In response to the COVID-19 pandemic and in an attempt to protect the economic future of Canadians, the Canadian Mortgage and Housing Corporation (CMHC) announced in early June that it would be tightening its qualification rules for mortgage insurance from July 1, 2020.  Fortunately, they are two other mortgage insurers: Genworth and Canada Guarantee and neither of them are changing their qualification rules.

Original Article Source Credits: Canadian mortgage trends , https://www.canadianmortgagetrends.com/

Article Written By : Steve Huebl

Original Article Posted on : April 22, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/04/one-in-20-homeowners-have-missed-a-mortgage-payment-due-to-covid-19/

Original Article Source Credits:  Cision , https://www.newswire.ca/

Article Written By : NA

Original Article Posted on : Mar 27, 2020

Link to Original Article:  https://www.newswire.ca/news-releases/osfi-announces-regulatory-flexibility-to-support-covid-19-efforts-857114960.html

Original Article Source Credits: Cision  , https://www.newswire.ca/

Article Written By : NA

Original Article Posted on : Mar 26, 2020

Link to Original Article:  https://www.newswire.ca/news-releases/cmhc-expands-insured-mortgage-purchase-program-816774510.html

Original Article Source Credits:Bank of Canada , https://www.bankofcanada.ca/

Article Written By : NA

Original Article Posted on : NA

Link to Original Article:  https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/covid-19-actions-support-economy-financial-system/

Original Article Source Credits: HuffPost News , https://www.huffingtonpost.ca/

 Article Written By : HuffPost Canada Staff

Original Article Posted on : 04/06/2020

Link to Original Article:  https://www.huffingtonpost.ca/entry/real-estate-pandemic-canada_ca_5e89fa19c5b6cbaf282b09db?utm_hp_ref=ca-business

Original Article Source Credits: Toronto Storeys , https://torontostoreys.com/

Article Written By : Toronto Storeys

Original Article Posted on : April 9, 2020

Link to Original Article:  https://torontostoreys.com/canadians-refinancing-mortgages-coronavirus/

Original Article Source Credits:canadianmortgagetrends , https://www.canadianmortgagetrends.com/

Article Written By :Steve Huebl

Original Article Posted on :March 11, 2020

Link to Original Article:https://www.canadianmortgagetrends.com/2020/03/latest-in-mortgage-news-mortgage-rates-falling-as-economic-turmoil-persists/

Are you planning to buy a new house but don’t know where to begin when it comes to financing it? If you’re struggling to make sense of the mortgage system and the different options available, you’re not alone. Mortgages can be complicated if you aren’t aware of how they work. Moreover, it isn’t easy to make the right decisions based on your needs and capabilities if you don’t understand what your choices are. To help you make sense of mortgages, Keith Uthe Demystifying Mortgages has explained the different types of mortgages available to you.

Original Article Source Credits:thestar , >https://www.thestar.com/

Article Written By :Michael Lewis

Original Article Posted on :March 5, 2020

Link to Original Article:https://www.thestar.com/business/real_estate/2020/03/05/borrowing-to-buy-a-house-mortgage-rates-to-fall-following-bank-of-canada-rate-cut.html

Original Article Source Credits: HuffingtonPost, https://www.huffingtonpost.ca/

Article Written By Canadian Press

Original Article Posted on :2/18/2020

Link to Original Article: https://www.huffingtonpost.ca/entry/mortgage-stress-test_ca_5e4c2e67c5b6eb8e95b3bcc2

Original Article Source Credits:Canadian mortgage trends,https://www.canadianmortgagetrends.com/

Article Written By Steve Huebl

Original Article Posted on : February 26, 2020

Link to Original Article: https://www.canadianmortgagetrends.com/2020/02/latest-in-mortgage-news-meridian-credit-union-raises-125-million/

One of the most intricate and difficult parts of the home-buying venture is the mortgage process. While most prospective homebuyers hire a mortgage agent to assist them with the process, there are many who avoid enlisting the services of a mortgage agent because of the myths and misconceptions they’ve come across. 

Original Article Source Credits:bloomberg, https://www.bloomberg.com/

Article Written By  Chris Fournier

Original Article Posted on : February 19, 2020

Link to Original Article: https://www.bloomberg.com/news/articles/2020-02-18/morneau-eases-stress-tests-for-canadian-insured-mortgages

The problem with this new stress test is that the central bank is still allowing the 6 central banks to dictate the average interest rate that will be used as the benchmark stress test. This is unfair to those that know they get better rates and products from monoline lenders.

A New Year brings another opportunity to cultivate healthy financial habits and manage your money better. When you consult a mortgage expert, you will receive unbiased advice on how to make wise investments and help set you up for the future. As a mortgage broker or specialist in Calgary, Alberta, I, Keith Uthe, want to ensure you become more financially secure, and to do so, I have put together a list of five tips to help you improve your finances in 2020.  

The Bank of Canada has once again decided to hold the prime lending rate at 1.75%.  What this means for borrowers is that the prime rate used for most lenders is 3.95% in calculating adjustable/variable-rate mortgages.  Contact me with questions or requests for more information.  https://globalnews.ca/news/6445742/bank-of-canada-rate-announcement-jan-22-2020/

Today, buying a house can be much easier than before, with the abundance of
financial options available through a Mortgage Broker. Although Banks do not, Mortgage Brokers do offer a variety of financial products to suit a broad range of homebuyer’s needs. However, without a thorough understanding of what these mortgages entail, you could deplete your finances quickly.

Keith Uthe Demystifying Mortgages wishes you the happiest of holidays this season. May the New Year be filled with joy, health, and prosperity!

My personal vision is that ‘Everyone shall live a life of abundance.’ With that in mind, let us start 2020 off on the right foot by scheduling your five-minute mortgage review with me. Five minutes of your time could save you thousands of dollars in mortgage interest and increase your financial abundance. In recent months, we have saved clients’ between $8,000 and $20,000 in mortgage interest. Wouldn’t it be great to add that money to your wealth rather than the banks’ wealth?

The federal election is over and it will be interesting to see over the coming months how this will affect the Canadian mortgage and real estate market.

Many agree that mortgage rules and related policy will not be a significant priority for the Liberal government during this term. However, they have made an election promise to increase eligibility of their recently introduced First Time Homebuyer Incentive plan to assist those in larger markets such as Vancouver and Toronto.