In toronto real estate, the days when Canada’s banks could offload much of the risk of underwriting mortgages onto taxpayers may be drawing to a close. Canadian Finance Minister Bill Morneau disclosed plans Monday to begin consultations on sharing the risk of mortgage default with the country’s lenders. The move was part of a […]
toronto mortgage
Major changes to Canada’s housing and mortgage lending rules
In toronto real estate, the Liberal government has announced sweeping changes aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates. The changes are also meant to address concerns related to foreign buyers who buy and flip Canadian homes. Below is a breakdown […]
Toronto housing market staying stronger, while Vancouver’s slowing down – TD Bank
In toronto real estate, Toronto continues to maintain its housing market momentum whiles Vancouver real estate market looks to be softening. In a report published Tuesday, TD Bank said Vancouver has started what is expected to be a modest correction, which will be reinforced by the recent implementation of the land transfer tax on […]
Scotiabank cuts down in mortgage lending business, stays vigilant
In toronto mortgage, Bank of Nova Scotia (BNS.TO), Canada’s third-biggest lender, has pulled back on mortgage lending in its domestic market, potentially insulating itself if house prices fall in Vancouver and Toronto. In toronto real estate, Canada’s banks face heightened scrutiny of their mortgage underwriting practices as authorities try to tackle the potential threat […]
RBC says household debt goes up from higher credit lines, car loans
In toronto real estate, Canadians’ non-mortgage debt loads picked up pace in the second quarter, putting households in an increasingly risky position, an RBC analysis suggested. Balances on consumer loans including credit cards and lines of credit – grew by 2.6 per cent year-over-year, driven primarily by the continued popularity of lines of credit […]
