Canada’s mortgage market is in the spotlight with rising delinquencies and major policy changes aiming to tackle housing affordability and stabilize the market. Delinquencies, especially among alternative lenders, are increasing, with Canada Mortgage and Housing Corporation (CMHC) reporting that mortgages over 90 days delinquent now account for 0.19% of the total market—a small but growing number as more borrowers face financial strain in a high-interest environment​ Canadian... [read more]

Reverse mortgages have gained in popularity in the last few years. Reports suggest that reverse mortgage demand surged roughly 30 per cent in 2022 post-pandemic, with originations topping $1 billion for the second consecutive year. According to the Office of the Superintendent of Financial Institutions (OSFI), Canadians were carrying more than $8.2 billion in reverse mortgage debt outstanding at the end of June 2024. And the trend is growing. Why are more Canadians taking on... [read more]

Sheriff Sales, Foreclosures, and Power of Sales in Ontario: What Buyers Should Know Introduction In Ontario, buyers interested in distressed properties often encounter three types of sales: Sheriff sales, foreclosures, and power of sales. Recently, Sheriff sales have gained attention in the media, and understanding each option’s nuances can make a world of difference when navigating Ontario’s real estate market. Here’s a breakdown of the positives and negatives of each... [read more]

Homebuyers, sellers, market watchers and the broader Canadian real estate industry keep a close eye on the Bank of Canada’s interest rate announcements every six weeks. They always make headlines and can have a pronounced effect on the housing market, depending on which direction the Bank moves. So, how will the rate impact your mortgage? Let’s find out. How Will the BoC Interest Rate Impact My Mortgage? We consider many variables in life before making any big decision, and... [read more]

For many Canadians, the next step after completing their education and securing a job is buying a home. Home ownership is, after all, the Canadian dream. While it’s common knowledge that saving up for a down payment is the first step to eventually buying a home, many are not aware of the mortgage stress test. So, what is the mortgage stress test in Canada? To put it simply, the mortgage stress test is a mortgage qualifier tool used to determine if the borrower would... [read more]