Mike Bricknell

You should probably buy/renew/refinance soon as the BofC hints at making some changes to the Stress Test: .. if too many Canadian households start to become dangerously over-leveraged, policy-makers have several macroprudential tools they can use. Our experience with the mortgage-interest stress test shows how effective these tools can be. https://www.bnnbloomberg.ca/macklem-puts-dangerously-over-l

https://financialpost.com//9125a66c-9cd7-48b6-a571-14/amp/

The bond yield markets have been increasing lately (from positive COVID news, US election outcome, etc.), which typically leads to an increase of fixed mortgage rates: https://ca.finance.yahoo.com//record-low-fixed-mortgage-ra

.. the best predictor of whether somebody is going to repay their mortgage is whether they have a job. https://www.mortgagebrokernews.ca//cmhc-around-1bn-in-mort

I seem to remember something like this article was written during the 2017 run when home prices spiked back then. CMHC came out with the Stress Test in the attempt of cooling off the market which ultimately caused mortgage rates to raise during 2018.. Where are we now?... A Stress Test and record breaking low rates. https://www.cbc.ca/amp/1.5720402

What James Laird, CanWise Financial - Broker of Record is reporting to the media on the BofC’s rate decision today: The Bank of Canada once again reiterated that they are not going to go any lower. The Bank seems cautiously pleased with the beginning of the economic recovery that is underway. They noted the housing activity rebound that occurred over the summer and attributed it to pent up demand from the spring market. They continue to be committed to supporting the economi...c recovery by maintaining the overnight rate at its current record low. Canadians should expect the Bank to maintain its current stance for the foreseeable future which means that fixed rates will remain at their current record low. It also means that variable rate holders should not expect prime rates to change anytime soon. Anyone looking to purchase in the fall should get a pre-approval so that they understand how much they can qualify for and it guarantees the current market rates for up to four months. The real estate market rebound has caused mortgage lenders to compete by continuously lowering both fixed and variable rates to new historic lows.

Congratulations to the CanWise team for achieving Broker of the Year this evening for the past three years in a row. The dynasty is official!!!!

There is still hope for homebuyers: https://toronto.ctvnews.ca/this-toronto-home-is-selling-for

https://www.ratehub.ca//credit-utilization-the-credit-sco/

The flood of liquidity has a limited impact on preserving prices, but creates a massive withdrawal risk. https://betterdwelling.com/bank-of-canada-pumping-billio//

If the market rate today is a lot lower than what you have, then your penalty to break your mortgage is going to be quite large and so you are going to be neutral at best" https://toronto.ctvnews.ca//covid-19-pandemic-pushes-canad

A breath of fresh air. We’ll wait to see how lenders will react on this matter. https://www.mortgagebrokernews.ca//in-opposition-of-new-cm

Folks, we have broken the 1.99% for a 5-year Fixed-rate (less than 20% down purchase, and more than 35% down, or renewal with at least 35% invested in equity). Amazing!! https://www.mortgagebrokernews.ca//ratehub-cofounder-on-ho

Mortgage changes are coming this July so get your personal credit in order! https://ca.finance.yahoo.com//real-estate-canada-mortage-r

The mortgage stress test qualifying rate is decreasing on Monday.. Stay tuned! https://www.canadianmortgagetrends.com//latest-in-mortgag/

Something to ponder.. but something also to take advantage of as the timing could be the best chance to happily get into the housing market: https://www.vice.com//sadly-the-pandemic-could-be-millenni

Generally speaking, home prices aren’t budging much, because both the supply and the demand for homes have collapsed roughly in tandem, economists say. https://globalnews.ca//coronavirus-housing-market-goo/amp/

Some interesting objective insights but only an opinion at this point of time. Interested to know what your thoughts are about this sentiment? https://betterdwelling.com/canadian-real-estate-prices-cou/

It just was not well-thought-through really just a very unattractive offer for first-time homebuyers. https://globalnews.ca//first-time-home-buyers-incenti/amp/

For those who are keeping track of the Bank of Canada’s rate movements there is no change to the overnight lending rate, remaining at 1/4 percent. *More than 6 million Canadians had applied for the Canadian Emergency Response Benefit as of the beginning of April.* That’s around 17% of Canadians needing economic relief. https://business.financialpost.com//bank-of-canada-mai/amp

For those who need financial assistance (EI) and are still confused by the process, this will help guide you through the process: https://globalnews.ca//canada-emergency-response-bene/amp/

"As confidence returns, you'll see rates fall." https://www.cbc.ca/amp/1.5515884

A few days ago I was asked why mortgage rates are increasing as the Bank of Canada is decreasing.. this is a great article to sum it all up: https://www.bnnbloomberg.ca/mortgage-rates-are-rising-in-ca

Some great mortgage lingo included in this article to help purchasers and sellers understand the home sale transaction: https://business.financialpost.com//if-you-bought-a-ho/amp

Breaking news as of right now.. Insane!! http://www.bnnbloomberg.ca/bank-of-canada-cuts-key-rate-to-