Mortgage

FSCO issues $1.1M in penalties over syndicated mortgage investments Fallback Image Decorative pattern

Industry

FSCO issues $1.1M in penalties over syndicated mortgage investments

Four brokerages and four brokers were caught in the investigation

By Staff |February 2, 2018

2 min read

Updated: Banks hike prime lending rates to 3.45% Fallback Image Decorative pattern

Industry

Updated: Banks hike prime lending rates to 3.45%

Note: This post was updated on Jan. 17, 2018, to include Scotiabank. BMO, CIBC, RBC, Scotiabank, TD and Desjardins today increased their prime lending rates by 25 basis points to 3.45% from 3.20%, effective January 18, 2018. The increased rate will affect the cost of variable-rate lending, including variable-rate mortgages. The hike comes after the […]

By Staff |January 17, 2018

1 min read

HomEquity’s reverse mortgage applications up 32.5% in 2017 Fallback Image Decorative pattern

Industry

HomEquity’s reverse mortgage applications up 32.5% in 2017

Reverse mortgage applications are on the rise for at least one lender. Read: UPDATED: Several banks hike five-year fixed mortgage rates HomEquity Bank posted reverse mortgage originations of $608 million for 2017. (An origination involves the process of applying for and processing a loan application.) By email, a bank spokesperson said the 2017 originations represent […]

By Staff |January 16, 2018

1 min read

Housing construction stable in Canada Fallback Image Decorative pattern

Economic Indicators

Housing construction stable in Canada

The trend in housing starts was 226,777 units in December 2017, compared to 226,178 units in November 2017.

By Staff |January 9, 2018

5 min read