Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Scotiabank to buy small Dallas bank in mortgage-finance play + MORE May 30th
Scotiabank agreed to acquire Maple Financial Holdings Inc., which owns a small U.S. commercial bank, as the Canadian firm looks to expand its structured-finance business in the American mortgage industry. .... More »
Bank of Canada Raises Rate by 0.25% – Is it Time to Worry Yet? + MORE Mar 8th
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 .... More »
Mortgage risks fading thanks to higher rates, tougher rules, says Bank of Canada report Nov 15th
The lofty levels of household debt has been a key concern for the Bank of Canada as it gradually raises its trend-setting interest rate, which it has already hiked five times since the summer of 2017..... More »
Loanova prepares to launch Canada’s first fractional mortgage platform + MORE Nov 27th
The tech-driven startup plans to let everyday investors buy small stakes in syndicated mortgages, while helping borrowers who don’t qualify for traditional bank financing..... More »
Canadians Not Deterred By Homeownership Obstacles Sep 6th
Those dreaming of homeownership face a long list of obstacles: high prices, low supply and ever-changing mortgage rules and qualification requirements, to name a few. But that hasn’t shaken Canadians’ desire to have a place to call their own, according to the latest consumer survey from .... More »
CREA May 2014 Report: A 4-Year Record for Sales
– ratesupermarket.ca
Bad weather may have delayed the busy spring real estate season but it didn’t completely sour homebuyers’ shopping moods. According to the Canadian Real Estate Association (CREA), home sales were up 5.9 per cent from April to May this year. That’s the strongest month-over-month increase in four years.
Low mortgage rates have made it possible for sales to grow at this rate, despite dwindling affordability in markets like Toronto and Vancouver.
Here’s what you need to know about current market conditions, whether you’re a buyer, seller or current owner.
Low mortgage rates have made it possible for sales to grow at this rate, despite dwindling affordability in markets like Toronto and Vancouver.
Here’s what you need to know about current market conditions, whether you’re a buyer, seller or current owner.
Big City Gains
Canada’s urban centres are experiencing the biggest rise in both sales and home prices. The average home sale price in Toronto rose to $652,681 up from $599,215 last year. In Metro Vancouver, the average sale price of all homes is currently more than $624,000. This represents a 4.3 per cent increase compared to May 2013.
These prices are pushing the national average price to a record high, despite more balanced conditions in other markets…
2014 CMHC Mortgage Consumer Survey
– canadianmortgagetrends.com
CMHC’s Mortgage Consumer Survey is one of the best looks at mortgagor behaviour because, unlike most other industry surveys, it focuses only on recent borrowers. And those recent borrowers are telling Read More
Use your mortgage to pull debt together and save for retirement.
– canadamortgagenews.ca
Perhaps too much debt has made your monthly cash flow tight, putting you under some financial pressure and making it almost impossible to save for retirement. With the right plan in place, it may be possible to simplify your debt, reduce interest costs, and save for retirement, all without earning more or cutting your spending. […]
