Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Reverse mortgages are booming amid Canada’s turbulent rate environment + MORE Jan 31st
High rates haven't stopped Canadians from tapping their home equity by way of reverse mortgages..... More »
Latest in Mortgage News: June Data Indicates a Housing Rebound. But Will it Last? + MORE Jul 13th
Home prices, sales and new starts are all rebounding, according to the latest June data. But some, including the Canada Mortgage and Housing Corporation (CMHC), say risks remain. This week, a slew of housing data was released from local real estate boards and the CMHC showing overall improvements in.... More »
Mortgage or retirement savings? Where to get the most bang for your extra bucks + MORE May 4th
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.
Mortgage or retirement savings? Where to get the most bang for your extra bucks - thestar.comContinue Reading On thestar.com »
The L.... More »
Renewing your mortgage but planning to sell soon? Read this first May 12th
Why flexibility and penalties can matter more than rates if you plan to sell within the next 12 months.... More »
Bond Yields Surge, Mortgage Rates Rising in Response + MORE Feb 24th
Canadian bond yields hit their highest level since April in recent days, and a number of lenders have responded by starting to raise some of their mortgage rates. CMLS, MCAP and First National were among the non-bank lenders to increase at least some of their rates, with their broker rates rising 10.... More »
Why didn’t the Bank of Canada Gov cut rates last week?
– canadamortgagenews.ca
WAS THIS A BIG MISTAKE?
Last week, Stephen Poloz, the Bank of Canada Governor, kept the Prime Rate as is during the 6th of their eight scheduled meetings for 2019. The Current Target rate is 1.75%. (Bank Prime rate is derived from this rate. Today’s Bank Prime rate is 3.95%. Over 99% of time, when the Target Rate is cut, the Banks will reduce the Bank Prime Rate by an equal amount).
This was a very calculated decision that has politics written all over it. While the rest of the world banks have been cutting rates to combat a looming recession due to growing global trade wars and slowing global economies, our Government did nothing. Apparently, the Canadian economy is ‘resilient’. The next Bank of Canada meeting is set for October 30, 2019. Oh, and there’s a Federal election on Oct 21, 2019. Yeah, this has politics written all over it.
WHAT YOU SHOULD KNOW ABOUT MORTGAGE RATES TODAY.
Here’s a quick lesson on how mortgage rates are usually priced…
Lender Calls – Q2 Roundup
– canadianmortgagetrends.com
The second quarter proved a good one for the country’s key broker channel lenders. Mortgage originations were mostly up across the board. One notable exception was Street Capital’s Street Solutions product, which targets the uninsured segment of the mortgage market. It saw a 60% year-over-year decline in originations. Given the pending takeover of Street Capital […]
