Mortgage Possession Actions Recovery Update

Mortgage possession actions slowly recovering

The voice of the UK mortgage i... The voice of the UK ... | 1 year ago

Mortgage possession actions are slowly recovering from the impacts of Covid-19, according to the latest mortgage and landlord possession data from the Ministry of Justice (MoJ). The data from Q1 2022 found that as a result of the pandemic and associated actions, all mortgage possession actions have dropped significantly compared to Q1 2019. During the ... This story continues at Mortgage possession actions slowly recovering Or just read more coverage at Mortgage Finance Gazette

Equitable Bank's mortgage arrears rate triples amid surge in renewals - Mortgage Rates & Mortgage Br...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 month ago

Equitable Bank saw its mortgage arrears rate triple over the past 12 months now that a majority of its clients have renewed at higher interest rates. The alternative mortgage lender reported that 0.54% of its residential mortgage portfolio is in arrears as of the first quarter, up from 0.25% two quarters ago and 0.18% in Q1 2023. It said the rise in missed payments was due to 85% of its uninsured residential mortgage clients having already renewed their terms at higher interest rates. That’s...

The Latest in Mortgage News: RBC downgrades its housing market forecast - Mortgage Rates & Mortgage ...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

RBC says it expects the country’s housing correction to “deepen” in the coming months with resale activity and prices falling more than expected. The bank now sees home resales falling nearly 23% this year and 15% next year, with the national benchmark price falling a total of 12% “from peak to trough” by the second quarter of 2023. “This would also rank as the steepest correction of the past five national downturns,” wrote RBC economist Robert Hogue. “We expect local outcomes...

BSA and Money Advice Trust launch mortgage arrears guide

The voice of the UK mortgage i... The voice of the UK ... | 1 year ago

The booklet – called ‘What to do if you can’t pay your mortgage’ – covers six steps borrowers must take to ensure they do not lose their homes, such as what to expect when you contact a lender, the role of debt advisers and a section on where to turn for further help. It also dismisses some of the ‘urban myths’ associated with having mortgage arrears, claim the organisations. The bodies say: “Despite what some people believe, telling your lende...

Lender execs weigh in on today's mortgage market - Mortgage Rates & Mortgage Broker News in Canada

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

It’s not every day we get to hear from the executives of some of Canada’s top mortgage lenders, let alone having four in a room at the same time. But that opportunity presented itself during the ever-popular lender panel at Mortgage Professionals Canada’s recent National Mortgage Conference in Vancouver. The panel included: The panelists weighed in on a variety of hot topics related to the current market conditions. We’ve included some of the key comments below. Has the stress test d...

The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year.

Canadian Mortgage News Daily — June 1, 2021

ratespy ratespy | 2 years ago

READER NOTE: Starting next week, the Spy will replace the Canadian Mortgage News Daily with a new more value-added bi-weekly report. RateSpy’s breaking mortgage news is now at → RATESDOTCA. Here’s a daily helping of fresh Canadian mortgage news: Can the BoC Manage Inflation Expectations? (RATESDOTCA) Three Cities Have Exuberant Home Prices: BoC (RATESDOTCA) Government’s mortgage policy will hurt lower-income Canadians even more (Ottawa Citizen) New stress test level makes it harder to qu...

Canadian Mortgage News Daily — May 31, 2021

ratespy ratespy | 2 years ago

Here's a daily helping of fresh Canadian mortgage news (the ita

NBC says rising rates will lead to mortgage market "normalization" - Mortgage Rates & Mortgage Broke...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

National Bank of Canada, the smallest of the Big 6 banks, reported third-quarter earnings in line with market expectations. The bank’s executive team said its real estate-secured lending portfolio (i.e. mortgages and home equity lines of credit), performed well in the quarter, but that a slowdown is imminent in the coming quarters due to rising interest rates. “While higher rates have already impacted the housing market through lower volumes and prices, the resilience in our RESL portfolio...

Have fixed mortgage rates peaked? - Mortgage Rates & Mortgage Broker News in Canada

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

Notwithstanding some additional rate hikes last week, fixed mortgage rates have seemingly plateaued following a stellar run-up over the past several months.

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Mortgage possession actions slowly recovering

Mortgage possession actions slowly recovering