As bond yields fall, mortgage providers are cutting fixed mortgage rates + MORE Dec 1st

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Latest in Mortgage News: OSFI leaves stress test rate unchanged + MORE Dec 13th

Canada’s banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged..... More »

Fixed mortgage rates surge higher as bond yields break above 4% Aug 21st

Bond yields broke through a key resistance point this week, leading to a fresh round of fixed mortgage rate increases..... More »
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Mortgage penalty calculator + MORE Jan 22nd

If you have a closed mortgage and decide to break your mortgage contract before the agreed-upon term has expired, you’ll likely have to pay a prepayment penalty fee. A mortgage penalty calculator can help you figure out exactly how much those fees will be and will make it easier to know whethe.... More »
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Canadians opting for shorter mortgage terms as they hope for declining interest rates + MORE Jun 15th

Canadian housing mortgage rates are all over the map. Don't get trapped in an unnecessarily costly mortgage agreement. You Don’t Need a Big Bank to Get a Mortgage - canadamortgagenews.caIt’s tough to get a mortgage these days. New and existing clients have been calling non-stop letting me.... More »

Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd

It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... More »
New year, new spending habitsMoney-wise, it’s been a challenging year for Canadians but the new year is also a chance to build better strategies around how you spend money. Steer clear of these three common pitfalls for financial success in 2023.

Money mistake #1: Not paying off debt quickly

If you’re in the red, you’re not alone. In 2022, Canada’s mortgage load experienced the biggest year-to-year jump in more than a decade, and everyone is feeling the pinch as inflation raises the price of everything from groceries to holiday gifts. Budgets are tight, which makes paying off bills trickier.

Not all debt is created equal. Some debts, like a low-interest line of credit or a student loan with an interest-free grace period, might not be as pressing as those with higher interest rates. Overall, though, debt reduction is always a good strategy. That’s because, of course, over time the interest owing on a loan will really add up. In fact, an estimated 41% of Canadians carry a growing credit card balance every month…

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With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward.

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Now that the spread between fixed and variable rates has largely evaporated, a majority of borrowers are once again opting for fixed-rate mortgages.

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Royal Bank of Canada said it remains confident in the ability of a majority of its mortgage borrowers to handle payment increases.

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Scotiabank reaffirmed the strength of its variable-rate mortgage portfolio, despite the higher costs faced by borrowers due to rising interest rates.

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