Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
TD Bank sees mortgage volumes rise 7% in Q2, gains market share May 27th
Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter..... More »
Record-Low Variable Rate Wars EXPIRE THURSDAY… Don’t miss out! + MORE May 30th
The incredible variable rate wars we’re seeing this month are about to come to a close! It would be a shame to miss out on these savings! And, while there is a possibility that they’ll extend into June, I wouldn’t risk it – deep savings like these don’t come around eve.... More »
Should You Refinance Your Mortgage? + MORE Feb 18th
A recent study by NerdWallet using mortgage data by Black Knight Financial Services found that Americans are wasting as much as $13 billion per year because they aren’t refinancing their mortgages.
The study, which identified over 5.2 million homeowners who had good credit and at least 20 per cen.... More »
Bank of Canada raises key interest rate to 1.25% + MORE Jan 17th
OTTAWA — The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer — and to send a signal that more increases are likely on the horizon.
The central bank pointed to unexpectedly solid economic numbers as.... More »
How Does the Home Capital Crisis Affect Me? + MORE May 12th
As of late, Home Capital Group is dominating the headlines. To quickly summarize, on April 19, the Ontario Securities Commission (OSC) claimed that brokers had falsified information on mortgage applications submitted to Home Trust. As a result, shares in the company dropped while customers withdrew.... More »
Investors Group Introduces 1.99% 3 Year Variable Mortgage Rate
– ratesupermarket.ca
Investors Group has joined the mortgage rate-cutting fray, introducing a jaw-dropping 1.99 per cent rate variable rate to the market. It’s one of the lowest variable rates ever seen in Canada (our site saw a dip as low 1.60 per cent in May 2010), and sure to catch the interest of house hunters in what has already been a competitively-priced spring home buying season.
Rate Details
This promotional three-year rate, which is priced 40 basis points below the next lowest 3-year variable offering, is available only for new Investors Group mortgage customers, and it’s not clear at this point how long the deal will be offered.
It is available to high-ratio buyers (those paying less than 20 per cent down on their home purchase).
There are no minimum payment restrictions in order to qualify, and the mortgage is applicable to owner occupied properties, rental properties, cottages, and condos.
The rate is not available for renewals or refinances of any kind, and can only broken in the case of a home sale…
IG’s 1.99%. Some Odds of Note
– canadianmortgagetrends.com
Investors Group’s 1.99% variable-rate special is already making life harder for competitors. Clients are contacting their bankers and brokers and asking, “Is this mortgage right for me?” and “Can you…
A New Low Rate Rally
– ratesupermarket.ca
The Canadian finance product landscape is always evolving, and this week was no exception, with a few major shakeups among the credit card and mortgage markets. Investors Group stormed the home buying scene with the lowest rate so far this season – a sub-2% variable rate, sure to turn heads among an already competitive rate environment.
Fans of prepaid credit cards also have reason to smile, as the federal government has done away with frustrating hidden fees and misleading packaging. Be sure to check out our coverage on the recent changes.
Investors Group Introduces 1.99% 3-Year Variable Mortgage Rate
It’s one of the lowest variable rates ever seen – should you take the opportunity to score your mortgage at this rate? Investors Group made headlines this week with their 1.99% jaw dropper – but while such a rate offers fantastic savings, there are restrictions consumers should be aware of. Check out our breakdown of this mortgage product’s features, and see if it’s a fit for your home financing plan…
