Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Does buying GICs still make sense after the recent rate cuts? + MORE Apr 3rd
In March, the Bank of Canada (BoC) lowered its policy interest rate by another 25 basis points, from 3.00% to 2.75%. It was the central bank’s seventh consecutive cut.
What does it mean for Canadians as borrowers and savers when interest rate cuts happen? On the positive side, it mean.... More »
B.C. home sales struggle in May as mortgage rates rise and labour market stays weak + MORE Jun 14th
Rising mortgage rates and a weaker labour market are weighing on home sales in British Columbia, especially in the Lower Mainland. .... More »
The State of Rental Financing + MORE Apr 18th
Last November the Department of Finance banned default insurance on single-family rentals. That was a near-knockout blow to the rental financing businesses of lenders who rely on securitization. Since then, lenders who compete with the big banks have been forced to find new balance sheet funding. Th.... More »
Can I cancel my mortgage life insurance? It’s too costly + MORE Jan 26th
Q: My daughter and her husband did not earn enough, so my wife and I decided that we would help them by putting her name on the mortgage for the purchase of a new-build condo in Hamilton, Ontario. We opted to go with RBC and the mortgage was approved at a rate of 2.65%. In order to get the mortgage.... More »
The Latest in Mortgage News: Canadians Divided Over Home Price Expectations Jan 4th
Following a record year of home price increases, Canadians remain divided over where they expect (and hope) prices will go from here..... More »
Meridian CU Keeps VRMs Interesting
– canadianmortgagetrends.com
Numerous lenders trimmed their variable-rate discounts last week, lifting rates anywhere from 5 to 15 basis points. Higher short-term funding costs are largely to blame. Have a look at this chart of 12-month bankers’ acceptances (BAs), which roughly correlate with lenders’ projected funding costs for variable-rate mortgages. BA rates usually rise when traders expect Bank of Canada rate hikes. That’s not the case here. Instead, BAs have risen in the face of higher perceived credit risk. Since August 24, when the Chinese stock market crash rattled financial markets worldwide, the 12-month BA rate is up 10 bps. Even the 1-month BA, READ MORE
No October Scare in Sight for Mortgage Rates
– ratesupermarket.ca
RateSupermarket.ca’s Expert Panel Calls for Fixed and Variable-Rate Consistency
Looking to buy a home in the off-season? The approach of the holidays may slow buyers’ voracious real estate appetites, but this summer’s sizzling rates are expected to stick around. A consistent bond market leads the way for low fixed rate offerings, while the Bank of Canada is expected to sit tight on the variable cost of borrowing this month.
Fixed Mortgage Rates: Unchanged
Mortgage season is beginning to slow and with it, lenders’ competitive practices – but that doesn’t mean fixed rates are in for a hike. Non-action from the U.S. Federal Reserve has left Canadian bond yields within a very tight range, meaning lenders can continue to offer this seasons’ great discounts. Buyers will still access historically low rates for their mortgages over the coming month.
Variable Mortgage Rates: Unchanged
Canada may have experienced a recession in the first half of the year, leading the Bank of Canada to cut interest rates twice since January…
Looking to buy a home in the off-season? The approach of the holidays may slow buyers’ voracious real estate appetites, but this summer’s sizzling rates are expected to stick around. A consistent bond market leads the way for low fixed rate offerings, while the Bank of Canada is expected to sit tight on the variable cost of borrowing this month.
Fixed Mortgage Rates: Unchanged
Mortgage season is beginning to slow and with it, lenders’ competitive practices – but that doesn’t mean fixed rates are in for a hike. Non-action from the U.S. Federal Reserve has left Canadian bond yields within a very tight range, meaning lenders can continue to offer this seasons’ great discounts. Buyers will still access historically low rates for their mortgages over the coming month.
Variable Mortgage Rates: Unchanged
Canada may have experienced a recession in the first half of the year, leading the Bank of Canada to cut interest rates twice since January…
