Greater than three-quarters of newcomers to Canada fear about making monetary errors, and over half say they struggled to handle their funds after arriving.
That’s in response to a brand new TD survey, which highlights the uncertainty many face when navigating a brand new monetary system.
“Constructing a life in a brand new nation could be each thrilling and overwhelming,” mentioned Janice Farrell Jones, senior vice-president of On a regular basis Banking, Financial savings and Investing at TD. “Newcomers face the stress of adapting to a brand new lifestyle in Canada, whereas shortly getting on the precise foot financially — from understanding banking services and products, to budgeting for dwelling prices and future targets, whereas sustaining monetary ties to household dwelling overseas.”
The place brokers could make a distinction
The analysis discovered that one in three newcomers had little to no understanding of how Canada’s banking system works. Half reported restricted data about investing, and lots of felt unprepared to make knowledgeable monetary selections. Many additionally expressed uncertainty about credit score, banking, and methods to entry monetary help for long-term targets like homeownership or beginning a enterprise.
These findings level to a rising want for clear, trusted monetary steering. For mortgage professionals, it’s an opportunity to assist bridge that hole by offering recommendation in plain language, serving to purchasers perceive how credit score works in Canada, and constructing belief by training and help.
“Newcomers convey unbelievable drive and ambition, however many are navigating a monetary system they’re nonetheless studying to grasp,” mentioned Lauren van den Berg, president and CEO of Mortgage Professionals Canada. “It is a actual alternative for mortgage professionals to step up as trusted guides, providing not simply merchandise, however training and help that may make a long-lasting distinction in somebody’s monetary journey in Canada.”
TD notes that supporting newcomers isn’t a process for banks alone. “We imagine that there’s a possibility for the monetary business and company Canada at giant to assist arrange new and established newcomers for achievement,” Jones mentioned.
van den Berg says mortgage professionals are well-positioned to play a component in that effort by providing knowledgeable, accessible recommendation tailor-made to purchasers who’re nonetheless studying the Canadian monetary system.
Newcomers trying to join with a licensed mortgage dealer can go to MPC’s FindMeABroker.ca device, which helps match customers with professionals of their space.
Sagen posts $111M Q2 web earnings, sees stress on underwriting and funding yield
Sagen MI Canada reported web earnings of $111 million within the second quarter of 2025, down from $151 million in the identical quarter final yr. The corporate mentioned the decline was as a result of a decrease web insurance coverage service end result and decreased funding earnings.
The web insurance coverage service end result—a key measure of underwriting profitability—fell to $102 million, in comparison with roughly $143 million a yr earlier. That decline mirrored elevated finance bills and better working prices. On the funding facet, whole earnings slipped as a result of weaker market returns and extra modest positive factors throughout fixed-income and by-product holdings.
Regardless of the year-over-year decline in profitability, Sagen’s capital place remained sturdy. As of the tip of Q2, the corporate reported a MICAT ratio of 184%, nicely above each its inside goal of 157% and OSFI’s supervisory minimal of 150%. Invested property totalled roughly $6.3 billion, with a portfolio length of three.2 years.
Deadline approaching for MPC’s 2025 Mortgage Corridor of Fame nominations
Mortgage Professionals Canada is accepting nominations for its 2025 Canadian Mortgage Corridor of Fame, with the submission deadline set for Friday, Aug. 15.
The annual recognition honours people who’ve made a long-lasting contribution to the business by management, mentorship and repair.
This yr’s inductees can be acknowledged on Monday, Oct. 20 throughout MPC’s Nationwide Mortgage Convention in Ottawa. Nomination standards and submission particulars are accessible right here.
Mortgage arrears maintain regular in Could
The variety of Canadian mortgages in arrears remained steady in Could, reaching 11,058 loans, or 0.22% of all residential mortgages, in response to the newest figures from the Canadian Bankers Affiliation.
Saskatchewan continues to put up the best arrears price within the nation at 0.53%, adopted by Manitoba at 0.33%, and Atlantic Canada at 0.27%. Alberta additionally sits simply above the nationwide common at 0.26%.
In the meantime, Quebec (0.18%), British Columbia (0.20%), and Ontario (0.21%) stay beneath or close to the nationwide stage.
Whereas the variety of arrears edged barely greater month over month, ranges stay traditionally low and much beneath the present 1.52% mortgage arrears price within the U.S.
4 winners awarded $15M in CMHC’s Housing Provide Problem
Canada Mortgage and Housing Company has awarded $15 million to 4 recipients of the Housing Provide Problem Recreation-Changer Prize, recognizing modern initiatives aimed toward accelerating housing development throughout the nation.
The highest honour went to Promise Robotics, which is growing a “robotic manufacturing facility as-a-service” platform to scale industrialized homebuilding. Three silver recipients have been additionally awarded funding: Tapestry Group Capital, Mddl, and One Bowl, for initiatives centered on financing, ecosystem improvement, and sustainable supplies.
The Recreation-Changer Prize is a part of CMHC’s $300-million Housing Provide Problem, launched to search out and fund artistic options to boundaries in housing manufacturing. To this point, the federal authorities says it has dedicated over $65 billion towards housing outcomes as a part of its Nationwide Housing Technique.
Subsequent Steps: Mortgage business profession strikes
“Subsequent Steps” is a function in our Mortgage Digests that highlights notable job adjustments and profession developments inside the mortgage business. When you have a job replace to share, we welcome your submissions to maintain the group within the loop.
Manulife Financial institution appoints Marco Beauregard as Enterprise Improvement Supervisor for Quebec dealer channel
Manulife Financial institution has introduced the appointment of Marco Beauregard as Enterprise Improvement Supervisor, Dealer Channel, for the Québec area.
With greater than 30 years of expertise within the mortgage business—together with 18 years at FNF Canada, Marco is widely known for his deep experience, professionalism, and dedication to delivering outcomes. His contributions have earned him a number of business accolades, together with BDM and Companion of the Yr awards in each 2022 and 2023, underscoring the sturdy and lasting relationships he has constructed with companions, purchasers, and colleagues.
Marco has additionally performed a pivotal position in shaping the mortgage panorama by his 17 years of service on the Board of Administrators of the Affiliation of Mortgage Companions (APH), the place he continues to advocate for finest practices and business development.
Recognized for his integrity, heat, and fervour for the enterprise, Marco brings a collaborative spirit and a client-first mindset to each interplay.
BluRoot names Maryah Diulia as Gross sales & Advertising Supervisor
BluRoot has promoted Maryah Diulia to Gross sales & Advertising Supervisor, recognizing her contributions since becoming a member of the workforce in December 2021.
In her expanded position, Diulia will proceed main gross sales conversations, shaping advertising technique, and dealing carefully with purchasers and companions to drive development.
She credit the BluRoot workforce for encouraging her improvement and supporting her management journey.
EQ Financial institution promotes Rizwan Qureshi to Regional Director of Gross sales
Rizwan Qureshi has been appointed Regional Director of Gross sales at EQ Financial institution, constructing on greater than a decade of service with the lender.
Qureshi started his profession at EQ as an underwriter earlier than rising to Enterprise Improvement Supervisor, the place he turned identified for his sturdy dealer relationships and solution-focused strategy. In his new management position, he continues to empower mortgage brokers with the instruments and merchandise to assist their purchasers succeed.
Qureshi brings almost twenty years of expertise within the mortgage business, together with earlier roles at House Belief, CIBC, AGF, and PC Monetary.
FSRA appoints Antoinette Leung as EVP, Market Conduct
The Monetary Companies Regulatory Authority of Ontario (FSRA) has named Antoinette Leung as Government Vice President, Market Conduct, efficient August 1, 2025.
Leung has spent greater than 5 years main FSRA’s Monetary Establishments and Mortgage Dealer Conduct division, the place she’s been instrumental in modernizing regulatory oversight. She brings a robust monitor document in monetary regulation, public service, and collaborative management.
In her new position, Leung will oversee market conduct throughout FSRA’s regulated sectors, serving to advance consumer-focused regulation and FSRA’s modernization efforts.
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Final modified: August 1, 2025
