Latest News

Shawna MacDonald CMP Top 75

posted by The Mortgage Associates    |   June 1, 2015 09:03

Click here to read the article featuring Shawna MacDonald as #26 with CMP Top 75 Brokers.

CMHC to increase mortgage insurance premiums

posted by The Mortgage Associates    |   April 21, 2015 19:40

CMHC to increase mortgage insurance premiums

Article by CMHC, April 2, 2015

"OTTAWA, ONTARIO--(Marketwired - April 2, 2015) - As a result of its annual review of its insurance products and capital requirements, CMHC is increasing its homeowner mortgage loan insurance premiums for homebuyers with less than a 10% down payment. Effective June 1, 2015, the mortgage loan insurance premiums for homebuyers with less than a 10% down payment will increase by approximately 15%.

For the average Canadian homebuyer who has less than a 10% down payment, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. This is not expected to have a material impact on housing markets.

Premiums for homebuyers with a down payment of 10% or more and for CMHC's portfolio insurance and multi-unit insurance products remain unchanged. The changes do not apply to mortgages currently insured by CMHC.

"CMHC completed a detailed review of its mortgage loan insurance premiums and examined the performance of the various sub-segments of its portfolio," said Steven Mennill, Senior Vice-President, Insurance. "The premium increase for homebuyers with less than a 10% down payment reflects CMHC's target capital requirements which were increased in mid-2014."

CMHC is mandated to operate its mortgage loan insurance business on a commercial basis. The premiums and fees it collects and the investment income it earns cover related claims and other expenses while providing a reasonable rate of return on its capital holding target.

CMHC contributes to the stability of Canada's housing finance system, including housing markets, by providing qualified Canadians in all parts of the country with access to a range of housing finance options in both good and bad economic times."

To read the full article, please click here.

Crescent Point to spend $1B in Sask in 2015

posted by The Mortgage Associates    |   March 19, 2015 08:34

Crescent Point to spend $1B in Sask in 2015

Article by Bruce Johnstone, Leader-Post, March 12, 2015

"REGINA — Crescent Point Energy Corp. is staying the course in 2015, projecting increased oil and gas production and bucking the industry trend toward major cuts in production and staffing in response to low oil prices.

Canada’s fourth-largest independent oil and gas company and the country’s top driller — based on exploratory and development metres drilled in 2014 — plans on spending more than two-thirds of its $1.45-billion capital budget in Saskatchewan this year, the company announced Wednesday.

The Calgary-based company credits its hedging program, which will see more than half of its 2015 production and one third of 2016 production locked in at higher prices, and cost reductions of up to 20 per cent, for being able to implement its 2015 business strategy."

To read the full article please click here.

Canadian Housing: "There have clearly been corrections in progress"

posted by The Mortgage Associates    |   March 12, 2015 15:12

Canadian housing:  "There have clearly been corrections in progress"

Article by Michael Babad, The Globe and Mail, March 12, 2015

"Canadian house prices may be up for the second month in a row, but a key report warns that “there have clearly been corrections” in some markets.

The Teranet-National Bank house price index rose in February by 0.1 per cent from January, but prices were actually up in just three of the 11 markets tracked in the report released Thursday.

Prices rose 1.5 per cent in Vancouver, 0.5 per cent in Victoria and 0.3 per cent in Hamilton. And that’s where it ends.

The index showed losses of 0.1 per cent in Toronto and Quebec City, 0.3 per cent in Calgary and Montreal, 0.6 per cent in Halifax, 0.8 per cent in Edmonton, 1 per cent in Winnipeg and 2.1 per cent in the Ottawa regions.

“In some markets there have clearly been corrections in progress,” said senior economist Marc Pinsonneault of National Bank."

To read the full article, please click here.

Rate shopping sites.. tested again.. and failed again

posted by The Mortgage Associates    |   March 9, 2015 08:12

Rate shopping sites..tested again..and failed again

Article by Steve Garganis, March 2, 2015

"A few years ago, I published a study on Rate shopping sites.   These sites were gaining popularity with consumers as a  place to go if you wanted to get the best rates.  And they attracted a lot of attention.

You know the sites… they have catchy ads like ‘shopping for the Best Mortgage rates in Canada’ or ‘comparing Canada’s mortgage brokers for the best rates’. 


Hey, who doesn’t want the best rate?  These ads work. Canadians were clicking these links to get more info.

Sounds great, right? Yet, it’s not."

To read the full article, please click here.

New Markets Opening Up To Canadian Businesses

posted by The Mortgage Associates    |   February 17, 2015 09:17

New markets opening up to Canadian businesses

Article by Scott Larson, The StarPhoenix, February 10, 2015

"Many Saskatchewan businesses have a chance to expand their opportunities by exporting to new markets; they just don't know how to do it.

"The U.S. will always be our No. 1 trading partner, but the growth opportunities are beyond North America," said Ed Fast, Minister of International Trade.

Fast, who was in Saskatoon recently and is currently leading a five-day trade mission to South Korea, said there is lack of awareness among small and mediumsized businesses of the tools that federal and other levels of government can provide to help them succeed in exporting."

To read the full article, please click here.

City's economy "very strong" & debt burden "very low": Report

posted by The Mortgage Associates    |   February 10, 2015 08:38

City's economy "very strong" & debt reduction "very low" : Report

News Release, City of Saskatoon, February 9, 2015

"The Standing Policy Committee on Finance today received a report reaffirming the City’s AAA/Stable Outlook credit rating. The report also includes some key factors international bond rating agency Standard & Poor’s (S & P) applies to award such a rating.

The Administration addressed questions from the committee about whether S & P had cautioned the City in its rating report.

“Our citizens need to know this is a very positive piece of news,” says Chief Financial Officer Kerry Tarasoff. “Despite a perception S & P may have cautioned the City over its debt load, the agency has not issued any warning.”

“We have a triple-A rating with a stable outlook which is a fantastic achievement and consistent with our past ratings,” Tarasoff says.

The report outlines S & P’s Ratings Score Snapshot in which the bond raters say Saskatoon has a very strong economy, very strong budgetary flexibility, strong budgetary performance, strong financial management, “exceptional” liquidity with a debt burden rating of “very low.”"

Click here to view the full News Release.

Rate Wars In The Broker Channel

posted by The Mortgage Associates    |   February 9, 2015 09:20

Rate Wars in the Broker Channel

Article yMarkKerzner, Special to CMT, February 6, 2015

"Competition in the mortgage origination market has benefited consumers, full stop.

Two years ago I wrote this column. It provided evidence that a strong broker channel keeps lenders competitive, thereby benefiting consumers. The same holds true today.

While broker share is approximately 30% of the total market, it operates as a check on the system, forcing all channels (including branch and mortgage sales force reps) to sharpen their pencils."

To read the full article please click here.

Saskatchewan's Diversified Economy

posted by The Mortgage Associates    |   February 6, 2015 08:32

Will the Bank of Canada slash interest rates to the bone?

posted by The Mortgage Associates    |   February 5, 2015 08:50

Will the Bank of Canada slash interest rates to the bone?

Article by Michael Babad, The Globe and Mail, February 3, 2015

"A big question in the markets is where the Bank of Canada goes next.

And at least one forecaster believes it will cut right to the bone.

In a new projection today, HSBC Bank PLC predicts the central bank will trim its benchmark rate again in the current quarter to 0.5 per cent, and then again in the second quarter of the year to just 0.25 per cent.

It was just last week that Bank of Canada Governor Stephen Poloz and his colleagues surprised the markets with a cut of one-quarter of a percentage point to 0.75 per cent, fuelling speculation that they could move again.

Indeed, Mr. Poloz, calling the cut an “insurance policy” amid the oil slump, said he was prepared to act further if need be.

David Watt, HSBC’s chief economist in Canada, said the central bank will in fact have to “remain cautious” for the rest of the year.

“The Canadian economy is going to be vulnerable through the first half of this year,” he added."

To read the full article, please click here.