Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
How the BoC interest rate cut will affect mortgages + MORE Jan 22nd
(Adam Gault/Getty Images)
Amid sliding oil prices and a sluggish Canadian economy, the Bank of Canada defied prior predictions and actually lowered the key interest rate today by a quarter-percentage point—from 1% to 0.75%.
It’s the first time the central bank has moved the overnight rate si.... More »
Canadians want to age in place and are turning to reverse mortgages to make that happen May 28th
More than 9 out of 10 Canadians want to be able to live out their retirement years in the comfort of their home, and reverse mortgages are increasingly being used to make that a reality..... More »
Consider the cost of penalties when breaking a mortgage Oct 17th
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OTTAWA – Mortgage rates are near-record lows, but brokers say those shopping around for a loan should look beyond the rates they’re being offered and pay close attention to how much.... More »
The Latest in Mortgage News: Ontario Teachers’ Pension Plan to Buy HomeEquity Bank Sep 26th
The Ontario Teachers' Pension Plan Board has taken a major investment stake in Canada's rapidly growing reverse mortgage market with its acquisition of HomeEquity Bank..... More »
December Debt Worries + MORE Dec 14th
Just in time for the holidays… two debt reports are out with some not-so-cheery news for Canada’s economy. Not only are we carrying way too much consumer and mortgage debt, but our biggest assets (namely our homes) aren’t worth as much as we think they are.
What’s to make of this economic d.... More »
RBC Hikes Discounted and Posted Fixed Mortgage Rates
– ratesupermarket.ca
Royal Bank of Canada is the latest lender to hike its fixed mortgage rates, applying a 20 to 30 basis point increase to a number of its special offer and posted offerings.
Effective Thursday, August 22, RBC’s rates will be as follows:
Discounted rates:
four-year fixed: 3.59 per cent (+20)
five-year fixed: 3.89 (+20)
seven-year fixed: 4.19 (+20)
10-year fixed: 4.59 (+30)
Posted rates:
three-year fixed: 3.95 (+20)
four-year fixed: 4.74 (+20)
five-year fixed: 5.34 (+20)
Why Are Mortgage Rates Going Up?
Mortgage rates have been on an upward trajectory over the summer months, as a tightening government bond market and new CMHC restrictions have shrunk funding options for banks. As a result, the higher costs facing lenders are being passed down to the customer in the form of higher rates.
Bond yields, which indicate the level of investor interest in the Canadian economy, and are directly linked to fixed mortgage rate levels, continue to reach new highs. As of today, five-year bonds are yielding 1…
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Zolo Mortgages Ltd. Position Title: Mortgage Specialist (Guaranteed draw) Years of Experience Required: 1-3 years Licences or Registrations Required: Licensed with FSCO as broker or agent Location of Position:…
Dominon Lending Centres Main Quebec – 10 year Closed : 4.19% (0.2%)
– ratesupermarket.ca
Dominon Lending Centres Main Quebec 10 year Closed mortgage rate was changed on August 16, 2013
Home Trust Company – 4 year Closed : 3.24% (0.15%)
– ratesupermarket.ca
Home Trust Company 4 year Closed mortgage rate was changed on August 19, 2013
