Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Housing affordability challenges leading to increased risk of fraud + MORE Mar 29th
With higher prices and interest rates putting the dream of homeownership further out of reach studies suggest Canadians are more comfortable inflating certain details of their mortgage application — a form of fraud that could have serious legal ramifications..... More »
Could diversified funding be the latest trend for alternative mortgages? + MORE Apr 28th
As the winds of change sweep across the lending landscape, regulatory underwriting guidelines are growing ever tighter. This puts non-bank clients in a precarious position, and mortgage brokers are feeling the pressure..... More »
Lender Calls – Q3 Roundup + MORE Dec 21st
Canada’s biggest non-bank lenders have all reported third-quarter earnings. In their earnings calls they outlined how they’re coping with Ottawa’s recent changes to the mortgage qualification and insurance rules. Per usual, we’ve combed through their transcripts in order to se.... More »
Can I afford to buy a second home? + MORE Sep 26th
There are plenty of reasons you may want to buy a second home. Maybe you’d like a second property for a family member to live in (e.g., your daughter while she attends university) or a condo to stay in during the week when you’re working downtown. But can you afford it?
“Before you buy.... More »
Weekly mortgage digest: Canadians are pulling back on borrowing Sep 16th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Collateral Charge Undercover – Chapter 2
– canadianmortgagetrends.com
CBC’s Marketplace is out with a new undercover report on collateral charge mortgages. The consumer affairs program found some bank reps who were not disclosing the pitfalls of collateral charges. That’s despite banks pledging to present collateral mortgages in language that’s “clear, simple and not misleading.” CBC’s hidden camera catches one bank rep explaining collateral charges so poorly, he really has no business selling mortgages at all. Marketplace then tapes another rep who misleadingly suggests that it’s easy to switch lenders with a collateral charge. That rep goes on to admonish the customer for “shopping around on rates.” CBC says the mortgage specialists it targeted didn’t READ MORE
Rate shopping sites…tested again.. and failed again.
– canadamortgagenews.ca
A few years ago, I published a study on Rate shopping sites. These sites were gaining popularity with consumers as a place to go if you wanted to get the best rates. And they attracted a lot of attention. You know the sites… they have catchy ads like ‘shopping for the Best Mortgage rates in […]
Mortgage Rates hit Record lows again!
– canadamortgagenews.ca
This isn’t 2010, 11, 12, 13 or even 2014… It’s 2015, and once again, we are making this announcement. 5 year Fixed Mortgage rates are an new all-time lows! Today, you can get a 5 yr fixed rate for 2.79%, even 2.74%, with some conditions. (and by the way, yes, I am seeing slightly lower […]
