💡Reader note: MLN's weekly rate roundup and updated Amortization Simulator will follow later today. The government’s latest answer to housing unaffordability — giving first-time borrowers more tax breaks to build a down payment — has officially launched. It’s called the First Home Savings Account (FHSA), and in a

This week, capital markets executives were alarmed by an esoteric blurb buried deep in Tuesday’s federal budget. In that passage, the government hinted at terminating the $260 billion Canada Mortgage Bond (CMB) program. For lenders—especially non-deposit-taking bank competitors—that could be a problem. They rely on CMBs to

Hundreds of thousands of floating-rate mortgagors have one primary goal: maximizing monthly cash flow. For them, fixed-payment variable-rate mortgages are fantastic when rates are soaring —  not so much when rates are sinking. When the prime rate drops, these people also want their payments to drop.

The government of Canada just dropped its 2023 budget. Like last year, there were no major mortgage bombshells. Below is a quick rundown of the budget updates with lending relevance. Rate and inflation impact We haven't had a chance to dive deep into the inflation ramifications but suffice