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.
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In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are .... More »
Tapping into Lower Interest Rates: Does Renewing Your Mortgage Early Save You Money? Jul 22nd
Late last year, many had forecasted that the Bank of Canada might cut interest rates in 2020. However, no one could have foreseen just how low-interest rates were about to plummet in the coming months.
Canada’s COVID-19 lockdown led to a sharp rise in unemployment, causing the Bank of Canada to s.... More »
Latest in Mortgage News: Toronto and Vancouver Home Sales Surge in September Oct 8th
The fall was supposed to herald in a period of more subdued housing activity and home price growth. But preliminary September data for the Greater Toronto and Vancouver areas tells a very different story. In the GTA, home sales reached a new record of 11,083, representing a 42.3% gain compared to Se.... More »
A Pre-Approval Does Not Guarantee a Mortgage Approval + MORE Apr 28th
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Important week for mortgage rates could cost or save you thousands.
– canadamortgagenews.ca
Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a greater than average number of real estate transactions. We also saw consumers taking advantage of these low rates by refinancing their mortgages early.
The Five-Year Government of Canada bond yields have been going up and down like a yo-yo over the last three months, with a low point being 1.13% and a high of 1.58% just this past week. This uncertainty/volatility forced financial institutions to raise their interest rate by about .2% to .3%. Having said that, interest rates are still very low. In my discussions with the major lenders, they are all telling me that it’s busier than usual for home purchases and refinance purposes.
The longer-term forecast is still for rates to come down in 2020 and 2021. Historically, October has been a volatile month for stock markets, with many of the biggest drops occurring in October…
The Five-Year Government of Canada bond yields have been going up and down like a yo-yo over the last three months, with a low point being 1.13% and a high of 1.58% just this past week. This uncertainty/volatility forced financial institutions to raise their interest rate by about .2% to .3%. Having said that, interest rates are still very low. In my discussions with the major lenders, they are all telling me that it’s busier than usual for home purchases and refinance purposes.
The longer-term forecast is still for rates to come down in 2020 and 2021. Historically, October has been a volatile month for stock markets, with many of the biggest drops occurring in October…
