Happy New Year, BFS clients
Ottawa's move to increase by $50-billion the amount of residential mortgages it will back through Genworth and Canada Guaranty may ultimately accrue to the benefit of alternative clients, suggest some brokers.
Montreal condo market slips
For the first time since 2008, average prices of condos in the Greater Montreal Area tumbled, due largely to tougher mortgage rules and an increase in the amount of inventory, according to a recent report from the Greater Montreal Real estate Board.
Pre-sales bump up Toronto housing starts
Buoyant pre-sales activity for multi-unit projects primarily in the Greater Toronto Area lifted housing start numbers to 222,900 units for the whole of Canada last month but “moderation” is still expected for the remainder of 2013 and the next year, according to CMHC.
Rosy condo market forecast for 2013
Never fear, brokers: First-time buyers, retirees and population growth will fuel the condo market in key Canadian markets this year and next, according to Genworth. Although, some more than others.
Genworth bags CMHC 'bulk' business
Genworth saw its high-ratio premiums slip in the second quarter compared to the year-ago period, driven by weakening demand and growth in low-loan-to-value activity
Level the playing field for Genworth, expert warns
Amid growing economic uncertainty in Canada’s housing market, mortgage finance expert Jane Londerville has called for a levelling of the playing field for government-backed residential mortgages.
S&P puts Genworth under looking glass
S&P may not be as bullish on the Canadian housing market as brokers, adjusting the rating for Genworth Canada to “stable” from “positive,” citing concerns about consumer debt loads, among others.
Canada's best mortgage professionals honoured
Westerners challenged Ontario dominance at the 2012 Canadian Mortgage Awards Friday, the industry celebrating that excellence in Roarin’ 20s style at Toronto’s historic Carlu.
Mortgage approvals to grow: Conference Board of Canada
A new report is predicting conventional mortgage approvals to grow by 4.8 per cent in 2012 with total mortgage approvals rising 1.8 per cent, though that is down from earlier predictions.
High-ratio deals morph to conventional
Brokers focused exclusively on high-ratio A deals may be increasingly out of luck, with both mortgage insurers and analysts suggesting a large chunk of that business has already crossed over into other, more complex categories.