Important week for mortgage rates could cost or save you thousands. Oct 31st

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Renewal Rate Shock Diminishing, Says BoC + MORE Nov 9th

Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. .... More »
 home equity

The Mortgage Stress Test: What It Means If You’re Buying a Home Nov 3rd

It’s been almost a couple of years since the mortgage stress test came into effect. So, we thought it was the perfect time to revisit it and clear up any confusion. The mortgage stress test took effect January 1, 2018, affecting how much mortgage money Canadians are able to borrow towards.... More »
 home loans

Retired? No mortgage for you: How the stress test is making it tougher to borrow later in life Nov 6th

Many people are shocked to discover that the amount they can borrow decreases drastically when they retire because the stress test looks at your income..... More »
Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a greater than average number of real estate transactions.  We also saw consumers taking advantage of these low rates by refinancing their mortgages early.
The Five-Year Government of Canada bond yields have been going up and down like a yo-yo over the last three months, with a low point being 1.13% and a high of 1.58% just this past week. This uncertainty/volatility forced financial institutions to raise their interest rate by about .2% to .3%.  Having said that, interest rates are still very low. In my discussions with the major lenders, they are all telling me that it’s busier than usual for home purchases and refinance purposes.
The longer-term forecast is still for rates to come down in 2020 and 2021. Historically, October has been a volatile month for stock markets, with many of the biggest drops occurring in October…

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