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Latest News
Latest in mortgage news: Mortgage rates keep surging higher + MORE Sep 29th
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise..... More »
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 »
Life Insurance vs. mortgage insurance: Let’s break it down + MORE Mar 20th
Life insurance can be a necessity for ensuring your loved ones are taken care of after you’re gone. It can help them pay for funeral expenses, the costs of everyday living and much more. But one of life insurance’s main advantages is that it can pay off outstanding debts, including a mortgage. S.... More »
Residential Mortgage Credit Risk Has Risen “Only Modestly,” Says OSFI Nov 25th
The head of the agency charged with overseeing Canada's federally regulated lenders said today that residential mortgage credit risk has risen "only modestly.".... More »
How the Bank of Canada’s interest rate works—and why it’s rising + MORE Apr 13th
The Bank of Canada has raised its policy interest rate by half a percentage point for the first time in decades, a move intended to slow runaway inflation. The rate hike brings the Bank’s policy interest rate, also known as the overnight rate, up to 1% from the previous 0.5%.
It’s the s.... More »
5 Quick Reasons Why You Should Buy a Home Now During the Off-Season
– ratesupermarket.ca
Though the real estate market is nowhere as hot as it was, let’s say, two years ago, the fact of the matter is that home prices are going down, and some people are still looking to buy. Rising interest rates and a stricter mortgage stress test may have led to a decline in affordability, but if you’re still hoping to move in 2019, this may be your time to buy before another interest rate hike – and according to our experts, we may see two to three more this year.
Fall and winter are often considered less desirable times of the year to search for that perfect home. Many home buyers prefer the hustle and bustle of the spring market, plus moving during the summer months means fewer interruptions to school and work schedules. But there are advantages to waiting until the quieter months of fall and winter that may make you change your mind. Here are some of the benefits of buying a home during the off-season:
Less competition
This is easily the best part about shopping during the off-season…
Bank of Canada Holds Rates in First Announcement of 2019; Oil Prices a Big Factor
– ratesupermarket.ca
In its first announcement of the year, the Bank of Canada decided to hold its overnight rate at 1.75 per cent. It’s also lowering its growth forecast this year for Canada and around the world.
The Bank gave several reasons for its decision to keep rates steady – most notably drawing attention to low oil prices and the continuing international trade conflicts, and showing that not much has changed globally since the last announcement. However, this language used in this announcement is quite dovish compared to what we were hearing earlier in 2018. Forecasters are now predicting only two rates hikes this year, even though they previously predicted we would see as many as three rates hikes in 2019.
Rising interest rates and a stricter mortgage stress test may have led to a decline in affordability, but if you’re still hoping to move in 2019, this may be your time to buy before another interest rate hike. Find the best rates from Canadian lenders and mortgage brokers at RateSupermarket…
