Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Equitable Bank’s mortgage arrears rate triples amid surge in renewals + MORE Mar 13th
Equitable Bank saw its mortgage arrears rate triple over the past 12 months now that a majority of its clients have renewed at higher interest rates..... More »
Canada's big banks cut credit card interest rates to ease coronavirus impact - CBC.ca + MORE Apr 4th
Canada's big banks cut credit card interest rates to ease coronavirus impact CBC.caBig Six banks cut credit card interest rates to ease COVID-19 impact CanoeCanadian banks pause payments on 10% of mortgages as they field 500,000 requests for deferrals Financial PostI.... More »
5 smart strategies for renewing your mortgage + MORE Mar 25th
Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rat.... More »
CMHC Announcement: 5 Potential Changes For The Mortgage Market + MORE Feb 27th
The Canada Mortgage and Housing Corporation, the Crown corporation that provides mortgage insurance to high-risk home buyers, is to make an announcement tomorrow at 11 a.m. EST.
While the topic du jour has yet to be revealed, the impending statement has set the mortgage industry buzzing – wil.... More »
Planning to use your home equity in retirement + MORE Jun 2nd
How much of your net worth is wrapped up in your home? According to Statistics Canada, the median net worth for senior families in 2023 was $1,109,700. The most common type of asset for Canadians was a family home, with a median value of $500,000.
Since home equity makes up such a significant all.... More »
Spotlight On Mortgages: Will The Rate Wars Start Early This Year?
– ratesupermarket.ca
It’s been a good week for mortgage shoppers seeking a discount – several of the big banks have chopped 10 basis points or more off their most popular fixed rate offerings. RBC led the pack, covertly discounting their five-year fixed rate to 3.69 over the weekend. Scotiabank and BMO soon followed, with TD being the latest lender to jump into the fray.
The banks are finally reacting to lower government of Canada bond yields, which have been sliding since the beginning of the month. This latest round of discounting has narrowed the gap between the larger lenders and discounted rates. For example, the lowest five-year fixed in Ontario currently sits at 3.19 per cent – just 50 basis points under RBC’s offer.
Is It Time To Lock In To Fixed Rate Mortgages?
So, should you jump into the housing market now, or wait for even better deals? While we can’t predict whether rates will slide slower, consider this: yields, which fixed rates are based on, are directly affected by global investor sentiment…
And The Award Goes To…
– ratesupermarket.ca
Announcing the Best of Finance 2013! We are so proud to share this year’s rankings with you, which highlight finance products with the highest value. Read on for the winners in credit cards, mortgages, learning resources and more!
In other news, Canada’s housing market was thrust back into the spotlight this week, as news of lender mortgage rate cuts abounded and the Bank of Canada rolled out its latest interest rate announcement. It has many wondering if this winter is a prime time for jumping into the housing market – be sure to check out our coverage of the announcement below, as well as this week’s Mortgage Spotlight to get caught up.
Canadians To Cash In With Best Of Finance Awards
What credit card earns the greatest rewards? Are all bank accounts built alike? Many Canadians aren’t offered these answers when seeking out the best personal finance products for their needs, despite what they could be saving. To fill this knowledge gap, RateSupermarket.ca has unveiled the 2013 edition of the Best of Finance Awards, a ranking of the very best credit cards, mortgages, bank accounts and more…
