Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Mortgage renewal calculator Sep 26th
When it’s time to renew your mortgage, you can either stay with your current lender or shop around for a new one that offers a lower interest rate or different terms. Using a mortgage renewal calculator can help you compare mortgage offers and pick the best one available at the time of renewa.... More »
Canadians Not Deterred By Homeownership Obstacles Sep 6th
Those dreaming of homeownership face a long list of obstacles: high prices, low supply and ever-changing mortgage rules and qualification requirements, to name a few. But that hasn’t shaken Canadians’ desire to have a place to call their own, according to the latest consumer survey from .... More »
What’s moving Canada’s mortgage market this week Aug 5th
A few notable data points this week could offer fresh insight into housing activity and the broader economy..... More »
A Pre-Approval Does Not Guarantee a Mortgage Approval + MORE Apr 28th
Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms a.... More »
The Sea Change in Canadian Mortgage Insurance + MORE Dec 2nd
Few realize how dramatically Canada’s mortgage insurance market has changed..... More »
Meridian Gets Competitive; Posts Lowest Two-Year Fixed Mortgage Rate on the Market
– ratesupermarket.ca
Meridian is making news as of late, as it recently posted the lowest two-year fixed-interest rate in recent Canadian history, compared to the “Big Five” banks and other lenders on the market. As Ontario’s largest credit union, Meridian is offering a two-year fixed mortgage at 1.98 percent.
This competitive rate may be good news for potential home owners in Ontario. Buying a home has become increasingly difficult across the country in recent years, especially in city centres like the Greater Toronto Area and Metro Vancouver, due to rising interest rates and the mortgage stress test cutting into affordability.
“The reality is that it is next to impossible for many young people to get into the housing market in Ontario today,” said Dayna Whitney, Associate Vice President, Retail, Meridian, in a press release. “We believe this is an extremely competitive rate and it represents an exceptional opportunity to save – particularly for first-time homebuyers.”
The new rate is available to Ontarians who are:
looking to own a primary property up to a maximum purchase price of $1 million with an outstanding mortgage balance (after down payment) of $799,000 or less…
Home Sales Fall Sharply From January
– canadianmortgagetrends.com
The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also dropped sharply last January when the mortgage stress test came into […]
