Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Three-quarters of Equitable Bank’s uninsured mortgages to renew at lower rates this year + MORE Mar 1st
Equitable Bank is optimistic about continued loan growth in 2025, buoyed by expectations that most of its single-family mortgage borrowers will renew at lower rates this year..... More »
2024 housing market and interest rate forecasts + MORE Dec 28th
2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there's optimism that 2024 will be the year of rate relief..... More »
How the Bank of Canada’s interest rate works—and why it’s rising + MORE Apr 13th
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 s.... More »
70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st
Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »
Mortgage Digest: Bond yield spike drives latest fixed mortgage rate hikes of up to 30 bps + MORE Mar 22nd
Markets are rapidly repricing inflation and rate expectations, driving bond yields higher and triggering a new round of fixed mortgage increases.... More »
Attention Brokers: 8 Common Content Marketing Mistakes You Are Probably Making
– canadianmortgagetrends.com
If you’re sharing content online (and I hope you are), common pitfalls could be costing you. And not just costing your business. They also cost you valuable time. You’re a mortgage pro. While you may have marketing or writing chops, this isn’t your primary gig. Even the pros admit to making some rookie errors in content marketing. So what can you do on limited time and budget to keep your content working its hardest for you? Start by fixing these […]
Should You Accept That Pre-Approved Credit Limit Increase?
– ratesupermarket.ca
If you faithfully pay your loans, mortgage and credit cards each month, then you’ve probably received a call or letter from your bank with the news that you were pre-approved for a credit increase or a line of credit.
You might be thinking, “I don’t even use all the credit I currently have. I don’t need an increase.”
But guess what? Accepting a pre-approved credit increase may help your credit score.
Why Were You Offered a Pre-approved Increase?
If you already have an account with a bank, they may pre-approve you for a credit increase or a new line of credit, because they recognize you for being a good customer. By diligently paying off your card every month and staying on top of your current loans, your bank now trusts that you will pay them back if they increase your limit.
How Does an Increased Credit Limit Improve Your Credit Score?
No hard check
Usually, when you apply for a loan or request a credit increase, your bank sends in a request to the credit bureau for your current credit score…
Latest in Mortgage News: Fixed Mortgage Rates Could Fall Over Coronavirus Fears
– canadianmortgagetrends.com
As fear grows over the deadly Wuhan coronavirus that has killed more than 100 people, it is now becoming the world’s—and Canada’s—latest economic headwind. That fear spread to financial markets on Monday, with the TSX falling 142 points and New York’s Dow Jones ending the day down more than 450 points. Canada’s 5-year bond yield fell sharply to a three-month low, signalling that mortgage rates are likely headed lower as well. “…the new coronavirus is going to put fixed mortgage […]
Are Changes to the Stress Test Qualifying Rate Coming?
– canadianmortgagetrends.com
The use of Canada’s benchmark rate in administering the mortgage stress test is currently under review, according to an official with the Office of the Superintendent of Financial Institutions (OSFI). In a speech to the C.D. Howe Institute, Ben Gully Assistant Superintendent, Regulation Sector, said the use of the benchmark qualifying rate as the floor of Guideline B-20 stress testing for uninsured mortgages is “not playing the role that we intended.” Uninsured mortgages (those with less than 20% down payment) […]
