Renewal Rate Shock Diminishing, Says BoC + MORE Nov 9th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Is choosing a mortgage as easy as booking a trip or trading a stock?   Let’s find out! 
Sure, you can book a flight online or buy a stock through the web.  But, can you really choose the right mortgage product on your own?  Can you really find the absolutely lowest cost mortgage financing option?  I’ll bet some consumers can. I’ll also bet the vast majority cannot.  There’s a steady stream of horror stories, on this news site and others, that show just how costly and financially dangerous it is to be in the wrong mortgage product, with the wrong lender.
I’ve shared dozens of those experiences on this site.  Consumers who were directed into the wrong mortgage by their Banker or by some web site claiming to offer ‘the lowest rate’.  I empathize with these consumers as I believe they were just trying to save some money but instead ended up paying far more than they had to.
We can find it all online, but can you do it all yourself?
The big trend over the past 15 years is to move all business online…

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Mortgage Growth Slows in First Half of 2019

– canadianmortgagetrends.com

Residential mortgage growth was down more than 7% in the first half of 2019 compared to a year earlier, likely caused in part by the federal government’s mortgage stress test, according to new data from the Canada Mortgage and Housing Corporation (CMHC). The quarterly Residential Mortgage Industry Dashboard shows new originations by the country’s chartered […]

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Renewal Rate Shock Diminishing, Says BoC

– canadianmortgagetrends.com

Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. “The average household renewing […]

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