Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Every mortgage calculator you will ever need + MORE Mar 20th
Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for mortgage payments, property taxes, insurance premiums, utilities and maintenance.
To get a clear picture of how a home purchase impacts your finances, you’ll need to determine how much you ca.... More »
Mortgage Professionals Canada promotes broker expertise in newly launched campaign + MORE Oct 17th
Mortgage Professionals Canada (MPC) has unveiled a new national campaign emphasizing the pivotal role mortgage brokers play in guiding Canadians towards their homeownership dreams..... More »
Mortgage Digest: Bond yields whipsaw, but fixed rates still have room to fall + MORE Apr 12th
Canadian bond yields have swung sharply in recent weeks, adding uncertainty to the outlook for fixed mortgage rates..... 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 »
Making sense of the markets this week: June 23, 2024 + MORE Jun 23rd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
We’re building more houses—and prices are down!
On Monday, the Canada Mortgage and Housing Corporation announce.... More »
Mortgage Rates Rising as Bond Yields Surge
– canadianmortgagetrends.com
A growing number of lenders have been raising interest rates over the past week in response to rising bond yields, including the RBC, BMO and National Bank of Canada.
Canada’s best credit cards for people with bad credit 2021
– moneysense.ca
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. But if you want to improve your credit score, you’ll have to show you can handle credit responsibly—and the only way to do that is (you guessed it) to have a credit card. When used properly, having and using a credit card can actually be a helpful tool to assist in rebuilding bad credit—and, luckily, there’s a whole host of products catered to people with poor credit scores. While these often come with higher interest rates and lower spending limits, they can be a good starting point to re-establishing a respectable credit score, which in turn will help you get approved down the line for loans, a line of credit or even a mortgage.Find your next credit card.What kind of credit card are you looking for? Get matched with the best cards for you in under 2 minutes at ratehub.ca. Let’s get started.I want to earn rewardsI want to pay low interestYou will be leaving MoneySense. Just close the tab to return…
Don’t Fall For Low Fixed Rates
– canadamortgagenews.ca
The fixed rate versus variable rate debate has never been more heated. With fixed rates currently averaging historical lows of roughly 2.25%, a lot of people are left wondering, “why wouldn’t I choose a fixed rate mortgage?” Fair enough – it certainly appears to be a safe bet on the surface. Lock in a low rate. Maintain it for the entirety of your term. Never worry about rates going up.
This belief is fuelled by the big banks spreading hysteria that variable rates are sure to shoot up. Why risk it when you can go with a record low fixed rate? Here’s the truth: The banks are pushing 5-year fixed rate mortgages because they’re more profitable for them. A variable rate mortgage isn’t the gamble it’s made out to be. In fact, it’s by far the more prudent move.
The Truth
The Bank of Canada meets eight times a year to set the prime rate. As you might know, the prime rate is what affects variable rates. The prime rate rarely changes, and when it does, it’s only by 0…
