Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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The best 5-year fixed mortgage rates in Canada + MORE Jul 12th
Mortgages
The best 5-year fixed mortgage rates in Canada
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Q4 Earnings Mortgage Morsels: Scotiabank & RBC + MORE Dec 5th
A reduction in provisions set aside for potential credit losses boosted fourth-quarter earnings results for both Scotiabank and RBC this week..... More »
The latest in mortgage news: BoC rate hike expectations grow May 13th
The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year..... More »
Mortgage payment calculator + MORE Aug 24th
For the majority of Canadians, buying a home will be the single biggest purchase they ever make, and getting a mortgage is an essential part of this process. But how do you ensure you get a mortgage that you can actually afford over the long term? That’s where a mortgage payment calculator com.... More »
Lauren van den Berg named new MPC CEO + MORE Aug 12th
Mortgage Professionals Canada announced today that Lauren van den Berg will take over as President and CEO of the association starting next month. Van den Berg will fill the position left vacant by former MPC CEO Paul Taylor. The change in leadership comes as the association recently achieved the mi.... More »
Mortgage Rates Rising as Bond Yields Surge
– canadianmortgagetrends.com
A growing number of lenders have been raising interest rates over the past week in response to rising bond yields, including the RBC, BMO and National Bank of Canada.
Canada’s best credit cards for people with bad credit 2021
– moneysense.ca
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. But if you want to improve your credit score, you’ll have to show you can handle credit responsibly—and the only way to do that is (you guessed it) to have a credit card. When used properly, having and using a credit card can actually be a helpful tool to assist in rebuilding bad credit—and, luckily, there’s a whole host of products catered to people with poor credit scores. While these often come with higher interest rates and lower spending limits, they can be a good starting point to re-establishing a respectable credit score, which in turn will help you get approved down the line for loans, a line of credit or even a mortgage.Find your next credit card.What kind of credit card are you looking for? Get matched with the best cards for you in under 2 minutes at ratehub.ca. Let’s get started.I want to earn rewardsI want to pay low interestYou will be leaving MoneySense. Just close the tab to return…
Don’t Fall For Low Fixed Rates
– canadamortgagenews.ca
The fixed rate versus variable rate debate has never been more heated. With fixed rates currently averaging historical lows of roughly 2.25%, a lot of people are left wondering, “why wouldn’t I choose a fixed rate mortgage?” Fair enough – it certainly appears to be a safe bet on the surface. Lock in a low rate. Maintain it for the entirety of your term. Never worry about rates going up.
This belief is fuelled by the big banks spreading hysteria that variable rates are sure to shoot up. Why risk it when you can go with a record low fixed rate? Here’s the truth: The banks are pushing 5-year fixed rate mortgages because they’re more profitable for them. A variable rate mortgage isn’t the gamble it’s made out to be. In fact, it’s by far the more prudent move.
The Truth
The Bank of Canada meets eight times a year to set the prime rate. As you might know, the prime rate is what affects variable rates. The prime rate rarely changes, and when it does, it’s only by 0…
