MLN NewsStream

If you're a national lender or broker and you want to know how your average loan sizes stack up, these are the latest benchmarks from Equifax.

Natural disasters are hitting Canadians harder and more often, causing severe financial, physical, and emotional stress for mortgagors.

Default insurers want borrowers to know: help is available. All three have recently reaffirmed mortgage relief options for those impacted.

Here's more...

Fresh numbers suggest that more buyers may finally catch a break:

• National benchmark home prices are 18% off their peak
• Weekly paycheques have climbed 18% in 48 months
• Mortgage insurance rules are their loosest in years, and
• Mortgage rates are flirting with three-year lows.

Mortgage affordability is suddenly on a hot streak, with #GDS# ratios crashing to a 52-month low, according to MLN's calculations.

Indeed, MLN's data suggest the national average GDS ratio now sits at just 35.6% (see chart below). We're talking levels not seen since January 2021.

If you use today's leading contract rates instead of OSFI's #MQR#, GDS is even lower at 30.6%.

Better buying power should add more grease to the wheels, boost transaction flow and deliver welcome tidings for the mortgage sector. But when’ll this party kick off?
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