Home / Mortgages / BLOGGED: RBC To Hike Fixed Mortgage Rates http://t.co/uuZDGxA5e5 + MORE Jun 10th

BLOGGED: RBC To Hike Fixed Mortgage Rates http://t.co/uuZDGxA5e5 + MORE Jun 10th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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GTA home sales drop 16% in 2018, fewer houses listed: TREB + MORE Jan 5th

The number of homes sold in Toronto and the surrounding area fell in 2018 as homebuyers and sellers grappled with a new reality of higher interest rates and stricter mortgage rules..... More »

Parent of U.S. Mega-Lender Buys Control of Mortgage Fintech, Lendesk Apr 27th

No, Quicken Loans has no plans to start selling mortgages in Canada. But it does want a piece of our mortgage technology market. That’s why its parent company, Rock Holdings Inc., has acquired a majority stake in Vancouver-based Lendesk. Lendesk is a mortgage fintech company that connects borrower.... More »

Renewing your mortgage? A guide for Canadians + MORE Oct 10th

More than two years have passed since interest rates took off in 2022, and though the Bank of Canada (BoC) has started backing down that ladder, holders on five-year fixed mortgages continue to face significantly higher rates and payments as their home loans come up for renewal. Even those currently.... More »

No New Rules Coming. Well, Maybe One Jan 14th

Minister of Finance Bill Morneau is suggesting that no new mortgage rules are on the drawing board. After meeting with economists on Friday, he told reporters: “We, as you know, were quite careful in considering the…situation around the housing markets across the country as we considered measure.... More »

What’s Driving Canadian Homebuyers? Feb 16th

Mortgage rule changes and increasing interest rates—surprisingly—weren’t the top motivators for prospective homebuyers in 2017, according to a new survey from the Canada Mortgage and Housing Corporation (CMHC). Instead, the 2018 Prospective Home Buyers Survey found that improved accessibil.... More »

Canadians saving more, paying off mortgages faster

Who says Canadians can't save?
According to an article from The Globe and Mail, the Canadian personal savings rate is twice that of our neighbors to the south, and nearly six times higher than it was 10 years ago.
"All the talk about the Canadian household being tapped out or out of shape is a bit overdone," Doug Porter, chief economist at BMO Nesbitt Burns, told the news source.
Data from Statistics Canada shows that the savings rate during the first quarter of 2013 was 5.5 percent, up from 5.4 percent during the final three months of 2012. That may not seem like a large improvement, but it's important to keep in mind that the original forecast for the savings rate during the fourth quarter of last year was 3.8 percent, according to Statscan.
"The savings situation looks more encouraging still when we consider the amount of money that people have been pouring into their mortgages to pay down outstanding balances," writes Rob Carrick for The Globe and Mail…

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Monoline Lenders Unplugged

– canadianmortgagetrends.com

Monoline lenders (a.k.a. non-deposit-taking lenders) are an important cog in the mortgage market. Their mortgage products and low pricing improve consumer choice and force our dominant banks to be more…

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Banks raise mortgage rates

– canadamortgagenews.ca

RBC is raising their rates… As expected, fixed mortgage rates have gone up.  RBC is the first of the BIG SIX to raise their rates.  RBC’s 4 yr rate special will go to 3.09% from 2.99% and their 5 yr rate special will go to 3.29% from 2.99%. Of course, these are NOT the best […]

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