Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Looser Mortgage Standards Hit the UK! Is Canada Next?! Aug 28th
There’s nothing surprising about the loosening of mortgage standards to spur growth. In the last real housing bubble of 1990, banks and government brought in stricter lending rules, making it tougher for borrowers to get a mortgage.
Fast forward to the present. We’ve yet to see a housin.... More »
Canada's big banks cut credit card interest rates to ease coronavirus impact - CBC.ca + MORE Apr 4th
Canada's big banks cut credit card interest rates to ease coronavirus impact CBC.caBig Six banks cut credit card interest rates to ease COVID-19 impact CanoeCanadian banks pause payments on 10% of mortgages as they field 500,000 requests for deferrals Financial PostI.... More »
Romy Bowers Named New CMHC CEO as Outgoing Evan Siddall Addresses Off-the-Mark Forecasts + MORE Mar 5th
The Canada Mortgage and Housing Corporation has named its new CEO, capping what has been an extended search to replace outgoing chief Evan Siddall. Romy Bowers, CMHC’s current Vice President of Client Solutions, will succeed Siddall and officially begin her five-year term starting April 6. .... More »
Higher renewal costs test household budgets in Ontario and B.C., says Equifax Sep 13th
Equifax reports that rising renewal costs are testing household budgets, with Ontario and B.C. most exposed, while mortgage growth remains muted..... More »
Are Toronto House Prices Headed Back to 2016 Levels? + MORE Feb 13th
Concern is growing that Canada’s largest housing market may be about to experience a new round of froth, similar to that seen in 2016. Back then, red-hot housing markets in the Greater Vancouver and Toronto Areas ultimately forced the federal government to introduce the 2016 and 2018 mortgage stre.... More »
Monday Makeover looks at single woman who earns $60,000-a-year, is mortgage-free and wonders if rent from a basement apartment can help with her retirementTORONTO – Just when you thought mortgage rates couldn’t get any lower, they have.
Investors’ Group is offering a 36-month closed, variable-rate mortgage at 1.99 per cent, well below the current standard of around three per cent.
The mortgage is also well below the 2.99 per cent level that drew sharp criticism from former finance minister Jim Flaherty when BMO first tried it, because he was worried it would trigger a damaging housing bubble.
Joe Oliver, who took over from Flaherty, has said he has no plans to intervene in the setting of mortgage rates, calling it a “private” decision by lenders.
Royal Bank made waves in January when it lowered its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69 per cent. It now sits at 4.94 per cent, while the variable five-year rate is at three per cent.
RBC said at the time the rates were lowered to match competitor pricing, and several other big banks followed suit.
The post Mortgage rates hit new low with Investors’ Group 1…
Investors’ Group is offering a 36-month closed, variable-rate mortgage at 1.99 per cent, well below the current standard of around three per cent.
The mortgage is also well below the 2.99 per cent level that drew sharp criticism from former finance minister Jim Flaherty when BMO first tried it, because he was worried it would trigger a damaging housing bubble.
Joe Oliver, who took over from Flaherty, has said he has no plans to intervene in the setting of mortgage rates, calling it a “private” decision by lenders.
Royal Bank made waves in January when it lowered its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69 per cent. It now sits at 4.94 per cent, while the variable five-year rate is at three per cent.
RBC said at the time the rates were lowered to match competitor pricing, and several other big banks followed suit.
The post Mortgage rates hit new low with Investors’ Group 1…
Breaking a closed mortgage can be costly: Roseman
– thestar.com
You can get a low mortgage rate by signing up for a five-year term. But you could be penalized for an early exit if your plans change. Canada’s mortgage market was shaken up with a mortgage rate below two per cent on Tuesday as Investors Group unveiled a three-year variable rate mortgage at 1.99 per cent.
