Purview® Service Interruption: Please note, due to system maintenance, we may experience a service interruption during the following period: Friday, February 2 at 10:00 p.m. to Saturday, February 3 at 1:00 a.m. We apologize for any inconvenience this may cause. Have any questions? Call 1.855.787.8439 or email firstname.lastname@example.org.
Purview® Potential Service Interruption: Please note, due to system maintenance, we may experience a service interruption during the following period: Friday, January 26 at 10:15 p.m. to Saturday, January 27 at 3:30 a.m. We apologize for any inconvenience this may cause. Have any questions? Call 1.855.787.8439 or email email@example.com.
The Bank of Canada key interest rate has gone up again, for the third time in the past six months. On January 17, 2018, Canadians learned the BOC interest rate is increasing another quarter of a percent, going up to 1.25%. This is the highest the key interest rate has been in Canada in nine years. “Recent data have been Continue Reading
When it comes to real estate valuation models, automated valuation models (AVMs) are one of the most popular for lenders. There’s a reason for that — well, more than one reason. AVMs bring value in underwriting and validating that the home you, the lender, is financing is worth it. But there are more advantages to using the data contained within Continue Reading
In December the Teranet–National Bank National Composite House Price IndexTM edged up 0.2% from the previous month, interrupting a three-month run of declines. However, only five of the 11 metropolitan markets surveyed showed index increases. The one-tick rise of the composite index was due to a 1.3% jump of the index for the large Vancouver market. The other indexes showing gains Continue Reading
With property interest rates increasing, rumours of a bubble in cities like Toronto, and speculation that some housing markets are cooling, average Canadian homeowners — especially those in debt — are likely nervous. This is the perfect environment for the most dangerous type of fraud: property valuation fraud — the homeowner committing what they think are innocent omissions that could Continue Reading
In October 2016, British Columbia introduced a new real estate policy: the foreign buyers’ tax, which added on 15% more tax for home purchasers from out of country. In April 2017, the Province of Ontario followed suit with the Ontario foreign buyers’ tax. But more than one year later, many are asking the question — has the B.C. foreign buyers’ Continue Reading
According to the UBS Global Real Estate Bubble Index for 2017, the risk of a Toronto housing market bubble is real. In fact, the report states that “bubble risk seems greatest in Toronto, where it has increased significantly in the last year.” Comparable cities in other countries — Stockholm, Munich, Sydney, London, Hong Kong and, closer to home, Vancouver — Continue Reading
Teranet has been named one of Greater Toronto’s Top Employers for 2018! MediaCorp Canada Inc. holds an annual competition to recognize the best companies in the Greater Toronto Area by evaluating work environments — and Teranet’s work environment was deemed one of the best. See the reasons why Teranet is such a great employer: https://www.teranet.ca/teranet-news/teranet-named-top-toronto-employer/.
As a lender, you likely already know the importance of networking events. More potential for lead generation, industry-specific news and perspectives, and building stronger relationships are just some of the advantages. If you’re lending to homeowners or homebuyers, then Canadian mortgage industry events are some you likely want to consider attending. They’ll put you in closer contact with those in Continue Reading