President's Choice Fin'l – 8 year Closed : 4.24% (0.07%) + MORE Jul 13th

A Period of Transition
If Canada’s current economic standing, and the resulting housing market, had to be crowned with a theme, “transition” would fit the bill. There are a number of factors shaping the state of real estate and borrowing in our country, both macroeconomic and domestic. Let’s break down the main game changers affecting today’s mortgage consumer – and how they may change in the near future.
 A Market Battered By Bond Yields
Government bond activity, a benchmark for fixed mortgage rates, is suffering the effects of a self-fulfilling prophecy, as yields have skyrocketed to new highs over the month of June. The spike started with warnings that the U.S. Fed plan to phase out their quantitative easing measures – a key method of economic stimulus that pumps $85 billion monthly into the U.S. economy. This is accomplished by the government buying up its own bonds, which in turn keeps yields – and interest rates – low. The news that the program may end by 2014 sparked a panic among those with interest-sensitive investments, which were promptly dumped in markets globally…

President’s Choice Fin’l 6 year Closed mortgage rate was changed on July 08, 2013

July 12, 2013
Entering the mortgage market can be incredibly overwhelming for first time home buyers (heck – it’s a lot for anyone to take in!). With summer traditionally such a hot buying market, this week’s Money Wise guide is all about common first timer pitfalls – and what you can do to avoid them!
From choosing your mortgage term to dealing with new affordability rules, we’ve got you covered. Read on, and you’ll be well on your way to making your best decision for home, sweet home.
Should You Choose a Long Or Short Term Mortgage?
Scoring the lowest interest rate is often top of mind among mortgage shoppers – but choosing the right mortgage term length can have a profound effect on the what payments will look like.
A long term mortgage provides stability, while shorter terms offer flexibility and the ability to move with the market – but which is right for you? Read on to find out!
Read Allan’s Blog | Long Or Short Term Mortgage?
CMHC Mortgage Changes: 1 Year Later
It was this time last year that the CMHC shook up the housing market with affordability restricting rules…

The reports of the demise of Canada's housing sector appear to have been greatly exaggerated. According to the Royal LePage House Price Survey, housing prices across the country continue to post relatively modest gains, and home loans have been kept in check, leading to market stability. And, defying those who had predicted an imminent collapse, it doesn't appear there will be any extreme price movement either way through at least the end of 2013 and probably into 2014.
Avoiding the housing bubble
Four different sets of rules have been issued by the Department of Finance since the worldwide housing bubble collapse in 2008, all of which increased lending restrictions. Those efforts, along with the creeping rise in mortgage rates over the past few months, appear to have helped the Canadian housing sector into a soft landing, avoiding any possible catastrophe.
"As we have stated consistently since the current market downturn began late in the second quarter of 2012, this is a normal cyclical correction which brings fewer home sales and softer prices," said Phil Soper, president and chief executive of Royal LePage…

President’s Choice Fin’l 8 year Closed mortgage rate was changed on July 08, 2013