Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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EQB sees impaired loans double in Q2, but expects improvement ahead + MORE Jun 5th
Alternative mortgage lender EQB saw a rise in gross impaired loans in the second quarter compared to a year ago, but highlighted recent improvements and expects losses to stabilize going forward..... More »
How much credit card debt does the average Canadian have? + MORE Sep 23rd
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
Mortgage renewal calculator + MORE Jan 25th
Thee are a lot of decisions to make when it comes to renewing your mortgage, including whether or not to stick with your current lender. A mortgage renewal calculator can simplify the process and help you pick the best mortgage offer available to you at the time of renewal.
You.... More »
Department of Finance Announces New Qualifying Rate for Insured Stress Test Feb 19th
The federal government announced on Tuesday it will be changing the benchmark qualifying rate used for Canada’s insured mortgage stress test. The change, which will take effect April 6, 2020, means borrowers with insured mortgages (typically those with less than 20% equity) will need to prove they.... More »
Canadians Ill-Prepared for a Rate Hike; Unprecedented Debt Imminent + MORE Jun 29th
A new report finds Canadians are facing a future where an unprecedented amount of household income will go towards debt servicing.
The Household Indebtedness and Financial Vulnerability report by the Parliamentary Budget Officer is raising concerns on the level of household debt amongst Canadians. .... More »
Mortgages Spotlight: August 16,2013
– ratesupermarket.ca
Mortgage Rates To Climb For At Least Two More Years
We’ve witnessed a steady upwards trajectory among fixed mortgage rates over the past few months – but what’s in store for the recent years to come? According to the Q3 2013 Housing Market Outlook released this week by the Canadian Mortgage and Housing Corporation, the average posted five-year fixed rate could jump by over 80 basis points by 2014.
The crown mortgage insurance corporation indicates a short term increase to a range of 5 – 5.50 per cent this year, and up to 5.25 to 6 per cent the next. Keep in mind though, that these are posted rates; currently, the highest on our best rates table sit at 5.14, while the lowest discounted rates can still be had in the 2.99 – 3.20 per cent range.
These increases are due to persistently high bond yields (government of Canada five-year bonds closed at a two-year high of 1.94 per cent this week!) and the challenges lenders face as a result of new limitations on their mortgage funding methods…
One-on-One With Timbercreek's Andrew Jones
– canadianmortgagetrends.com
Mortgage investment corporations (MICs) lend to borrowers that banks generally don’t touch. For that additional risk, they charge higher interest rates. Those above-average rates, in turn, help MIC investors earn…
CIBC Mortgages – 4 year Variable Opened : 3.29% (-1.1%)
– ratesupermarket.ca
CIBC Mortgages 4 year Variable Opened mortgage rate was changed on July 26, 2013
President's Choice Fin'l – 6 year Closed : 3.94% (0.05%)
– ratesupermarket.ca
President’s Choice Fin’l 6 year Closed mortgage rate was changed on July 29, 2013
Bank of Nova Scotia – 2 year Closed : 2.79% (-0.1%)
– ratesupermarket.ca
Bank of Nova Scotia 2 year Closed mortgage rate was changed on August 01, 2013
