Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Making sense of the Bank of Canada interest rate decision on July 30, 2025 + MORE Aug 1st
There’s little change on the horizon for interest rates, as the Bank of Canada further entrenches into a holding pattern. The central bank chose to hold its trend-setting overnight lending rate—which is used by lenders to set their prime rates, and by extension, variable mortgage rates—at 2.75.... More »
Why are mortgages so expensive in Canada? + MORE Feb 26th
The start of 2025 kicked off with fewer home sales than many hoped. Real estate prices ticked higher in many of Canada’s major markets—and prospective home buyers saw their purchasing power shrink.
Ratehub.ca just released its latest January Affordability Report. (Both MoneySense and Ratehub..... More »
Mortgage debt taking up a record share of income Mar 17th
Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household dispos.... More »
How much credit card debt does the average Canadian have? + MORE Sep 23rd
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
RBC and NBC are the latest big banks to hike fixed mortgage rates + MORE Jun 3rd
RBC and National Bank became the latest Big 6 banks to increase their posted fixed rates this week, following previous increases by BMO and CIBC..... More »
Surprise, Surprise: No Rate Hike From Bank of Canada
– canadamortgagenews.ca
For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret ever buying a home.
It’s December. None of that has happened.
Two days ago, the Bank of Canada met for the last time in 2021 and decided to maintain their benchmark rate. All of the noise you’ve been hearing about the risk of homeownership and inviability of variable rate mortgages ended up being exactly that: noise. So many trusted voices predicted a reckoning by the end of 2021. And yet, 2021 is almost over. Zero of the eight annual Bank of Canada meetings resulted in a rate increase.
To be clear, I’m not saying that rates will remain as is for the next two years. Inflation will continue to rise and the economy will continue to grow. Rates this low can’t stay this low forever…
