Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Mortgage borrowing slides to lowest since 2014 + MORE Jun 14th
Canadian mortgage borrowing over the first three months of 2018 fell by $2 billion to $13.7 billion — the lowest level since 2014 — following the introduction of new lending rules and a rise in interest rates..... More »
CMHC reports annual rate of housing starts in June down six per cent from May + MORE Jul 17th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in June fell six per cent compared with May..... More »
New Mortgage Prepayment Stats + MORE Jun 21st
Manulife released new data this week on homeowners’ tendency to prepay their mortgages, as well as their ability to withstand interest rate hikes. Here’s what those numbers revealed. Prepayment Trends Mortgages with big prepayment allowances save a small fraction of the population a l.... More »
What is a mortgage broker? Oct 17th
Mortgage brokers are a highly regulated specialized alternative to Canada’s big banks. But what is a mortgage broker exactly? And, When it comes to the purchase of your home, why would you choose a broker over a mortgage specialist at your bank?
Get the mortgage rate that works for you.Fin.... More »
What to do about your debt and mortgages after the interest rate hike Jan 29th
Personal finance expert Laleh Samarbakhsh shares her advice on the best ways to take advantage of the increased rates..... More »
Spotlight On Mortgages: September 13, 2013
– ratesupermarket.ca
Buying a home and starting a family is a milestone long aspired to by young adults – but are today’s young people having to make a hard choice? Data from the new National Household Survey shows that almost half of households under the age of 24 are spending more than they can afford on their shelter costs – and it’s leaving them with little monetary resource for anything else.
The standard for shelter costs (any money put toward mortgage payments, rent, utilities and other fees) is 30 per cent of a household’s total income – a threshold put in place by the CMHC in 1986. While it may not be entirely surprising that the under-24 set is over their heads (lingering post secondary debt and a lagging job market take their toll), the survey found that in total, a quarter of all Canadian households are blowing the limit.
While the majority of overreaching households were renters (40.1 per cent), so are 18.5 per cent of homeowners – especially mortgage holders, who were found to exceed the 30 per cent mark by $688 each month…
Bank of Nova Scotia – 10 year Closed : 4.39% (0.1%)
– ratesupermarket.ca
Bank of Nova Scotia 10 year Closed mortgage rate was changed on September 12, 2013
DUCA Financial Services – 7 year Closed : 4.29% (0.1%)
– ratesupermarket.ca
DUCA Financial Services 7 year Closed mortgage rate was changed on September 12, 2013
Servus Credit Union – 5 year Closed : 5.34% (0.2%)
– ratesupermarket.ca
Servus Credit Union 5 year Closed mortgage rate was changed on September 11, 2013
58% of Canadians have a mortgage.. is that a big number?
– canadamortgagenews.ca
Saw this article in the Montreal Gazette quoting a National Housing Survey. It says 58.9% of Canadian homeowners have a mortgage. Slightly up from the 57.9% of 2006 census. So does this mean mortgage Canadians are taking bigger mortgages? Or are we borrowing for longer periods of time? Probably, yes…. but we are also […]
