Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).
Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.
- Can’t afford a house? It’s likely not your fault (Globe & Mail – Subscription)
- Digital banking platform launches new “one-stop-shop” service (Mortgage Broker News)
- A lender that depends on brokers partners with one brokerage over hundreds of others. Pretty gutsy. (And many brokers probably have another word for it.)
- Is your credit score strong enough to buy a home? (Financial Post – Subscription)
- The story reads: “It often takes a credit score of at least 560 to qualify for a decent mortgage.” The author clearly has a liberal definition of “decent mortgage.” 560 is non-prime lending folks. And despite this article, there are plenty of options for people with scores that low. If you want the most attractive rates, however, aim for 680 to 720+.
- Remote work has boosted Canada’s hot housing market, but how long will the boom last? (Globe & Mail – Subscription)
- Why Ottawa doesn’t rein in runaway house prices (Regina Leader-Post)
- Ouch: “…Household debt in Canada is now twice the average of all G7 countries.”
- Calgary home sales up 462%, reach hit record high in April: CREB (BNN Bloomberg)
- Cowtown might be singing a different tune if spot oil (WTI) wasn’t up 232% in 12 months.
- Millennials are fleeing Canada’s big cities as Big Government coddles boomers (National Post – Subscription)
- Rise of the suburbs (Toronto Sun)
- ‘How is this legal?’: Real estate sales tactics under fire as Canadian home prices spiral out of control (Globe & Mail – Subscription)