Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Mortgage interest rate hikes have stalled your home-buying dreams. Now what? + MORE Jun 12th
Being priced out of the market might just be a blessing in disguise, writes Lesley-Anne Scorgie. Bide your time by saving more and enjoying the freedom that renting brings..... More »
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 »
No signs of distress among borrowers yet, First National says + MORE Nov 10th
Canada's largest non-bank lender says it is keeping a close eye on its mortgage borrowers, but hasn't seen any "measurable issues" related to higher payments so far..... More »
Breaking down bank fees + MORE Jul 16th
The COVID-19 pandemic has hit a lot of Canadians hard—emotionally, physically and financially. So it isn’t surprising that many are calling out banks that raised their fees to consumers at a time when so many people are struggling. Given the number of banks that have also reported record profits.... More »
Would You Buy a Home with Strangers? These Canadian Companies Are Betting On It + MORE Oct 2nd
Lesli Gaynor was tired of renting a home for herself and her two-year-old son. The Toronto resident wanted more space and a more stable living environment, where a landlord couldn’t kick her out. So, in the early 1990s she got together with two friends and bought a house in the city’s Parkdale n.... More »
Bond Yields Surge, Mortgage Rates Rising in Response
– canadianmortgagetrends.com
Canadian bond yields hit their highest level since April in recent days, and a number of lenders have responded by starting to raise some of their mortgage rates. CMLS, MCAP and First National were among the non-bank lenders to increase at least some of their rates, with their broker rates rising 10-30 bps. The 5-year bond yield, which leads fixed mortgage rates, closed at 0.67% on Monday, a 10-month high. As funding costs rise, lender margins get squeezed to the […]
Fixed rates going up? Should you be concerned?
– canadamortgagenews.ca
You may have seen or heard reports of pending fixed rate increases. The media loves to spread and focus on bad news more than good news. That’s the media for you, though.
This is your notice that fixed rates could go up over the next few weeks. Now that we have that out of the way, let’s talk about what you should do. Personally, I am doing nothing. I am keeping all my mortgages in a variable rate. The reasons are simple.
We don’t expect the Bank of Canada to increase the prime rate for a few years, or possibly even longer. In fact, the Bank of Canada has made it clear that they will not raise the prime rate until at least 2023. However, fixed rates are priced on the Government of Canada bond yields. Bond yields have gone up slightly due to an increased sense of optimism about the economy recovering in the coming months. Just last week, Canada purchased $436.5 million in provincial bonds in hopes of re-inflating the economy. This has a direct impact on fixed interest rates…
What is term life insurance and how, exactly, does It work?
– moneysense.ca
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event of your death. Here’s everything you need to know about term life insurance in Canada.
What is term life insurance?
The basics of life insurance are as you guessed: You pay small amounts of money over a length of time and, when you die, money is left for your family.
Term life insurance is one of the many types of life insurance available in Canada. As simple as its name implies, term life insurance provides coverage based on a set period of time, usually a 10-year, 20-year or 30-year term.
Many opt for term life insurance because it offers low-cost coverage for a certain amount of time, and it is generally well-suited for covering debts with a known lifespan, like a mortgage. Generally speaking, premiums can range from $13 a month to more than $100 a month for $100,000 of coverage, depending on a wide range of factors, like your age, health and lifestyle…
What is term life insurance?
The basics of life insurance are as you guessed: You pay small amounts of money over a length of time and, when you die, money is left for your family.
Term life insurance is one of the many types of life insurance available in Canada. As simple as its name implies, term life insurance provides coverage based on a set period of time, usually a 10-year, 20-year or 30-year term.
Many opt for term life insurance because it offers low-cost coverage for a certain amount of time, and it is generally well-suited for covering debts with a known lifespan, like a mortgage. Generally speaking, premiums can range from $13 a month to more than $100 a month for $100,000 of coverage, depending on a wide range of factors, like your age, health and lifestyle…
