Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Watch: What Is the First-Time Home Buyer Incentive? + MORE Apr 7th
In 2019, the federal government introduced the First-Time Home Buyer Incentive, a program designed to make homeownership more affordable. But how does it work? Who’s it for? And is it always a good option for buyers?
Through the First-Time Home Buyer Incentive, the government contributes to a .... More »
The $90-million lesson: Why relationships, not tech, drive mortgage success + MORE Mar 19th
A lender friend of mine, Shane Lapointe, retired last week and I could not be happier for him. Forty-nine years in the industry, 36 of them in the brokering space. I can only imagine the rule changes and lender switch-ups that he has seen since 1989. .... More »
National Bank says its consumers remain “resilient” with $1 billion worth of excess liquidity Oct 2nd
National Bank reports that its mortgage clients have been resilient in the face of sharply higher interest rates, thanks in part to high levels of liquidity..... More »
Could a line of credit impact my mortgage application? Nov 16th
Prospective house hunters and those looking to refinance an existing mortgage should consider the impacts of their lines of credit on their mortgage application. That’s because lenders take non-mortgage debt, including line of credit payments, into account when determining how much you can afford .... More »
Metro Vancouver home sales jump 32% in October amid lower mortgage rates + MORE Nov 6th
Higher inventory provides more options for buyers as demand picks up, fuelled by recent Bank of Canada rate cuts..... More »
RBC hikes some fixed mortgage rates as bond yields spike
– theglobeandmail.com
Starting November 17, a new RBC five-year mortgage with an amortization period of 25 years or less will cost 2.94 per cent, up from 2.64 per cent. The bank also increased its three-year and four-year rates for these mortgages to 2.69 per cent and 2.79 per cent, respectively
The Royal Bank of Canada has raised some of its mortgage rates, the second bank to do so this month, and the changes announced Tuesday will make paying down the mortgage even more expensive for people who choose to take 25 years or longer to do so.
Royal Bank hikes mortgage rates – CBC.ca
– news.google.ca
CBC.caRoyal Bank hikes mortgage ratesCBC.caThe Royal Bank of Canada has raised some of its mortgage rates, and the changes are going to make paying down the mortgage even more expensive for people who choose to take 25 years or longer to do so. Royal announced the changes in a news …RBC hikes some fixed mortgage rates as bond yields spikeThe Globe and MailA Royal Bank of Canada sign is pictured in downtown Toronto on Dec. 2, 2011. (Nathan Denette / THE CANADIAN …CTV NewsRoyal Bank raises its discounted mortgage rates across the boardFinancial PostEdmonton Journal -Bankrate.com -Highlight Press -This is Moneyall 15 news articles »
RBC hikes fixed mortgage rates as of Thursday
– moneysense.ca
TORONTO – Royal Bank (TSX:RY) is hiking mortgage rates and making it more expensive for homebuyers who want to take more than 25 years to pay back their loan.
The bank is raising its special offer for a five-year fixed rate mortgage to 2.94 per cent, an increase of 30 basis points.
The lender is also raising its special offer for a four-year fixed rate mortgage to 2.79 per cent and three-year fixed rate mortgage to 2.69 per cent, increases of 30 and 25 basis points, respectively.
The company is also introducing new rates for homebuyers who opt for an amortization period longer than 25 years.
The special offer rates for three, four and five-year fixed rate mortgages are 10 basis points higher than for those with an amortization of 25 years or less.
The changes take effect Thursday.
Royal Bank said it takes a number of factors into account when making changes to mortgage rates, including funding costs and market conditions.
“Based on current conditions, our rates reflect the right balance between our clients’ expectations and our costs of funding mortgages,” Mary Ellen Brown, Royal Bank’s senior vice-president of home equity financing, said in a statement…
The bank is raising its special offer for a five-year fixed rate mortgage to 2.94 per cent, an increase of 30 basis points.
The lender is also raising its special offer for a four-year fixed rate mortgage to 2.79 per cent and three-year fixed rate mortgage to 2.69 per cent, increases of 30 and 25 basis points, respectively.
The company is also introducing new rates for homebuyers who opt for an amortization period longer than 25 years.
The special offer rates for three, four and five-year fixed rate mortgages are 10 basis points higher than for those with an amortization of 25 years or less.
The changes take effect Thursday.
Royal Bank said it takes a number of factors into account when making changes to mortgage rates, including funding costs and market conditions.
“Based on current conditions, our rates reflect the right balance between our clients’ expectations and our costs of funding mortgages,” Mary Ellen Brown, Royal Bank’s senior vice-president of home equity financing, said in a statement…
The New Mortgage Rules: One Month Later
– ratesupermarket.ca
November 17th marks the one-month anniversary since some of the new mortgage rules came into effect. These rules were introduced mainly as a way to slow down the red-hot real estate markets in Toronto and Vancouver. Both cities have seen double digit price appreciation year over year in recent months.
Vancouver has seen its fair share of new rules to slow down the real estate market. First, a 15 per cent foreign buyer’s tax was introduced. Now, there’s discussion about implementing a one per cent tax on empty homes. Sales have slowed somewhat in recent months, but prices have yet to come down. That’s a different story from Toronto, which in October saw home prices jump a whopping 21 per cent year over year.
Although the new mortgage rules were designed to orchestrate a “soft landing,” they’ve been criticized for hitting first-time homebuyers where it hurts: their purchasing power. Homebuyers qualify for about 20 per cent less of a home under the changes. This makes it especially tough for those looking to buy in pricey real estate markets…
