Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Is Rent to Own Housing Ever a Good Idea? Sep 17th
The majority of Canadians are homeowners, and many more want to buy, but not everyone can afford to do so. If you’re one of those who are looking to get into the market and don’t have enough money saved up yet or you currently have poor credit, there’s always the option to rent to own.
Unders.... More »
Mortgage debt taking up a record share of income Mar 17th
Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household dispos.... More »
70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st
Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »
Is this part-time teacher on track to retire in 9 years? + MORE Dec 18th
Sarah Press is 41 years old and working as a part-time teacher in Toronto. She also has what she calls some “side gigs” cleaning houses so that she can earn additional income that she hopes will allow her to retire at 50 on a reduced pension. “My true retirement age with the school board is 5.... More »
9 Ways to Keep Your Credit Score as High as Possible (Part II) Jul 10th
In our previous post, we spoke about the fact that there are so many credit score providers out there, all providing different results, and chances are none of those results are the credit score lenders see when you apply for a loan product such as a mortgage, credit card or car loan. How are you su.... More »
Mortgage Career: Xeva Mortgage – Sales/Recruitment Manager
– canadianmortgagetrends.com
Company: Xeva Mortgage Location of position: South Surrey, British Columbia Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Sales/Recruitment Manager Position Type: Regular Position Status: Full Time Job: Sales/Recruitment Manager Primary Location: Vancouver, B.C. Hiring Salary: Base Salary $75,000/yr plus extremely competitive bonus structure (potential income of $150K+) Unposting Date: Aug 30, […]
BMO reintroduces 2.99% 5-year, fixed rate mortgage
– moneysense.ca
Image courtesy of Stuart Miles / FreeDigitalPhotos.netTORONTO – The Bank of Montreal has slashed its five-year, fixed mortgage rate to 2.99 per cent, a level that had previously raised concerns about it leading to an overheated housing market.
The bank (TSX:BMO) says it will offer the new rate until Sept. 30.
“This rate change is driven by the fact that bond yields have fallen and we are in what is another busy season for buying a home,” said BMO spokesman Paul Gammal on Wednesday.
Previously, BMO’s five-year, fixed rate had been 3.29 per cent.
The bank raised concerns from Ottawa when it offered the 2.99 per cent rate in March 2013. The move sparked a personal phone call from then-finance minister Jim Flaherty, who publicly chided the bank for lowering its key five-year rate, saying that he believed in “responsible lending” and was worried that the low rate would result in a race to the bottom with the other major banks.
Flaherty’s general concern was that the low rate would encourage Canadians to take on unsustainable loans and work against the government’s efforts to slow the momentum of the housing market…
More disclosure.. but still no standardization of Mortgage Penalties.
– canadamortgagenews.ca
Last week, we heard some potentially good news for Canadian consumers. Federal Finance Minister, Joe Oliver, announced Banks would have to provide consumers more disclosure on certain products, including collateral mortgages. We welcome more disclosure. However, before we get too excited and give the Federal govt too much credit, let’s wait to see if this […]
Mortgage Career: Equity Financial Trust – Business Development Manager
– canadianmortgagetrends.com
Company: Equity Financial Trust Location of Positions: Ottawa & Surrounding regions; Greater Toronto Area; London/Kitchener-Waterloo/Guelph Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Business Development Manager Location: Head office based in Toronto, ON. Recruiting for the following areas: Ottawa & Surrounding regions Greater Toronto Area London/Kitchener-Waterloo/Guelph […]
Mortgage Career: True North Mortgage – Salaried Mortgage Agent
– canadianmortgagetrends.com
Company: True North Mortgage Location of Position: Toronto, ON Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Salaried Mortgage Agent True North Mortgage is looking for a Mortgage Agent for their Toronto downtown locations. Mission Statement: To offer Canada wide mortgages at best rates with friendly, informative […]
