Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Taking on a “Fraction” of the Cost; Vancouver Start-Up Promises a Better Incentive for Home Buyers than CMHC + MORE Apr 2nd
An incentive for first-time home buyers offered through the Canadian Mortgage Housing Corporation (CMHC) was only announced a week ago, promising to provide $1.25 billion over three years to help lower mortgage costs for eligible Canadians.
However, a new company is now also promising to provide an.... More »
Does it make sense for a young person to have life insurance? + MORE Nov 24th
Buying life insurance in your 20s can feel like an added cost to an already long list of expenses. But experts say it can safeguard loved ones if life doesn’t go as planned.
Do young Canadians need life insurance?
There can be a “very high temporary insurance need” for younger Canadians,.... More »
2018 – Year in Review Jan 2nd
We’re about to turn the page on 2018, and many may feel not a moment too soon. Climbing fixed rates weren’t the only thing making mortgages less accessible in 2018. This was the first full year to measure the impacts of new federal mortgage rules. Provincial policies in B.C. and Ontario also.... More »
B.C. Regulator Shuts Down Unlicensed Broker with $500M in Volume Jun 5th
An unlicensed B.C. mortgage broker accused of arranging half a billion in mortgages for hundreds of clients has been issued a cease-and-desist order by the province’s mortgage regulator. The Financial Institutions Commission of British Columbia (FICOM) announced last week that its Registrar of.... More »
A guide to five-year fixed mortgage rates + MORE Mar 2nd
After consecutive years of record-low interest rates in Canada, many experts predict we are entering a period of rising rates—which would make the cost of borrowing money, be it for a mortgage or a student loan, more expensive. The possibility of these rate hikes can make the stability of a f.... More »
RBC Hikes Discounted and Posted Fixed Mortgage Rates
– ratesupermarket.ca
Royal Bank of Canada is the latest lender to hike its fixed mortgage rates, applying a 20 to 30 basis point increase to a number of its special offer and posted offerings.
Effective Thursday, August 22, RBC’s rates will be as follows:
Discounted rates:
four-year fixed: 3.59 per cent (+20)
five-year fixed: 3.89 (+20)
seven-year fixed: 4.19 (+20)
10-year fixed: 4.59 (+30)
Posted rates:
three-year fixed: 3.95 (+20)
four-year fixed: 4.74 (+20)
five-year fixed: 5.34 (+20)
Why Are Mortgage Rates Going Up?
Mortgage rates have been on an upward trajectory over the summer months, as a tightening government bond market and new CMHC restrictions have shrunk funding options for banks. As a result, the higher costs facing lenders are being passed down to the customer in the form of higher rates.
Bond yields, which indicate the level of investor interest in the Canadian economy, and are directly linked to fixed mortgage rate levels, continue to reach new highs. As of today, five-year bonds are yielding 1…
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Zolo Mortgages Ltd. Position Title: Mortgage Specialist (Guaranteed draw) Years of Experience Required: 1-3 years Licences or Registrations Required: Licensed with FSCO as broker or agent Location of Position:…
Dominon Lending Centres Main Quebec – 10 year Closed : 4.19% (0.2%)
– ratesupermarket.ca
Dominon Lending Centres Main Quebec 10 year Closed mortgage rate was changed on August 16, 2013
Home Trust Company – 4 year Closed : 3.24% (0.15%)
– ratesupermarket.ca
Home Trust Company 4 year Closed mortgage rate was changed on August 19, 2013
