cibc

Non-owners feel locked out of homeownership

Entry to housing market feels out of reach for 76% of non-owners: CIBC poll

April 12, 2024 No Comments

Three in four Canadians who don’t own a property say buying a home feels out of reach, a new poll shows.

CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses

March 3, 2024 No Comments

CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren’t expected to translate into “material” losses, the bank said.

What is the likelihood of a soft landing in Canada

What history can tell us about soft landings and the pace of rate cuts that usually follow

February 22, 2024 No Comments

Contrary to skepticism, the Bank of Canada actually has a proven track record of successfully managing soft landings more often than not.

Housing supply gap worse than first thought: 5 million extra homes needed by 2030, CIBC says

February 8, 2024 1 Comment

A new report from CIBC deputy chief economist Benjamin Tal suggests Canada’s housing supply gap is even worse than first thought.

13,000 CIBC mortgage clients have come out of negative amortization

December 18, 2023 4 Comments

Over the past three months, roughly 13,000 CIBC clients have taken action to bring their mortgages out of negative amortization.

Latest in mortgage news: BC regulator slaps CIBC with $3.4M fine over mortgage violation

October 19, 2023 No Comments

CIBC was recently fined over $3.4 million by British Columbia’s consumer protection agency, Consumer Protection BC, due to violations related to mortgage discharge documentation.

CIBC’s Tal: “We are very, very close to the end of monetary tightening”

October 17, 2023 2 Comments

CIBC deputy chief economist Benjamin Tal said that while we’re are very close to the end of Bank of Canada rate hikes—or maybe already there—the biggest question is when the Bank will being cutting rates.

CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year

September 12, 2023 5 Comments

CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates.

Over half of CIBC variable-rate mortgage holders have reached their trigger rate

March 1, 2023 2 Comments

Over 70% of CIBC’s variable-rate customers are seeing all of their mortgage payments go towards servicing interest costs.

CIBC mortgage amortizations soar given its heavy weighting of variable-rate mortgages

December 2, 2022 No Comments

With a third of its mortgage portfolio having variable rates, CIBC saw its amortizations soar as of the fourth quarter.