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Latest News
B2B’s “Business for Self Expanded” Mortgage + MORE Jul 25th
Remember the “good old days” when self-employed borrowers could readily obtain stated income mortgages to 80% loan-to-value? It could take years before those days return to the prime mortgage market, if ever. But a few lenders still offer out-of-the-box solutions for business-for-self (BFS) clie.... More »
To hell with this home market + MORE Oct 13th
(Photo by Lucas Finlay)
Aaron Urion considers himself lucky. Very lucky. He has a great job as an associate at a downtown Vancouver architectural firm and, last summer, he married his sweetheart and sailing partner, Heather Thompson, 36. These days, the couple enjoy their evenings looking out over t.... More »
New Rule Targets HELOC Holders Seeking a Second Mortgage + MORE Nov 9th
The word is out on a little-known policy used to qualify anyone with a HELOC who is applying for additional financing. Several of the Big Six banks have already adopted the policy, which requires applicants to prove they can afford the theoretical monthly HELOC payment based on the limit of that HEL.... More »
Let's Throw a Patent-Burning Party Oct 1st
When a drug goes generic, it’s as if society has paid off a mortgage..... More »
Are we on track to generate $6,500 a month in retirement + MORE Aug 13th
Randy and Sandra Luke
Up until last year, Sandra and Randy Luke were focused on paying off their mortgage. With that goal behind them, they’re ready for their next challenge: to retire in 10 years. But can they save enough to build a portfolio capable of delivering a monthly net income of $6.... More »
Laurentian Bank Canada – 3 year Closed : 3.95% (0.2%)
– ratesupermarket.ca
Laurentian Bank Canada 3 year Closed mortgage rate was changed on August 22, 2013
Spotlight On Mortgages: August 23, 2013
– ratesupermarket.ca
Canadian High Rise Demand Hits New Low
There’s no denying it – a new high rate reality is upon us. This week brings about another fixed rate increase, as RBC hikes both their discounted and posted offerings between 20 and 30 basis points. This means the five-year fixed posted rate is now 5.34 per cent, and the discounted rate sits at 3.89. Canada’s biggest lender is joined by TD, which hiked the their special five-year posted rate to 3.79 and their posted to 5.14, and Laurentian Bank’s 20-point increase to its three, four and five-year offerings to 3.95, 4.74, and 5.34 per cent.
Last week, the CMHC indicated in the Q3 Housing Market Outlook that rates are foreseen to climb for at least two more years, as the market adjusts to recent restrictions made to lender mortgage funding. This was backed by members of our Mortgage Rate Outlook Panel, who indicated that higher rates are indeed on the horizon. “[Restricting] the amount of CMHC guarantees under the NHA MBS program will probably force through an increase in borrowing costs to the banks,” said Dr…
T-D Mortgage – 5 year Closed : 3.79% (0.1%)
– ratesupermarket.ca
T-D Mortgage 5 year Closed mortgage rate was changed on August 22, 2013
Rates Rise Again. No Housing Threat Yet
– canadianmortgagetrends.com
Fixed mortgage rates have been on a steady ascent since bond yields blasted off in May. Now, the major banks are jacking up rates again. Most of the Big 6…
Equitable Bank – 3 year Closed : 3.95% (0.2%)
– ratesupermarket.ca
Equitable Bank 3 year Closed mortgage rate was changed on August 22, 2013
