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 accordance with 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 may 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 suitable 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 plenty of felt unprepared to make knowledgeable monetary selections. Many additionally expressed uncertainty about credit score, banking, and entry monetary assist for long-term targets like homeownership or beginning a enterprise.
These findings level to a rising want for clear, trusted monetary steerage. For mortgage professionals, it’s an opportunity to assist bridge that hole by offering recommendation in plain language, serving to shoppers perceive how credit score works in Canada, and constructing belief by schooling and assist.
“Newcomers carry 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 schooling and assist that may make a long-lasting distinction in somebody’s monetary journey in Canada.”
TD notes that supporting newcomers just isn’t a job for banks alone. “We imagine that there’s a chance for the monetary trade and company Canada at giant to assist arrange new and established newcomers for fulfillment,” 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 shoppers who’re nonetheless studying the Canadian monetary system.
Newcomers seeking 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 internet revenue, sees stress on underwriting and funding yield
Sagen MI Canada reported internet revenue 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 consequence of a decrease internet insurance coverage service outcome and decreased funding revenue.
The web insurance coverage service outcome—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 aspect, complete revenue slipped as a consequence of weaker market returns and extra modest good points throughout fixed-income and spinoff holdings.
Regardless of the year-over-year decline in profitability, Sagen’s capital place remained robust. As of the top of Q2, the corporate reported a MICAT ratio of 184%, effectively above each its inner goal of 157% and OSFI’s supervisory minimal of 150%. Invested property totalled roughly $6.3 billion, with a portfolio period 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 trade by management, mentorship and repair.
This yr’s inductees might 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 Might
The variety of Canadian mortgages in arrears remained steady in Might, reaching 11,058 loans, or 0.22% of all residential mortgages, in accordance with the newest figures from the Canadian Bankers Affiliation.
Saskatchewan continues to publish the very best arrears fee 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 under or close to the nationwide stage.
Whereas the variety of arrears edged barely greater month over month, ranges stay traditionally low and much under the present 1.52% mortgage arrears fee 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 Sport-Changer Prize, recognizing progressive tasks aimed toward accelerating housing building throughout the nation.
The highest honour went to Promise Robotics, which is creating 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 tasks centered on financing, ecosystem improvement, and sustainable supplies.
The Sport-Changer Prize is a part of CMHC’s $300-million Housing Provide Problem, launched to search out and fund inventive options to boundaries in housing manufacturing. Thus far, the federal authorities says it has dedicated over $65 billion towards housing outcomes as a part of its Nationwide Housing Technique.
Subsequent Steps: Mortgage trade profession strikes
“Subsequent Steps” is a characteristic in our Mortgage Digests that highlights notable job modifications and profession developments throughout the mortgage trade. When you have a job replace to share, we welcome your submissions to maintain the neighborhood within the loop.
Manulife Financial institution appoints Marco Beauregard as Enterprise Growth Supervisor for Quebec dealer channel
Manulife Financial institution has introduced the appointment of Marco Beauregard as Enterprise Growth Supervisor, Dealer Channel, for the Québec area.
With greater than 30 years of expertise within the mortgage trade—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 trade accolades, together with BDM and Accomplice of the Yr awards in each 2022 and 2023, underscoring the robust and lasting relationships he has constructed with companions, shoppers, and colleagues.
Marco has additionally performed a pivotal function 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 trade development.
Recognized for his integrity, heat, and keenness for the enterprise, Marco brings a collaborative spirit and a client-first mindset to each interplay.
BluRoot names Maryah Diulia as Gross sales & Advertising and marketing Supervisor
BluRoot has promoted Maryah Diulia to Gross sales & Advertising and marketing Supervisor, recognizing her contributions since becoming a member of the crew in December 2021.
In her expanded function, Diulia will proceed main gross sales conversations, shaping advertising technique, and dealing intently with shoppers and companions to drive progress.
She credit the BluRoot crew 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 Growth Supervisor, the place he grew to become identified for his robust dealer relationships and solution-focused method. In his new management function, he continues to empower mortgage brokers with the instruments and merchandise to assist their shoppers succeed.
Qureshi brings almost 20 years of expertise within the mortgage trade, together with earlier roles at Residence 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 Govt 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 powerful monitor report in monetary regulation, public service, and collaborative management.
In her new function, Leung will oversee market conduct throughout FSRA’s regulated sectors, serving to advance consumer-focused regulation and FSRA’s modernization efforts.
EconoScope:
Upcoming key financial releases to observe
The most recent headlines
Mortgage penalties defined, and the way good timing can save your shoppers hundreds
Financial institution of Canada leaves charges unchanged however flags potential case for future cuts
Financial softness continues as Canada posts second month-to-month GDP decline
Fastened-rate debtors resist 20% fee hikes at renewal, BoC warns
Canada’s housing hunch anticipated to increase into 2026 with out U.S. commerce deal, Oxford warns
Birch Hill and Brookfield to accumulate First Nationwide in $2.9B deal
Seniors hardly ever downsize — right here’s why that’s hurting first-time homebuyers
Visited 147 occasions, 147 go to(s) in the present day
Antoinette Leung canadian bankers affiliation CMHC EconoScope Monetary Companies Regulatory Authority monetary stress fsra newest mortgage information Lauren van den Berg Marco Beauregard Maryah Diulia mortgage arrears Mortgage digest Mortgage Corridor of Fame mortgage information mortgage professionals canada subsequent steps Rizwan Qureshi Sagen Canada td survey
Final modified: August 1, 2025
