scotiabank

Scotiabank reports on its variable-rate mortgage portfolio

70% of Scotiabank’s mortgage originations in Q1 were multi-product deals

February 27, 2024 No Comments

Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients.

Despite easing rates, bank CEOs say clients face $400-$500 monthly mortgage payment hikes at renewal

January 11, 2024 No Comments

An anticipated decline in interest rates over the course of 2024 should help soften the impact of mortgage renewal payment shocks, according to RBC President and CEO Dave McKay.

Mortgage deselection: Can your lender choose not to renew your mortgage?

December 11, 2023 No Comments

With an estimated three million Canadians facing a mortgage renewal over the next 15 years, many borrowers are asking a very important question: does my lender have to renew my mortgage?

Scotiabank expects credit losses to worsen with over $200B in mortgages coming up for renewal by 2026

November 28, 2023 1 Comment

Scotiabank saw a rise in mortgage delinquencies in the fourth quarter, and said it’s bracing for further credit losses due to higher-for-longer interest rates and a wave of upcoming mortgage renewals.

Three of the big banks have just lowered fixed mortgage rates. Will more follow?

November 20, 2023 No Comments

Lenders have been dropping fixed mortgage rates over the past few weeks…except for the Big 6 banks. But that changed this weekend when three of the big banks finally lowered select rates.

Scotiabank report on government spending impact on monetary policy

Interest rates are higher than they should be due to government spending: Scotiabank

November 19, 2023 1 Comment

Canadian interest rate are about 200 basis points higher than it otherwise would be due to government spending at all levels, including billions spent on pandemic relief.

No rate cuts expected until second half of 2024, says BMO

September 26, 2023 No Comments

BMO Economics released its updated rate forecast today, reducing the amount of monetary policy easing it expects from the Bank of Canada in 2024.

Scotiabank continues to slow its mortgage business in favour of multi-product clients

August 30, 2023 1 Comment

Scotiabank continued to deliberately slow its mortgage lending in the third quarter amid heightened economic risk and as part of its plan to be more selective with onboarding new clients.

Latest in mortgage news: More education needed on mortgage rates, survey shows

August 17, 2023 No Comments

When it comes to understanding mortgage rates and their impact on monthly payments, many Canadian borrowers have room for improvement.

Scotiabank announces competitive pricing

Scotiabank’s return to competitive mortgage pricing is “huge” for brokers

July 31, 2023 No Comments

Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive