Turn to Vancouver Mortgage Specialist Invis - The Siemens Group for the Latest Bank Data and News
 February 2 2017     Posted by Siemens Group

You can gain an insight on the health of the Canadian economy by looking at banking infrastructure and reviewing how the nation’s leading banks are performing in recent months. One of our roles as Vancouver’s most trusted mortgage specialist  is to review the options offered through the leading banks and how the banks operate within the local and national economy. To help guide you on the performance of the banking system in recent months, our team looks at the latest banking data in this post.

BMO Holds Growing Residential Mortgage Portfolio

The numbers released from BMO’s fourth quarter of 2016 highlight the bank’s increasing involvement within the mortgage sector of the marketplace. Their total Canadian residential mortgage portfolio rose to $103.6 billion in Q4, up from $97 billion in Q4 2015. The organization has continually focused on decreasing their number of uninsured mortgages, and their latest figures show a current uninsured portfolio of 54%, which is down from 57% in Q4 2015.

Royal Bank of Canada Highlight Client Credit Quality

One of the standout pieces of data from RBC’s Q4 2016 figures is their figures on client credit quality. The bank’s average FICO score of 782 for their residential lending portfolio highlights the strength underlying their residential mortgages. However, their number of uninsured mortgage is slightly higher in Q4 2016, at 53%, compared with 52% in Q4 2015. The bank, in their Q4 statements also noted that residential mortgage delinquencies increased in provinces impacted by the oil sector.

Scotiabank Hold Significant Value in Residential Market

Scotiabank has continually increased their exposure within the residential mortgage marketplace in recent years, and the latest data from Q4 2016 showed a residential retail mortgage portfolio valued at $193.3 billion. The company has been taking steps to increase the level of insured mortgages within their portfolio and this is highlighted by the current data, which shows in Q4 57% of mortgages in their residential portfolio were insured compared with 49% in Q4 2015.

TD Bank Hold High HELOC Portfolio

One area of particular value within TD’s figures was their HELOC portfolio. The portfolio rose to $65 billion in Q4 2016, from $61.2 billion a year earlier, highlighting the number of Canadians increasingly using the value of their home to free capital. Working with your local Vancouver mortgage specialist  can help you to understand this option in greater detail.

While analyzing the latest data from Canada’s leading banks, you can see that the residential mortgage marketplace remains exceptionally strong. Understanding the data and what it means for the average Canadian requires assistance from a local Vancouver mortgage specialist. Our team at Invis – The Siemens Group, is available today to answer yourquestions and help you safeguard your financial future while securing your ideal property. Call now at 604-351-7438.