Canadian mortgages top $1 trillion
Filed Under Main Content · Tagged: Annual Report, Canadian Mortgage, Canadian Mortgages, Canadians, Extra Cash, Home Purchases, Low Interest Rates, Mortgage Debt, Mortgage Holders, Mortgage Professionals, Rates Mortgage, Trillion
The Star- A new report says Canadian mortgage debt has spiked to over $1 trillion, largely as a result of high home prices and low interest rates.
The Canadian Association of Mortgage Professionals says in its annual report that the value of outstanding mortgages is now 7.6 per cent higher than it was last year.
The report says higher prices have forced many Canadians to borrow heavily to finance home purchases.
Meanwhile, low interest rates have spurred others to borrow against their homes. The report found 18 per cent of mortgage holders have taken equity out of their homes to free up extra cash…
Canadian mortgages top $1 trillion – Moneyville.ca
Canadians not worried about rising mortgage rates
Filed Under Main Content · Tagged: Business Mortgage, Fp, Interest Rates Rise, Investors Group, Mortgage Interest Rates, Mortgage Operations, Mortgage Rates, Mortgages, New Poll, Percentage Points, Rate Increases, Rates Mortgage, Respondents, Said Canadians, Sleep, Vice President, Worry
Times Colonist- Mortgage interest rates may be on the rise, but a new poll shows minimal worry about this among Canadians holding mortgages.
The Investors Group, in announcing results of its poll released Tuesday, said Canadians “may be overly confident that they can take higher borrowing costs in stride.”
Some of the results include 35 per cent of respondents saying they are not worried about their ability to make payments as interest rates rise, and 41 per cent saying it would take rate increases of three percentage points or more to “cause them to lose sleep.”
“Individuals aren’t as concerned as we might have thought they were,” said Peter Veselinovich, the Investors Group’s vice-president of banking and mortgage operations. “And that probably differs from the response we would have got generation ago, where debt was very much seen as that thing you wanted to pay down very quickly.”
Canadians not worried about rising mortgage rates
Could Canada be headed for sky-high inflation?
Filed Under Main Content · Tagged: Central Banks, Ctv Ca, Ctv Canada, Inflation, Interest Rates, Mortgage Rates, Rates Mortgage, Sky High, Teens
CTV.ca – They can tell you of the days when surging inflation forced central banks to jack up interest rates sky-high, creating mortgage rates in the high teens. …
CTV.ca | Could Canada be headed for sky-high inflation?
Breaking up with your mortgage
Filed Under Main Content · Tagged: Banks, Consumers, Financial Post, Money, Mortgages, Rates Mortgage, Toronto
Financial Post, Toronto – While not encouraging people to break their mortgages, the banks are acknowledging that some consumers who locked into higher rates can save money if they refinance at the new lower rates…
