Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Variable-rate mortgages regain popularity as Morningstar flags rising risks + MORE Feb 1st
Morningstar DBRS says mortgage portfolios should hold up in 2026 despite a soft housing market, while warning that rising variable-rate use and Alt-A exposure are key areas to watch..... More »
Mortgage brokers explained: What they do, and what they don’t (Part 1) + MORE Nov 12th
The first article in our three-part series breaks down what brokers actually do — and don’t do — and why some misconceptions persist..... More »
An inside look at how your loans — and spending — affect your credit score Apr 6th
Having a variety of loans could help strengthen your credit score — or harm it, depending on your spending and payment history. But a credit card, car loan and mortgage work differently, making it hard to know how to improve your number..... More »
Sub-6% U.S. mortgage rates vanish as Iran war sparks inflation fears Mar 7th
U.S. homebuyers had to act fast last week to nab the first sub-6% mortgage rates in more than three years. Now they’re up, and the new conflict in the Middle East threatens to nudge them higher..... More »
What’s moving Canada’s mortgage market this week Aug 5th
A few notable data points this week could offer fresh insight into housing activity and the broader economy..... More »
Mortgage Digest: 76% of newcomers fear making money mistakes, a chance for brokers to step up
– canadianmortgagetrends.com
A new TD survey shows widespread financial uncertainty among new Canadians, opening the door for brokers to play a more supportive role.Mortgage penalties explained, and how smart timing can save your clients thousands
– canadianmortgagetrends.com
Prepayment penalties can catch borrowers off guard, but for brokers who understand how they work, they’re a chance to support clients with timely advice and real savings.
There’s little change on the horizon for interest rates, as the Bank of Canada further entrenches into a holding pattern. The central bank chose to hold its trend-setting overnight lending rate—which is used by lenders to set their prime rates, and by extension, variable mortgage rates—at 2.75% in its latest interest rate announcement on July 30. As a result, prime rates will also remain unchanged at 4.95%.
This marks the third rate hold in a row from the Bank, following similar non-moves in June and April. Prior to this, the Bank was undergoing a cutting cycle, and had slashed its benchmark rate seven times, lowering it by 225 basis points between June 2024 and March of this year.
No surprises here—but risks remain
This most recent hold was widely anticipated by economists; the deal was roughly sealed when the June inflation numbers came in, showing consumer price growth had risen to 1.9%. Not just that, but the core measures of the CPI (called the median and trim, which strip out the upper and lower extremes of price growth) remain elevated at 3%…
