Canadian Mortgage News

The Latest News and Developments For
Mortgages in Canada

Home Mortgage's Latest Breaking News

• Reverse Mortgages for Home Purchases New York Times - Jun 27 6:52 AM Until recently, few lenders were ready to offer loans that allow older borrowers to use reverse mortgages to buy a principal residence.
  
  
• S&P May Cut $235.2 Billion in Commercial Mortgages (Update2) Bloomberg - Jun 26 2:08 PM June 26 (Bloomberg) -- The ratings on $235.2 billion in debt backed by commercial mortgages may be cut by Standard & Poors as it seeks to reflect how the securities would fare in an extreme economic downturn.
  
  
• JPMorgan, Citigroup Expand in Jumbo Home Mortgages (Update2) Bloomberg - Jun 26 1:23 PM June 26 (Bloomberg) -- JPMorgan Chase & Co. and Citigroup Inc. are expanding in jumbo mortgages used to buy the most expensive homes, helping revive a market that shriveled amid a three-year jump in homeowner defaults.
  
  
• Two new websites can help buyers save on closing costs and mortgages Los Angeles Times - Jun 26 6:50 PM Closing.com has a vendor database of nearly 150,000 firms in 14 categories, and fairmortgage.org lists dozens of lending organizations that promise to offer safe mortgages at fair prices. One of the problems with new Internet-based ventures is that they often lack critical mass. Jeff Lazerson, a Laguna Niguel mortgage broker, found that out firsthand.
  
  
• Buyers are back but beware bigger mortgages The Herald - Jun 26 4:05 PM There are signs that buyers are returning to the housing market, but anyone thinking of moving home should expect to pay more for their mortgage. Estate agents last month registered four house-hunters to every available property.
  
  

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