Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Latest in mortgage news: consumer insolvencies at highest level since 2019 May 25th
Consumer insolvencies in Canada have risen to their highest level in three years..... More »
Here’s how much a GST break could save first-time home buyers + MORE Jun 11th
The Liberal plan to give first-time home buyers a tax break on a newly built home could have substantial impacts on housing affordability—with a few caveats—a new analysis finds.
The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to .... More »
Exclusive: 76% of mortgage holders are anxious about their upcoming renewal: MPC survey + MORE Jun 14th
Growing financial anxiety is affecting both Canadian mortgage holders and non-owners alike, according to the latest consumer survey from Mortgage Professionals Canada..... More »
Bond yields plunge. What it means for fixed mortgage rates Jul 25th
Bond yields dove over 30 basis points on Friday as economic worries start to replace inflation concerns..... More »
CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses + MORE Mar 4th
CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren't expected to translate into "material" losses, the bank said..... 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.
