How the Bank of Canada’s interest rate works—and why it’s rising + MORE Apr 13th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News

The latest in mortgage news: OSFI unveils minor changes to insurer capital adequacy test + MORE Sep 29th

Canada's federal banking regulator unveiled revisions to its Mortgage Insurer Capital Adequacy Test for insured variable-rate mortgages..... More »

The Latest in Mortgage News: BoC’s Affordability Index reaches worst level since 1991 Aug 15th

Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada..... More »

State of the mortgage market: Canadians anxious about their finances, but still see housing as a good investment + MORE Mar 8th

Canadian homeowners may be feeling more anxious about their finances these days, but an overwhelming majority continue to believe real estate is a good long-term investment..... More »

Can I afford to buy a second home? + MORE Sep 26th

There are plenty of reasons you may want to buy a second home. Maybe you’d like a second property for a family member to live in (e.g., your daughter while she attends university) or a condo to stay in during the week when you’re working downtown. But can you afford it? “Before you buy.... More »
 mortgage buyout

What To Expect in 2023 Jan 6th

Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. B.... More »
This B.C. tech worker is $60,000 in debt and paying mortgage for a plot of land. How can she get out of debt?While Paula, 37, has been in the dumps over her finances, a small remedy is an expected $7,000 to $15,000 she’ll be receiving soon “settling a pay equity case.”

Continue Reading On thestar.com »

Mortgage rates are heading up fast. Should you refinance and lock in before they go any higher?With rates heading up, now is the time to re-evaluate your mortgage, expert says.

Continue Reading On thestar.com »

The Bank of Canada has raised its policy interest rate by half a percentage point for the first time in decades, a move intended to slow runaway inflation. The rate hike brings the Bank’s policy interest rate, also known as the overnight rate, up to 1% from the previous 0.5%. 

It’s the second time the Bank has raised its target interest rate this year, and the first time it has done so beyond a 0.25% increment since May 2000. After maintaining a benchmark rate of 0.25% in January—a record low first implemented in March 2020 in response to the COVID-19 pandemic—it increased the rate to half a percentage point in early March. 

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quoteI’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.

Inflation, as measured by the consumer price index (CPI), has fuelled the need for a tightening of monetary policy in Canada…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!