Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The Latest in Mortgage News: Bond yields soar higher, fixed mortgage rates expected to follow Jun 15th
Bond yields surged to a fresh 14-year high this week, driving expectations that fixed rates are likely to continue rising..... More »
2024 housing market and interest rate forecasts + MORE Dec 28th
2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there's optimism that 2024 will be the year of rate relief..... More »
NBC says rising rates will lead to mortgage market “normalization” + MORE Aug 30th
National Bank of Canada, the smallest of the Big 6 banks, reported third-quarter earnings in-line with market expectations..... More »
The latest in mortgage news: Government unveils details of its foreign buyer ban Dec 25th
The government unveiled details of its foreign buyer ban on residential properties earlier this week, just days before the rules are set to take effect..... More »
RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026 Dec 4th
Despite interest rates having been elevated for over a year, Canada's largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years..... More »
Surprise, Surprise: No Rate Hike From Bank of Canada
– canadamortgagenews.ca
For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret ever buying a home.
It’s December. None of that has happened.
Two days ago, the Bank of Canada met for the last time in 2021 and decided to maintain their benchmark rate. All of the noise you’ve been hearing about the risk of homeownership and inviability of variable rate mortgages ended up being exactly that: noise. So many trusted voices predicted a reckoning by the end of 2021. And yet, 2021 is almost over. Zero of the eight annual Bank of Canada meetings resulted in a rate increase.
To be clear, I’m not saying that rates will remain as is for the next two years. Inflation will continue to rise and the economy will continue to grow. Rates this low can’t stay this low forever…
