Interested in learning more about property mortgages in Canada? Look no further!
Latest News
The $13 Billion Question: Will Ottawa’s “Build Canada Homes” Fix Our Broken Housing Market, or Just Build More Problems? + MORE Sep 28th
Another week, another blockbuster announcement from Ottawa aimed at solving our national housing crisis. This time, it’s a shiny new federal agency dubbed “Build Canada Homes,” launched with a cool $13 billion of your money. The promise? To slice through the red tape, leverage public lands, an.... More »
“Should we refinance our mortgage?” + MORE Dec 23rd
We’re thinking about breaking our existing home mortgage to take advantage of low interest rates and would appreciate some guidance. This is our scenario:
Mortgage principal: $572,000Weekly payments: $746.00Interest rate: 3.78% fixed and locked in until December 2024Penalty fee for breaking mor.... More »
Canada’s best credit cards for people with bad credit 2021 + MORE Oct 14th
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. But if you want to improve your credit score, you’ll have to show you can handle credit responsibly—and the only way to do that is (you guessed it) to have a credit card. When used properl.... More »
Variable-rate mortgages regain popularity as Morningstar flags rising risks + MORE Feb 1st
Morningstar DBRS says mortgage portfolios should hold up in 2026 despite a soft housing market, while warning that rising variable-rate use and Alt-A exposure are key areas to watch..... More »
2020 – Year in Review + MORE Jan 7th
Now that the page has finally been turned on 2020, we wanted to take a look back at how mortgage rates fared over the course of what was a tumultuous year. It’s safe to say that COVID-19 stole the show in terms of the year’s biggest newsmaker. On the mortgage front, one of the biggest th.... More »
Average 30-year loan rate falls to 3.57 per cent, 3-year low
– canadianbusiness.com
WASHINGTON – Long-term U.S. mortgage rates fell this week for a third straight week, posting new lows for the year. The benchmark 30-year rate reached a three-year low.
The low rates come amid the spring home buying season, luring prospective purchasers.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.57 per cent from 3.61 per cent last week. It’s far below its level a year ago of 3.85 per cent.
The average rate on 15-year fixed-rate mortgages eased to 2.81 per cent from 2.86 per cent last week.
Prices of U.S. government bonds have been at high levels since the Federal Reserve’s recent decision not to increase the benchmark interest rate — which it had raised from record lows in December. Some economists believe the Fed may not raise rates again until the second half of the year.
That means low levels for the bonds’ yields, which move in the opposite direction from their prices and tend to influence mortgage rates.
The yield on the 10-year Treasury bond stood at 1…
The low rates come amid the spring home buying season, luring prospective purchasers.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.57 per cent from 3.61 per cent last week. It’s far below its level a year ago of 3.85 per cent.
The average rate on 15-year fixed-rate mortgages eased to 2.81 per cent from 2.86 per cent last week.
Prices of U.S. government bonds have been at high levels since the Federal Reserve’s recent decision not to increase the benchmark interest rate — which it had raised from record lows in December. Some economists believe the Fed may not raise rates again until the second half of the year.
That means low levels for the bonds’ yields, which move in the opposite direction from their prices and tend to influence mortgage rates.
The yield on the 10-year Treasury bond stood at 1…
Lifting Covered Bond Issuance Limits. It’s Time
– canadianmortgagetrends.com
As we like to say around here, it’s good to be a bank. Reason #188 (or whatever number we’re up to now) is covered bonds. Only seven lenders in Canada can issue covered bonds, and six of them are major banks. Who should care about covered bonds? Any mortgagor with at least 20% down who prefers a lower rate. Covered bonds (CBs) are a low-cost way to raise mortgage capital, which the lender (issuer) can then lend out to borrowers. Essentially, CBs are just packaged up pools of uninsured mortgages that mega-lenders sell off to investors. Investors like CBs because: the READ MORE
The new reason people hate banks
– moneysense.ca
An ongoing trend of the past two years shows that investment-related complaints are decreasing while banking-services gripes have surged, according to the Ombudsman for Banking Services and Investments. Eliminating the backlog of cases amassed after the financial crisis explains the drop in investment beefs. As for the increased sounding off about banking services complaints, mortgage grievances factor large—namely, prepayment penalties and cases where the bank refused portability. Always read your mortgage terms carefully.
Source: OBSI 2015 Annual Report
The post The new reason people hate banks appeared first on MoneySense.
