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CMHC reports annual pace of housing starts in April up from March May 18th
B.C. home sales struggle in May as mortgage rates rise and labour market stays weak + MORE Jun 14th
Mortgage Digest: Fixed mortgage rates rise as lenders retreat from aggressive pricing
– canadianmortgagetrends.com
RBC hiked its fixed mortgage rates for the second time in May last week, but it wasn’t the only one. A growing number of lenders have continued raising pricing in recent weeks, particularly for uninsured terms.The central bank opted to keep its overnight lending rate—which is used by lenders to set their prime rate and, by extension, variable mortgage rates—at 2.75%.
This is the BoC’s second consecutive rate hold, following a rate pause on Apr. 16. Prior to that, the BoC had steadily decreased its rate via a series of seven rate cuts between June 2024 and March 2025. Altogether, those decreases lowered its overnight rate by 225 basis points, from a previous high of 5% to the 2.75% we have today.
As a result, the prime rate used by Canadian lenders will also remain unchanged, at 4.95%.
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How to grow your reverse mortgage business by partnering with realtors
– canadianmortgagetrends.com
Bring flexible financing solutions to the table to help realtors close more deals.Most homeowners plan to cut spending as mortgage payments rise: TD survey
– canadianmortgagetrends.com
As mortgage renewals approach, many Canadian homeowners are gearing up for a financial adjustment, and in some cases, a lifestyle change as well.
