amortizations Archives - Mortgage Rates & Mortgage Broker News in Canada

Budget 2024 housing highlights: capital gains inclusion rate on secondary homes rises to 66.7%

April 16, 2024 No Comments

Housing was a key priority in today’s federal budget, though it came as no surprise given the array of housing-related policy announcements unveiled in recent weeks.

Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes

April 11, 2024 2 Comments

Advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers.

Lenders reducing average amortization lengths

Latest in mortgage news: OSFI head applauds lenders’ efforts to shorten amortization lengths

April 1, 2024 No Comments

OSFI says it is encouraged by the progress Canadian lenders have made in reducing amortization lengths of the mortgages within their portfolios.

Some mortgage clients could see up to 40% payment increases at renewal, BMO says

December 4, 2023 No Comments

Like most other financial institutions, BMO said the bulk of its mortgage portfolio will be up for renewal in the coming three years, with the payment increases averaging up to 40%.

Canada’s housing affordability crisis: Industry experts clash on relief solutions

July 21, 2023 No Comments

The housing affordability crisis is pushing the dream of homeownership beyond the realm of possibility for many Canadians.

Tiff Macklem, governor of the Bank of Canada, and Carolyn Rogers, senior deputy governor of the Bank of Canada

Bank of Canada watching trend of longer amortization periods among borrowers

April 19, 2023 3 Comments

The Bank of Canada is investigating a growing trend of borrowers extending their mortgage amortization periods amid persistently high interest rates and ongoing inflationary pressures.

CIBC mortgage amortizations soar given its heavy weighting of variable-rate mortgages

December 2, 2022 No Comments

With a third of its mortgage portfolio having variable rates, CIBC saw its amortizations soar as of the fourth quarter.

The Latest in Mortgage News: Half of Canada’s Big Housing Markets Are Unaffordable

September 29, 2019 No Comments

A new study of 15 major urban centres across Canada shows that housing unaffordability continues to be a major concern in nearly half of those

amortizations