Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Mortgage approvals in hours, not days: TD leaning on AI to regain edge Oct 1st
At its 2025 Investor Day, the bank outlined plans to use AI to cut turnaround times, reshape branches into advice hubs and deliver billions in efficiency savings..... More »
Real estate may not be sexy, but… Jan 26th
Rental properties are a secure long-term investment. Note the emphasis on “long-term”.
Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost alway.... More »
The Latest in Mortgage News – Economic Growth & Housing Affordability Dec 3rd
The latest data released over the past couple of weeks are helping to provide a reading on how different jurisdictions in the country are faring when it comes to economic growth and housing affordability. The Conference Board of Canada’s latest Metropolitan Outlook, for example, breaks down re.... More »
BMO reinstates OSFI’s stress test for uninsured mortgage switches + MORE Dec 21st
The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers..... More »
Canadian home sales hit “speed bump” in July, despite rate cuts Aug 17th
Falling mortgage rates haven't yet had a a significant impact on real estate activity, according to recent data..... More »
What is the Difference Between Fixed and Variable Rate Loans?
– ratesupermarket.ca
It’s no secret that acquiring debt can cause grief and anxiety. But whether it’s for an unplanned financial emergency, an upcoming renovation or a needed major purchase, there are some situations when taking out a personal loan makes sense.
A personal loan can be easier to apply for in comparison to other types of financing such as credit cards, or a personal line of credit from your bank. There are also no restrictions in how you spend a personal loan.
However, borrowing money from a lender or bank means you’re legally committed to paying the money back within a certain time frame. So when applying, simply guessing if your budget can afford the timely payments is a bad idea.
First, you need to understand how interest rates will affect your payments, and you basically have two ways to go — fixed rates or variable rates.
Fixed-rate loan – the “set it and forget it” choice
With a fixed-rate loan, the loan rate and payment you make each month will stay constant for the term of your loan, no matter how much the market fluctuates…
Canadian mortgage borrowing over the first three months of 2018 fell by $2 billion to $13.7 billion — the lowest level since 2014 — following the introduction of new lending rules and a rise in interest rates.
