime rate has caused financial hardship for many – including 50-per-cent-plus payment increases on most adjustable-rate mortgages. Compared with a year ago, […]
Congratulations to the 2022 Oriana Financial Top 5 Performers!
2022 was a challenging year in the mortgage industry! We are proud of our team and the efforts put forth. We all know that we truly make a difference in our clients lives and are fortunate to assist them in making one of the biggest purchases of their lives, home […]
