Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes Apr 13th
The COVID-19 pandemic has swept many Canadians into unanticipated financial uncertainty. Mass temporary layoffs and job losses have left hundreds of thousands of people wondering how they are going to pay their rent and credit card bills in the coming months.
While the federal government is taking .... More »
Solving Canada's National Housing Crisis Begins At Home + MORE Oct 4th
Canada has recently been held up as a shining example of a progressive nation. Just while countries across the Atlantic and south of the border appear to be adopting a more closed door attitude, Canada is forging ahead with inclusive policy and getting recognition for doing what's right.
This po.... More »
Hacks to Slash Your Mortgage and Clear Your Debt Early + MORE Aug 16th
Finding you the best financial practices is what gets us up in the morning. And our staff is a great resource for these ideas. So we polled the staff in our office to ask one simple question: What mortgage hacks do you use to speed up your mortgage payments?
Here are their best tips for getting o.... More »
OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches + MORE Oct 23rd
Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week..... More »
You bought a home—should life insurance be next? + MORE May 9th
Buying a home is one of the biggest financial milestones for young Canadians, and one of the riskiest. For many households, a mortgage becomes the single largest expense they’ll ever take on, often requiring two incomes to keep it manageable.
That reality is driving more homeowners to buy life .... More »
Mortgages Spotlight: August 16,2013
– ratesupermarket.ca
Mortgage Rates To Climb For At Least Two More Years
We’ve witnessed a steady upwards trajectory among fixed mortgage rates over the past few months – but what’s in store for the recent years to come? According to the Q3 2013 Housing Market Outlook released this week by the Canadian Mortgage and Housing Corporation, the average posted five-year fixed rate could jump by over 80 basis points by 2014.
The crown mortgage insurance corporation indicates a short term increase to a range of 5 – 5.50 per cent this year, and up to 5.25 to 6 per cent the next. Keep in mind though, that these are posted rates; currently, the highest on our best rates table sit at 5.14, while the lowest discounted rates can still be had in the 2.99 – 3.20 per cent range.
These increases are due to persistently high bond yields (government of Canada five-year bonds closed at a two-year high of 1.94 per cent this week!) and the challenges lenders face as a result of new limitations on their mortgage funding methods…
One-on-One With Timbercreek's Andrew Jones
– canadianmortgagetrends.com
Mortgage investment corporations (MICs) lend to borrowers that banks generally don’t touch. For that additional risk, they charge higher interest rates. Those above-average rates, in turn, help MIC investors earn…
CIBC Mortgages – 4 year Variable Opened : 3.29% (-1.1%)
– ratesupermarket.ca
CIBC Mortgages 4 year Variable Opened mortgage rate was changed on July 26, 2013
President's Choice Fin'l – 6 year Closed : 3.94% (0.05%)
– ratesupermarket.ca
President’s Choice Fin’l 6 year Closed mortgage rate was changed on July 29, 2013
Bank of Nova Scotia – 2 year Closed : 2.79% (-0.1%)
– ratesupermarket.ca
Bank of Nova Scotia 2 year Closed mortgage rate was changed on August 01, 2013
