Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Housing starts stable in 2023, but demand still outpaces growing supply of apartments + MORE Mar 28th
The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments—despite demand still outpacing supply for rental housing.
The agency released its biannual housing su.... More »
The best credit cards for newcomers to Canada for 2024 + MORE Jul 29th
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... More »
CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses + MORE Mar 4th
CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren't expected to translate into "material" losses, the bank said..... More »
Big Banks Announce Mortgage Deferral Relief for Homeowners + MORE Mar 20th
Canada’s big banks announced this week that those struggling due to the COVID-19 crisis will be able to defer their mortgage payments for up to six months. The coordinated announcement came from the Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank, and will b.... More »
Scotiabank “intentionally slowing” its mortgage portfolio + MORE Mar 2nd
With its new CEO now at the helm, Scotiabank has laid out its plans for a shift in focus in terms of how its funds its loan book..... More »
Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More?
– ratesupermarket.ca
Your finances are in order and you’re pretty sure you can qualify for a mortgage. Congratulations, this is the first step on the road to homeownership. But can you pass our mortgage myths test?
If you’re a newbie homebuyer, making your way through the maze of mortgage terms, types, and down payment requirements is tough. According to a recent study, 92% of Canadians see at least one barrier to homeownership standing in their way and is causing concern. Two of their top worries are related to the mortgage process, with more than half of Canadians seeing their ability to qualify for a mortgage as an obstacle.
While we can’t control rising interest rates, we can help you become better informed about the mortgage process. We invite you to take our quiz and debunk some popular (but false) mortgage myths along the way.
The post Minding Your Mortgage Myths Quiz: How Much Do You Know About Down Payments, Mortgage Rates, and More? appeared first on MoneyWise.
Why Are Some Mortgage Rates Rising?
– canadianmortgagetrends.com
Fears over the COVID-19 pandemic and plummeting oil prices have caused mortgage rates to plummet to multi-year lows over the past couple of weeks. But now some lenders are actually starting to raise rates. Fixed rates on certain terms have been creeping back up, while some of the big banks have been quietly cutting their discounts on prime rate (which affects floating rates). Scotiabank, for example, raised its published 5-year closed variable rate 60 percentage points on Saturday, from 3.45% […]
