Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
National Bank says its consumers remain “resilient” with $1 billion worth of excess liquidity Oct 2nd
National Bank reports that its mortgage clients have been resilient in the face of sharply higher interest rates, thanks in part to high levels of liquidity..... More »
Watch: What Is the First-Time Home Buyer Incentive? + MORE Apr 7th
In 2019, the federal government introduced the First-Time Home Buyer Incentive, a program designed to make homeownership more affordable. But how does it work? Who’s it for? And is it always a good option for buyers?
Through the First-Time Home Buyer Incentive, the government contributes to a .... More »
From military service to mortgage success: How Philippe Gauvin found his perfect calling + MORE Jun 24th
When Philippe Gauvin completed his military service in 2019, he wanted to find a career that similarly valued discipline, a strong work ethic, and that provided the opportunity to help people..... More »
One quarter of TD mortgages now have an amortization of 35+ years + MORE Dec 4th
Over a quarter of TD Bank's residential mortgage portfolio now has an effective amortization of 35 years or longer..... More »
Scotiabank not worried about its floating-rate portfolio Jun 28th
With variable rates rising by the month—and more hikes anticipated—observers are keeping a careful watch on adjustable-rate mortgages..... More »
Bank of Canada Raises Rate by 0.25% – Is it Time to Worry Yet?
– canadamortgagenews.ca
As predicted, the Bank of Canada raised their benchmark rate a few days ago. No surprises here. And yet, the media will make you feel like this was out of left field. Even worse, they’ll spew fear mongering dribble that the train is off then rail. That every single BoC meeting for the rest of the year will result in a rate pump. That we’re heading for a market crash of epic proportions. So is it time to worry yet?
I’m here to tell you this: turn off the television and take a deep breath. There’s nothing to fear.
These rate hikes are entirely normal. What wasn’t normal was how low they got in the first place. What we’re seeing is a minor correction. Not in the market itself; but in the rates that govern it. Even with these last two increases and the couple that are expected to follow, we’re still experiencing historically low rates – rates that anyone in the market for a mortgage should be taking advantage of.
Otherwise, it’s money left on the table…
Mortgage Professionals Canada CEO Paul Taylor Stepping Down
– canadianmortgagetrends.com
Paul Taylor, the President and CEO of Mortgage Professionals Canada, has announced he will be stepping down from his position.
