With 60% of Canadian mortgages set to come up for renewal within the next three years, homeowners are facing a “payment shock” unless interest rates come down in a significant way, according to Royal Bank of Canada. $900 billion in Canadian mortgages will renew from 2024 through 2026. Bank lending is expected to shrink significantly over the coming quarters, says Torsten Sløk. Scotiabank has appointed Bogdaneris as head of its Canadian banking unit. Several executives, including Dan Rees, James Neate, and Shawn Rose, are leaving Scotiabank. Scotiabank's Canadian banking unit COO Kevin Teslyk is also departing. Bank of Canada's No. 2 official urges Canadian banks and regulators to take a hard look at mortgages that have allowed households to accumulate large amounts of long-term debt. Bank of Canada also expresses concerns about variable rate mortgage products.
Bank of Canada voices concerns about variable rate mortgage products -Bloomberg News https://t.co/sP1OQPEe2O https://t.co/9b7YCUUBwm
Bank of Canada's Rogers urges shift by banks on mortgage lending -Bloomberg News https://t.co/csY0Dfbps1 https://t.co/H6K5pxD6PP
Bank of Canada's Rogers urges shift by banks on mortgage lending -Bloomberg News https://t.co/DG9gbiTSEE https://t.co/eK1xkZl57S
Canadian banks and regulators should take a hard look at mortgages that have allowed some households to run up large amounts of long-term debt, the Bank of Canada’s No. 2 official said https://t.co/Nhebp91aCa
⚠️ BANK OF CANADA'S ROGERS URGES SHIFT BY BANKS ON MORTGAGE LENDING -BLOOMBERG NEWS Full Story → https://t.co/pfB6PT3UvP
Canadian banks and regulators should take a hard look at mortgages that have allowed some households to run up large amounts of long-term debt, the Bank of Canada’s No. 2 official said https://t.co/04WmP9tA9f
Canadian banks and regulators should take a hard look at mortgages that have allowed some households to run up large amounts of long-term debt, the Bank of Canada’s No. 2 official said https://t.co/bc7mUKAFYm
Scotiabank's Canadian banking unit COO Kevin Teslyk latest to depart https://t.co/xcff1obtkf https://t.co/val4XbAylG
Scotiabank's Canadian banking unit COO Kevin Teslyk latest to depart https://t.co/uApzL9OFzc https://t.co/E5bOYVFL2L
Scotiabank's Canadian banking unit COO Kevin Teslyk latest to depart https://t.co/SrVau7CFaL https://t.co/XzpPNfP4VN
⚠️ SCOTIABANK'S CANADIAN BANKING UNIT COO KEVIN TESLYK LATEST TO DEPART Full Story → https://t.co/74GfYjfltY https://t.co/UHxm3HAaVJ
Scotiabank appoints Bogdaneris as head of Canadian banking unit https://t.co/e98XL0Kbfa https://t.co/m5vcCVIGEs
Scotiabank appoints Bogdaneris as head of Canadian banking unit https://t.co/xGXfh9IkuH https://t.co/y0zEcTVpwR
Bank of Nova Scotia’s Dan Rees, who runs the domestic retail banking business, is leaving along with investment banking chief James Neate and Chief Technology Officer Shawn Rose https://t.co/Rrs3OZS40K
Scotiabank appoints Bogdaneris as head of Canadian banking unit https://t.co/eGoQLArNm8 https://t.co/5LYoIpibDG
"Bank lending will shrink significantly over the coming quarters." - Torsten Sløk https://t.co/k3XvInp1go
$900 billion in Canadian mortgages will renew from 2024 through 2026, per Bloomberg: https://t.co/WGxuBks0cm
With 60% of Canadian mortgages set to come up for renewal within the next three years, homeowners are facing a “payment shock” unless interest rates come down in a significant way, according to Royal Bank of Canada.