Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
High rent, mortgage rates keeping upward pressure on inflation Jan 19th
Canada’s inflation rate continued to ease in December, despite upward pressure from rising rents and mortgage interest costs. The Consumer Price Index eased to an annual growth rate of 6.3% last month, thanks largely to a decline in gas prices. That’s down from 6.8% in November and what .... More »
Climbing Debt, Diminishing Savings Highlighted in CBC Documentary Mar 6th
When it comes to debt management, many Canadians are struggling to keep up, with their housing situation being a source of stress. That was one of the key takeaways from the latest episode of CBC Television’s The Stats of Life, which focused on Canadian statistics surrounding savings (or lack.... More »
2022 – Year in review Jan 3rd
As we turn the page on yet another tumultuous year, we wanted to take a look back at some of the top mortgage-related stories of 2022 and how mortgage rates fared..... More »
Q3 Lender Earnings: The Unexpected Recovery Dec 2nd
The country’s key mortgage lenders recently released their third-quarter earnings, and it’s safe to say results were better-than-expected all around. Equitable Bank had its best-ever third quarter, while First National had its own record quarter. “For customers and partners, we ori.... More »
Lender Calls – Q4 Roundup Mar 31st
Canada’s largest broker channel players have now reported fourth-quarter earnings. The quarter was unusually rich in earnings commentary, particularly about Ottawa’s latest mortgage regulations. Most companies have downplayed the impact of those rules. But as all of us in the industry kn.... More »
Spotlight On Mortgages: October 18, 2013
– ratesupermarket.ca
The effects of last summer’s mortgage affordability restrictions appear to be reversing. The latest CREA numbers show housing demand has recovered by 18 per cent from last September’s lagging numbers, and is up just over one per cent from August.
Keep in perspective that while this growth looks huge, it’s because last year’s market was dogged by much softer than usual demand as the OSFI-imposed amortization changes knocked buyers out of the market. Current prices also reflect this sub-par buying time – national prices are up 8.8 per cent year over year, but are skewed by recovery in urban centres like Vancouver, which saw a notable price slide when the changes were introduced, according to CREA Chief Economist Gregory Klump.
“Year-over-year increases in the sales over the past couple of months highlights how activity softened across much of the country following the introduction of tighter mortgage rules last summer,” he stated.
In Toronto, housing demand is still scorching, with TREB reporting a 21 per cent increase in sales – 13 per cent higher than the 10-year average…
Is there a better mortgage rate out there?
– canadamortgagenews.ca
You’re 2 years into your mortgage term. You got a great rate… or so you thought…? But now you aren’t sure. So much talk about record low interest rates… You begin to question.. Maybe there’s a better deal out there? Did you choose the right product and Lender? Has your mortgage advisor or […]
How to plan for the unexpected costs of illness
– thestar.com
Making financial plans for unexpected health issues is important, say financial advisors, including access to an emergency fund, even if it’s through a secured line of credit.
