Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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I missed a mortgage payment. What happens now? + MORE Sep 20th
If you skip one month’s mortgage payment, then resume scheduled payments for six months, all six of those payments may be considered late..... More »
The Latest in Mortgage News: RBC downgrades its housing market forecast + MORE Jul 28th
RBC says it expects the country's housing correction to "deepen" in the coming months with resale activity and prices falling more than expected..... More »
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AI is creeping into every industry imaginable, from oil and gas to fintech, and the mortgage industry is no exception..... More »
Canadians opting for shorter mortgage terms as they hope for declining interest rates + MORE Jun 15th
Canadian housing mortgage rates are all over the map. Don't get trapped in an unnecessarily costly mortgage agreement.
You Don’t Need a Big Bank to Get a Mortgage - canadamortgagenews.caIt’s tough to get a mortgage these days. New and existing clients have been calling non-stop letting me.... More »
Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th
I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying ju.... More »
Four Tips to Speed up Your Underwriting Process
– canadianmortgagetrends.com
For many Canadian Mortgage professionals, underwriting a deal is just part of the job. It’s done so often, it can feel methodical and automatic.
Now’s not the time to switch to a fixed-rate mortgage
– moneysense.ca
The Bank of Canada’s April 13 interest rate hike of 0.5%—the biggest one-time rate jump in decades—caught many variable-rate mortgage holders off guard. Some are likely thinking about running to their local bank branch or mortgage specialist to lock into a standard five-year fixed rate. Those who do so will likely be welcomed into the lion’s den by employees with open arms, wide grins and reassuring sales pitches bestowing the benefits of peace of mind and comfort.
Stop! Yes, banks’ prime lending rate has increased from 2.4% to 3.2% with the first two benchmark rate increases this year. And yes, we will most likely see another Bank of Canada rate increase come June, and it could push the prime rate further, possibly to 3.7%. This all seems uncontrollable, unmanageable—and it will cause many to panic.
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…
If rates keep rising, your monthly interest payments could almost double. But there are some things you can do to protect yourself.
