Learn more about Canadian mortgage rates, rules and the latest news – read on!
Pre-approval is a standard step that prospective homeowners must complete before they go house hunting. This stage lets you know how much a bank is willing to lend you. Getting pre-approved is a detailed process that requires extensive documentation. In addition, your mortgage rate has an expiratio.... More »
The head of the Canada Mortgage and Housing Corporation delivered a particularly gloomy forecast while testifying remotely before the House of Commons Finance Committee on Tuesday. Among those predictions, CMHC CEO Evan Siddall said: Home prices could fall from their peak by 9% to 18% over the next .... More »
The coronavirus contagion left the Bank of Canada little option today. It cut Canada’s key interest rate amid fears of a deepening economic downturn. It was the bank’s first rate cut in nearly five years and likely won’t be its last this year. The move brings Canada’s overnight target rate .... More »
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers. Concerns over a second wave of COVID-19 have caused Canada’s 5-year bond yield t.... More »
A growing number of millennials are resigning themselves to the fact that homeownership may be out of reach for them, according to a new poll. Nearly three quarters (72%) of millennials say they have a goal of owning a home, but nearly half (46%) admit that goal is a “pipe dream,” according to the KPMG […]