Latest in Mortgage News: Dominion Lending Centre Unveils New Deals + MORE Oct 23rd

Interested in learning more about property mortgages in Canada? Look no further!
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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 »

Latest in Mortgage News – Industry Announcements Nov 26th

There’s been a number of big mortgage industry announcements in recent weeks, ranging from reverse mortgage offerings to a new broker tech partnership and a key appointment at one of the country’s top brokerages. Here’s a look at each… Equitable Raises Allowable Equity Takeou.... More »

Applying for a credit card: What you need to know + MORE Oct 29th

There are many great reasons to carry a credit card. Beyond the convenience and purchase protection included in credit card purchases, they’re also important financial tools for establishing your credit history and borrowing money—both of which you’ll need if you want to make a major purchase,.... More »
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It’s Financial Literacy Month Nov 10th

We’re celebrating Financial Literacy Month! Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more. N Register Now: Hot Topics: I.... More »

Latest in Mortgage News: Toronto and Vancouver Home Sales Up 25+% in October Nov 7th

The postponed spring housing market has now extended its run well into the fall, with home sales in Toronto and Vancouver up 25% and 29%, respectfully, compared to a year ago. The high demand is continuing to put pressure on prices as well. The average selling price for all home types in Toronto ros.... More »
What’s happening with Canada Mortgage Bonds?

Did you hear the news?   Or did you miss it? Last week the Bank of Canada announced they would stop buying Canada Mortgage Bonds.  But it seems like nobody is talking about this. 

Why should you be paying attention to this?

The buying of Canada mortgage bonds helps to keep fixed mortgage rates low.  The Bank of Canada announcing they would stop this method of quantitative easing, could and probably will put pressure on fixed mortgage rates.  But that may not happen right away as it takes a few months to work its way through financial markets.

Bank of Canada Governor, Tiff Macklem, has said they will keep the overnight rate as is or lower for the next three years, possibly even longer. This will help to keep short-term interest rates and variable-rate mortgages low. As we’ve seen fixed and variable-rate mortgages drop steadily since the beginning of Summer.

How low can they go? I’m not sure we’re going to see 0% interest rates (although that would be great for consumers or anyone borrowing money) but we are still trending downward, believe it or not…

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Dominion Lending Centres continued its growth trajectory this month with several new announcements.

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