FTB squeeze, Foreign tax, CENTUM president, Fixed rate deals, CIBC slams policy, Bank results, More

First-time buyers feeling the squeeze in rising-rate environment

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26 October 2022

Top news First-time buyers feeling the squeeze in rising-rate environment Turning to the so-called "Bank of Mom and Dad" can have its own pitfalls, says industry expert CENTUM president talks growth, next steps as company marks 20 years CMP caught up with the broker network exec in Vancouver Extra wiggle room with 35-year amortization With interest rates on the rise, affordability is a big concern for borrowers. In this scenario, the borrower needed help with cashflow to pay off some debt. Our expert BDM worked with the mortgage broker to help lower their client's monthly payments and free up some ratio room. The solution? Refinancing on a 1-year term at 6.19% with a 35-year amortization. Now, the client has an extra $800 monthly to pay off debt. Deal done. Bridgewater Bank CMP and CMBA-ON unveil new partnership CMP's report surveys will become available to an even wider audience Banking giant notes huge profit in Q3 amid bids to sell It's an opportune time for its global parent Top Lenders Power Panel How are some of the country's leading lenders approaching the current market? Short-term fixed rate mortgages rise They move as affordability declines CIBC CEO slams immigration policy With surging house prices and a dwindling workforce, "Canada has work to do," he says Insurance industry recommends climate risk scores for houses It would indicate a property's susceptibility to natural disasters Ontario increases foreign homebuyer tax Province's tax rate now the highest in Canada Homebuilder's orders plunge 65% Canadian market in a deep freeze Finance Minister emphasizes Bank of Canada's independence Comments come ahead of expected rate rise Canadians are delaying home purchases amid rising economic pressures New report details "cooling effect" of interest rate increases and recession fears Why are more women leaving their jobs than men? Research reveals glaring disparities International news Brokers – here's how to survive a tough economic period "Difficult times make brokers' roles more critical" It's going to be a big interest rate increase Huge CPI increase puts pressure on RBA for "aggressive" rise Mortgages in Walmart – what's behind the relationship? Attention Walmart shoppers: Mortgages on Aisle 1! Mortgage broker to borrowers: Spread the risk This after rates jump significantly, prompting increased OCR forecasts CMP Talk Challenges in Canada's mortgage market It's been a dramatic year - here's how to keep business on track

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