In Toronto, even low-rise homes are losing their affordability.
Scotiabank has appointed a new group head of Canadian banking.
Credit union and mortgage lender Meridian has opened its first office in Cambridge.
Defaults on mortgages insured by the Canada Mortgage and Housing Corporation accounted just 0.34 per cent of its total book for the first quarter of 2015.
Almost as soon as Canada’s GDP figures were released economists began talking about the potential requirement for a further cut in interest rates.
Canada’s biggest banks all reported results last week and exceeded expectations.
The CMHC’s latest annual survey of mortgage consumers reveals some interesting insights into the habits and thoughts of those we do business with.
Some of Canada’s biggest mortgage lenders continue to beat the expectations of analysts as they report their 2nd quarter results this week.
The share of the mortgage insurance market held by Canada Mortgage & Housing Corporation is down to 50 per cent, a record low and a big drop from the 90 per cent it held in 2008.
As expected the Bank of Canada held interest rates at 0.75 per cent Wednesday and believes that the economy will improve in the second quarter with non-energy exports growing as the US economy continues to pick up.
Canada’s banks and mortgage lenders are reporting their second-quarter results this week with Bank of Montreal and National Bank of Canada the first to do so.