Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Where to Buy Real Estate in Canada 2026: Calgary + MORE Apr 30th
When most people think of Calgary, they picture cowboys and oil. They’re not wrong, but they’re about a decade behind. Since 2018, Calgary’s tech sector has grown by 78%.
The city’s food scene spans everything from Ethiopian and Korean spots to farm‑to‑table restaurants,.... More »
Should retirees consider a home equity sharing agreement (HESA)? + MORE Jan 30th
Toronto-based Clay Financial recently began accepting applications for a new home equity product called a home equity sharing agreement, or HESA—not to be confused with the HISA, which stands for high-interest savings account.
Clay raised seed funding in 2023 and is initially launching the prod.... More »
Three-quarters of Equitable Bank’s uninsured mortgages to renew at lower rates this year + MORE Mar 1st
Equitable Bank is optimistic about continued loan growth in 2025, buoyed by expectations that most of its single-family mortgage borrowers will renew at lower rates this year..... More »
Home construction must double over next decade to restore 2019 affordability: CMHC + MORE Jun 20th
Canada Mortgage and Housing Corp. says up to 4.8 million new homes will need to be built over the next decade to restore affordability levels last seen in 2019 based on projected demand..... More »
How mortgage brokers can unlock the power of personal video messages + MORE Apr 1st
It's important to find ways to connect with potential clients and build trust. By recording a video that is tailored to an individual prospect, you can set yourself apart from others and create a memorable experience..... More »
How To Navigate Today’s Economy
– canadamortgagenews.ca
Rumour has it the worst is yet to come. On October 26th, Bank of Canada Governor Tiff Macklem will very likely increase rates by another 0.50%. Not only will this push the bank prime rate up to 5.95% – it could lead to the average 5-year fixed rate mortgage well above 6.00%. What a mess. As I mentioned in my previous article, the BoC made a critical error and the Canadian people are continuing to pay for it.
Luckily, this won’t last forever. Economists and other experts (myself included) predict that there will only be higher rates for 12-24 months. After an inevitable economic downturn, the BoC will start slashing rates to kickstart the economy again.
So what should you do in the meantime? As always, it all depends on your personal situation. But broad strokes, here’s how I think different types of homeowners and borrowers should navigate the current economy.
If your mortgage is up for renewal in the next 4 months:
Get a rate hold. This is a no-brainer whether you’re dealing with variable or fixed rate mortgages in a rising rate environment…
