{"id":102,"date":"2020-05-23T22:45:23","date_gmt":"2020-05-24T05:45:23","guid":{"rendered":"https:\/\/wiibid.com\/?p=102"},"modified":"2021-03-25T11:51:51","modified_gmt":"2021-03-25T18:51:51","slug":"why-non-bank-mortgage-lending-has-exploded-in-growth","status":"publish","type":"post","link":"https:\/\/wiibid.com\/?p=102","title":{"rendered":"The Explosion Of Alternative Mortgage Lending Sources"},"content":{"rendered":"<section class=\"kc-elm kc-css-628564 kc_row\"><div class=\"kc-row-container  kc-container\"><div class=\"kc-wrap-columns\"><div class=\"kc-elm kc-css-480725 kc_col-sm-12 kc_column kc_col-sm-12\"><div class=\"kc-col-container\"><div class=\"kc-elm kc_text_block\"><\/p>\n<p>The value of Canada\u2019s non-bank residential mortgages skyrocketed by more than 10 times in the period 2007-2018, according to\u00a0<a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/200120\/dq200120b-eng.htm?utm_source=princegeorgematters.com&amp;utm_campaign=princegeorgematters.com&amp;utm_medium=referral\" target=\"_blank\" rel=\"noreferrer noopener\">Statistics Canada data<\/a>\u00a0released last week \u2014\u00a0a much more rapid increase than residential property values.<\/p>\n<\/p>\n<p>The data suggest that more and more residential mortgage consumers have been turning away from the big banks and credit unions to take up the options offered by alternative lenders.<\/p>\n<\/p>\n<p>Statistics Canada found that the value of all non-bank mortgage loans ballooned by 924.2 per cent in the 11-year period of the study. In that same period, the composite benchmark home price in Canada increased 81.8 per cent from $337,900 in January 2007 to $614,400 in December 2018, according to the Canadian Real Estate Association.<\/p>\n<\/p>\n<p>Non-bank mortgage lending can largely be split into two &#8230;<\/p>\n<\/p>\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" target=\"_blank\" rel=\"https:\/\/www.princegeorgematters.com\/local-news\/why-non-bank-mortgage-lending-has-exploded-in-growth-2054559 noopener noreferrer\">Read more on princegeorge matters<\/a><\/div>\n<\/p>\n<p>\n<\/div><\/div><\/div><\/div><\/div><\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":7,"featured_media":4068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7,6],"class_list":["post-102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-news","tag-canadian-real-estate","tag-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Non-Bank Mortgage Lending Explosion |\u00a0WiiBid<\/title>\n<meta name=\"description\" content=\"More and more consumers turn away from big bank and institutional lenders in favour of alternative mortgage lenders due to stiffer regulations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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