Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Bank of Canada expected to raise its key rate for first time in nearly seven years + MORE Jul 11th
The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in oil prices.
Low interest rates have helped fuel the housing market in recent years, incentivizing .... More »
Should you get a fixed-rate or variable mortgage? In these strange times, fixed has a rare edge Nov 23rd
With rates this low, the usual advantages of renewing with a variable mortgage are diminished or gone, writes David Aston..... More »
Bank CEOs weigh in on “vulnerable” mortgage clients + MORE Jan 12th
Canada's Big-Bank CEOs weighed this week in on the current state of their mortgage clients, including those they consider "vulnerable" in the event of a recession..... More »
Toronto and Vancouver mortgage arrears set to hit highest levels in 10 years, CMHC warns + MORE Nov 15th
Mortgage arrears in Toronto and Vancouver are on track to rise to levels not seen in over a decade, according to a new forecast from Canada's housing agency..... More »
Locking in your mortgage could save you money, but it depends on your plans + MORE Oct 19th
Homeowners with variable mortgage rates have seen their rates rise over the past year as the Bank of Canada has raised its key interest rate target four times..... More »
Home Capital Group Inc. shares touched a one-year low on Thursday, a day after the Ontario Securities Commission launched proceedings against the Toronto-based mortgage lender and some of its current and former executives.
Home Capital Group: A timeline
– theglobeandmail.com
The Ontario Securities Commission has accused the alternative mortgage lender of misleading disclosure. How we got here
BREAKING: Ontario Car Insurance Rates Increase
– ratesupermarket.ca
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 1.24 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the first quarter of 2017, approved rates from auto insurance companies increased by 1.24 per cent on average.
The range of approved rates seemed to be significant, with some companies lowering their rates by as much as 3.33 per cent, and another inflating its rates by 7.08 per cent on average.
“Ontario has a very competitive marketplace,” FSCO said in its quarterly statement…
Government Committee Reports on Mortgage Changes
– canadianmortgagetrends.com
Following weeks of consultations with mortgage experts, the government’s Standing Committee on Finance has issued five recommendations for Parliament. They stem from the government’s mortgage changes last fall and this January. Those policies generated widespread criticism from non-bank mortgage providers who argued the new rules: created an uneven playing field between banks and non-bank lenders make it more difficult and expensive for low-risk borrowers to obtain a mortgage. Largely as a result of that criticism, the Standing Committee on Finance recommended that the federal government: Work with provincial governments to ensure stable, affordable regional housing markets. Consider increased support for first-time homebuyers. Use Statistics Canada to beef up housing data and READ MORE
Home Capital Group Inc. shares touched a one-year low on Thursday, a day after the Ontario Securities Commission launched proceedings against the Toronto-based mortgage lender and some of its current and former executives.
