mortgage renewals Archives - Page 2 of 3 - Mortgage Rates & Mortgage Broker News in Canada

Preparing for the next wave of renewals: Manulife’s unique solutions

April 22, 2024 No Comments

The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it.

Mortgage deselection: Can your lender choose not to renew your mortgage?

December 11, 2023 No Comments

With an estimated three million Canadians facing a mortgage renewal over the next 15 years, many borrowers are asking a very important question: does my lender have to renew my mortgage?

Equitable Bank says majority of its mortgage borrowers have already renewed at higher rates

December 8, 2023 1 Comment

Alternative lender Equitable Bank revealed today that a majority of its residential mortgage clients have already renewed at higher interest rates and have largely absorbed the increases.

RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026

December 2, 2023 No Comments

Despite interest rates having been elevated for over a year, Canada’s largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years.

Scotiabank expects credit losses to worsen with over $200B in mortgages coming up for renewal by 2026

November 28, 2023 1 Comment

Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it’s bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.

What rising inflation means for Bank of Canada rate hikes

Bond yields surge to new heights, mortgage rates expected to jump another 20 bps

October 4, 2023 No Comments

On Tuesday, the Government of Canada 5-year bond yield jumped to an intraday high of 4.46% before retreating somewhat to 4.42%. Over the past two weeks, yields have risen by over 40 basis points, or 0.40%.

Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada

May 19, 2023 4 Comments

The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal.

Mortgage borrowers concerned about their renewal

High interest rates have borrowers anxious about their mortgage renewal. What can they do?

May 12, 2023 No Comments

After a series of rate hikes, many of Canada’s variable rate mortgage holders are feeling the pain, and fixed-rate borrowers aren’t faring much better.

Equitable Bank reports resilient mortgage borrowers

Despite “sticker shock” of mortgage renewals, Equitable Bank says clients showing “remarkable resilience”

May 10, 2023 No Comments

Despite facing sharply higher mortgage rates on their mortgage renewals, Equitable Bank says its borrowers have so far shown “remarkable resilience.”

Mortgage renewal strategies in today’s high interest rate environment

May 7, 2023 No Comments

The current interest rate climate for mortgage brokers and their clients is dramatically different compared to just a year ago, requiring a whole new strategy when it comes to renewals.

mortgage renewals