fixed-rate

Canada relaxes some mortgage rules to tackle housing crisis

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Canada relaxes some mortgage rules to tackle housing crisis

Finance Minister Chrystia Freeland on Monday announced changes to some mortgage rules as part of an effort to make housing more affordable, although some housing experts are doubtful that the new measures will have a meaningful long-term impact on housing affordability and say they might even push prices up. The federal government will increase the cap on insured mortgages … Read more

Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHC

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Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHC

Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’t last, according to Canada’s housing agency. Canadian mortgage debt totalled $2.16 trillion that month, up 3.4 per cent from the same period last year — a historically low … Read more