Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Inflation holds steady at 1.7% in May Jun 26th
May inflation figures showed marginal improvements in some of the Bank of Canada’s closely watched price figures—a step in the right direction, some economists say, but likely not enough to convince the central bank to cut interest rates.
The annual pace of inflation held steady at 1.7% in Ma.... More »
Renewing your mortgage but planning to sell soon? Read this first May 12th
Why flexibility and penalties can matter more than rates if you plan to sell within the next 12 months.... More »
A Pre-Approval Does Not Guarantee a Mortgage Approval + MORE Apr 28th
Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms a.... More »
Ask the Expert: Steve Garganis – How Trump’s tariffs will affect your Canadian mortgage + MORE Feb 1st
I will start with a quote from Trump’s book, The Art of the Deal
“I aim very high and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes I settle for less than I thought but I still end up with what I want.“
In the summer of 2016, ahead of .... More »
Extra costs that come with living in the suburbs + MORE Apr 15th
TORONTO — Jess Morgan rents in the country’s hottest housing market and has been saving for the past six years for a down payment on her first home.
She and her husband plan to start house hunting within the next two years in nearby Oakville, likely while continuing to work in downtown Toro.... More »
MCAP 79. A New Twist in “A” Mortgages
– canadianmortgagetrends.com
As those in the mortgage business are painfully aware, Department of Finance rule changes have made low-ratio mortgage insurance far more expensive—well over 200% more expensive in some cases. For mortgage finance companies who rely on insurance for securitization, that’s a serious problem. One of the more inventive solutions to this problem comes from MCAP, with its new “MCAP 79” mortgage. The product, which launched last week, comes with an eye-catchingly low 5-year fixed rate (as low as 2.29% at 65% LTV). There’s also a 1% fee, which can be capitalized into the mortgage. MCAP uses the 1% upfront fee to offset its insurance READ MORE
