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.
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.
💡See also: 5yr Yield Up 3 Bps as Jobs Report Looms Large 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.
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.
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Yields inched higher ahead of the second-most anxiously awaited economic ritual of the month—StatCan's monthly job lotto, also known as the Labour Force Survey. Here’s what jerked yields around on Thursday, and in which direction.
Yields inched higher ahead of the second-most anxiously awaited economic ritual of the month—StatCan's monthly job lotto, also known as the Labour Force Survey.
Here’s what jerked yields around on Thursday, and in which direction.
Reader note: As some folks have been missing the stories in MLN's daily summaries, each article will now be sent by email. Barring momentous news, however, we'll spare your inbox to two mails a day. The Bank of Canada showed up today, but rates barely noticed.
The Bank of Canada showed up today, but rates barely noticed. Instead, its policy pause was overshadowed by America's bad day on the macro circuit. Treasury yields tumbled, and Canadian rates went along for the ride.
Here's more on what shifted Canada's 5-year yield today, and in which direction:
Tomorrow's Bank of Canada meeting effectively marks the one-year anniversary since the BoC started its rate cut campaign, one in which it's shaved a cool 225 basis points off floating-rate borrowing costs. On the eve of the Bank of Canada's rate decision, yields climbed.
Tomorrow's Bank of Canada meeting effectively marks the one-year anniversary since the BoC started its rate cut campaign, one in which it's shaved a cool 225 basis points off floating-rate borrowing costs.
On the eve of the Bank of Canada's rate decision, yields climbed. Here's what moved them, and in which direction:
💡See also: Mortgage Tidbits below. 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
Fresh numbers suggest that more buyers may finally catch a break:
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?
Here's what's shifted yields this Monday, and in which direction:
Here's what's shifted yields this Monday, and in which direction:
