Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Paying down your mortgage faster comes with trade-offs + MORE Apr 18th
While extra payments can reduce long-term interest costs, they may also limit liquidity, trigger penalties and crowd out other financial priorities.... More »
What does the new Canadian Mortgage Charter mean for home owners? + MORE Dec 10th
In its 2023 Fall Economic Statement, the federal government announced the Canadian Mortgage Charter. It’s a new initiative intended to address the housing affordability issues caused by rising interest rates, low housing supply and more. The charter, which sets out expectations for lenders, is the.... More »
I need to lower my monthly mortgage payments. Is extending my amortization period a good idea? Nov 16th
An extra five years might not seem like much, but the difference can be startling, says one expert..... More »
Canada’s financial consumer watchdog unveils guidelines to support at-risk mortgage borrowers Jul 6th
The country's financial consumer watchdog today unveiled new guidelines urging financial institutions to provide support to mortgage holders who are facing "severe financial stress" and are at-risk of default..... More »
The latest in mortgage news: National Bank among first to offer First Home Savings Account Apr 19th
National Bank has become one of the first of the big banks to make the new First Home Savings Account (FHSA) available to its clients..... More »
Mortgage Rates Keep Setting New Record Lows
– canadianmortgagetrends.com
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 to fall to its own record-low, which in turn is pulling down fixed mortgage rates. HSBC Canada led the trend earlier this month when it announced a 5-year fixed default-insured mortgage for 1.99%, […]
