Time for Canada to “Embrace” 30 Year Mortgages?: Financial Post [Video]

#Canadarealestate #CanadianMortgages #CanadianRealEstate

It may be time for Canada to ‘Embrace’ 30 year mortgage in order to make real estate more affordable – This according to a new report from the Financial Post. While Canada once had 40 year amortizations, that shrunk considerably down to 25 in the aftermath of the 2008 financial crisis – and some are asking that extended amortization make a comeback.

Links:

Is it time for Canada to embrace the 30-year mortgage?:

https://financialpost.com/real-estate/mortgages/is-it-time-canada-embrace-30-year-mortgage

Is it time for Canada to embrace the 30-year mortgage?:

https://www.msn.com/en-ca/money/topstories/is-it-time-for-canada-to-embrace-the-30-year-mortgage/ar-BB1jSnFy?ocid=ansMSNMoney11

Canada’s housing affordability crisis: Industry experts clash on relief solutions:

https://www.canadianmortgagetrends.com/2023/07/canadas-housing-affordability-crisis-industry-experts-clash-on-relief-solutions/

CHBA proposes 30-year mortgages for new builds:

https://www.mpamag.com/ca/news/general/chba-proposes-30-year-mortgages-for-new-builds/476507

Indicators of financial vulnerabilities:

https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/

OSFI urges lenders to be vigilant amid “heightened risk” in the mortgage market:

https://www.canadianmortgagetrends.com/2024/03/osfi-urges-lenders-to-be-vigilant-amid-heightened-risk-in-the-mortgage-market/

Canada 5 Year Government Bond:

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

Treasury Yields Surge as Inflation Sows Doubt on Rate Cuts:

https://www.bloomberg.com/news/articles/2024-03-14/treasury-yields-reach-weekly-highs-as-inflation-data-disappoint?utm_source=google&utm_medium=bd&cmpId=google

Consumer price index portal:

https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes

No respite for Canadian housing affordability in Q4 2023:

https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/housing-affordability.pdf

High rates and prices make it less affordable to own a home in Canada:

https://thoughtleadership.rbc.com/high-rates-and-prices-make-it-less-affordable-to-own-a-home-in-canada/

Equitable Bank Introduces 40-Year Non-Stress-Tested Mortgages:

https://www.mortgagelogic.news/equitable-bank-introduces-40-year-non-stress-tested-mortgages/

Latest in mortgage news: Equitable Bank unveils 40-year amortization mortgage:

https://www.canadianmortgagetrends.com/2023/10/latest-in-mortgage-news-equitable-bank-unveils-40-year-amortization-mortgage/

Homebuilders group pushing for 30-year mortgages to boost construction in Canada:

https://ca.finance.yahoo.com/news/home-builders-group-pushing-30-191658189.html

The end is here for 40-year mortgages:

https://www.cbc.ca/news/business/the-end-is-here-for-40-year-mortgages-1.745656

Ottawa caps CMHC mortgages at 25 years:

https://www.cbc.ca/news/business/ottawa-caps-cmhc-mortgages-at-25-years-1.1171007

Ottawa tightens mortgage rules to avert household debt crisis:

https://financialpost.com/personal-finance/mortgages-real-estate/ottawa-cuts-mortgage-amortizations-to-25-years

National Statistics:

https://creastats.crea.ca/en-CA/

Loan Comparison Calculator:

https://www.calculatestuff.com/financial/loan-comparison-calculator

What a 25-Year Amortization Means to Canadians: BMO:

https://newsroom.bmo.com/2012-06-21-What-a-25-Year-Amortization-Means-to-Canadians-BMO

It’s time to allow for increased amortization periods from 25 to 30 years:

https://www.thestar.com/opinion/contributors/it-s-time-to-allow-for-increased-amortization-periods-from-25-to-30-years/article_1d6da068-42f6-5c56-9015-211ebc9e8445.html

Changing amortization, cap on insured mortgages not the answer to affordability: CMHC:

https://www.bnnbloomberg.ca/changing-amortization-cap-on-insured-mortgages-not-the-answer-to-affordability-cmhc-1.1935122

CMHC CEO rejects idea of extending mortgage amortization period:

https://www.theglobeandmail.com/business/article-cmhc-max-length-new-insured-mortgages/

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