Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
National Housing Market Shows Signs of “Moderate” Vulnerability, CMHC Says Sep 26th
At the national level, Canada’s housing market showed “moderate evidence of overvaluation” in the second quarter, according to the Canada Mortgage and Housing Corporation. “The evidence of rising imbalances in some local housing markets coupled with the general weakening of h.... More »
Mortgage brokers are slowly embracing AI tools like ChatGPT + MORE Jul 15th
AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception..... More »
Where to Buy Real Estate in Canada 2026: Calgary + MORE Apr 30th
When most people think of Calgary, they picture cowboys and oil. They’re not wrong, but they’re about a decade behind. Since 2018, Calgary’s tech sector has grown by 78%.
The city’s food scene spans everything from Ethiopian and Korean spots to farm‑to‑table restaurants,.... More »
Canadian House Prices Hit Record High Amid 'Oversupply' Warning + MORE Jun 12th
Canadian home prices hit a record high in May despite signs of an “oversupply” in many markets, National Bank Financial said Friday.
The Teranet-National Bank House Price Index showed house prices rising 0.9 per cent in May from the month before. They were up 4.6 per cent in a year.
All but on.... More »
Mortgage renewal calculator + MORE Aug 18th
When it’s time to renew your mortgage, you can either stay with your current lender or shop around for a new one that offers a lower interest rate or different . Using a mortgage renewal calculator can help you pick the best mortgage offer available to you at the time of renewal.
.... More »
News Flash! BMO and TD’s 2.79% is great but it ISN’T the lowest rate!
– canadamortgagenews.ca
It’s become an annual tradition. Every year around this time, BMO announces, what appears to be a great mortgage for a 5 year fixed rate. Last week, BMO announced they were lowering their 5 yr Fixed rate to 2.79%. TD jumped in and did the same thing. Wow! That’s the lowest advertised rate by […]
Promoting Consumer Choice in Ottawa
– canadianmortgagetrends.com
The Canadian Association of Accredited Mortgage Professionals (CAAMP) was in Ottawa twice these past four weeks. Its missions: to share mortgage market data with policy-makers, support consumer access to more mortgage options and keep issues facing mortgage brokers front and centre. CAAMP President & CEO Jim Murphy, along with Government Relations Chair Eddy Cocciollo and Chief Economist Will Dunning, met with both the Financial Consumer Agency of Canada (FCAC) and the Conservative Housing Caucus, where CAAMP presented its latest research and housing numbers to 20 MPs. The presentation’s message was to maintain current housing economics by avoiding further mortgage restrictions. CAAMP’s latest March 25th visit to Ottawa was READ MORE
Is It The Right Time to Buy a Home?
– ratesupermarket.ca
We’ve entered the busiest time of the year to buy a home – sales listings are popping up like daisies, and prospective buyers pack Saturday open houses. It seems everyone is on the house hunt these days – and record low mortgage rates stoke the demand even higher. But is it the right time for you to enter the market?
This week, we’re looking at your home buying options. Read on for the full story.
The Lowest 5-Year Fixed Rate Ever – 2.44%
The snow may be sticking around, but this spring buying season is set to be one of the hottest yet – this week, a new historical low ever was set for five-year fixed mortgage rates at 2.44%. What could you save with this rate? And how does your bank stack up? Read on for our breakdown.
Read Penelope’s Blog | The Lowest 5-Year Fixed Rate Ever
NEW: Your Ultimate First Time Home Buyer’s Guide
Thinking about buying your first home? Feeling a bit… overwhelmed? You’re not alone! Taking the plunge into property ownership can be a complex process…
Using a RRIF to pay down the mortgage
– moneysense.ca
Should you raid your RRIF to pay down your mortgage? (Getty Images / David Frank)Q: I have apprxoximatley $440,000 in a Canadian RRIF. I have a mortgage of about $268,000 and pay about $2,000 a month against that mortgage. Does it make more sense to sacrifice the RRIF, pay the tax, to pay off the mortgage or continue to pay the monthly payments? The property value is about $400,000. We are planning to downsize in the near future.—John
QA: John, your question is a common one perhaps because the closer a person gets to retirement the less they want to worry about debt. However, getting rid of debt isn’t always a prudent step. But seeing as this question is not just about real estate, I asked MoneySense contributor and Certified Financial Planner, Jason Heath, to weigh in.
His advice was simple: No. Using a one-time withdrawal from your RRIF to pay off your mortgage doesn’t make sense primarily because this action would attract a lot of tax. As soon as you withdraw any money from you RRIP this sum would be added to your other sources of income and would likely be taxed at 50% or more if you take into account the potential clawback of your Old Age Security pension, explains Heath…
