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How artificial intelligence is transforming the origination of mortgages

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In many industries, artificial intelligence (AI) has become a transformational force. The mortgage sector is no different. Artificial intelligence (AI) is changing how mortgages are created, underwritten, and maintained thanks to its capacity to analyze enormous volumes of data, automate procedures, and offer insightful analysis. In this article, we’ll examine how artificial intelligence (AI) is …

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Increasing fixed mortgage rates are anticipated as bond yields hit a 16-year high

Are lenders increasing fixed mortgage rates, including some major banks again?

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Mortgage rate rises have been commonplace during the last two weeks at mortgage lenders, including a number of the Big 6 banks. The change comes after a more than 70 basis point increase in the yield on the 5-year bond issued by the Government of Canada, which ordinarily sets fixed mortgage rate pricing. As of …

Are lenders increasing fixed mortgage rates, including some major banks again? Read More »

April saw an increase in inflation. Could that pave the way for additional rate increases?

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After a five-month decline, Canada’s headline inflation rate increased in April. The consumer price index increased slightly from the 4.3% growth seen in March to 4.4% in April, according to the most recent statistics from Statistics Canada. Rent rises (+6.1% year over year), petrol price increases (+6%), and mortgage interest rate increases (+28.5%) all contributed …

April saw an increase in inflation. Could that pave the way for additional rate increases? Read More »

What is a credit score, and how can you maintain a high score?

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Our financial journey depends on our credit score. It is a quantification of your creditworthiness that lenders use to assess your likelihood of repaying debts. Better interest rates, larger loan amounts, and credit card benefits may be available to you if your credit score is good. This blog post will explain what a credit score is, …

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Key interest rate increased by ECB to 3.75%

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In response to a comparable action by the US Federal Reserve, the European Central Bank announced a modest interest rate increase. The inflation prognosis, it said, remained “too high for too long.” In an effort to control inflation, the European Central Bank (ECB) announced a 0.25% increase on Thursday, raising the eurozone’s benchmark interest rate …

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In 2023, Mortgage rates will begin to decline- Good news for Homebuyers

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An encouraging development for those looking to purchase a home is that, following months of rising mortgage rates spurred by growing inflation and the US Federal Reserve’s raising base rates to battle that inflation, there are now indications that the average home lending rate in the US is starting to decrease. Let’s examine what is …

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Will housing prices ever drop in the Greater Toronto Area again?

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Will homes ever be affordable in the Greater Toronto Area? This important topic is raised by numerous publications on Toronto real estate that estimate the average cost of a home at approximately $1 million. Housing specialists told BNNBloomberg.ca that it is improbable because young people would continue to struggle with affordability for years to come, …

Will housing prices ever drop in the Greater Toronto Area again? Read More »

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Sales and prices of homes increased in March. Is this the beginning of a trend?

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In March, existing house sales and average prices increased on a monthly basis while housing supply continued to shrink. According to the most recent data from the Canadian Real Estate Association, there was a seasonally adjusted increase of 1.4% from one month to the next. That comes after a 1.5% increase in February, the first …

Sales and prices of homes increased in March. Is this the beginning of a trend? Read More »

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