The Latest in Mortgage News + MORE Jan 26th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Should You Apply For a Loan or Line of Credit? Apr 8th

Banks offer a variety of products to give you access to cash. But is every borrowing option the same? If you’re weighing the alternatives, you may struggle with the choice between a loan and line of credit. Only you can decide what’s best for you, but there are some factors to consider..... More »

Morneau not considering extending mortgage stress test to cover more lenders + MORE Jan 29th

Federal Finance Minister Bill Morneau says he is not considering imposing stress tests on private mortgage lenders..... More »
 home equity

CMHC Makes Dividend Payments to Government: What are They and Who do They Help? + MORE Apr 5th

  Starting in 2017, the Canada Mortgage and Housing Corporation (CMHC) has been making both special and regular dividend payments to its shareholder, the Government of Canada. The largest sum was for $4-billion in June 2017, which was spread over two years. At that time they announced the impl.... More »

How to Use a Mortgage Calculator + MORE Apr 18th

  Looking at mortgage rates for a new house? Need a mortgage calculator? Canada residents know it’s easy to fall in love with your dream home. But, it helps to factor in the mortgage loan amount and interest rate beforehand. You want to determine how much house you can afford  -  p.... More »
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Home Sales Fall Sharply From January + MORE Mar 15th

The Canadian Real Estate Association reported today that national home sales plunged 9% from January to February, with 75% of local markets, including all major cities, recording fewer transactions. It’s not the first time CREA has reported such a steep month-over-month decline—home sales also d.... More »

The Latest in Mortgage News


As we do each month, we’ve rounded up some of the latest real estate and mortgage-related news from the past few weeks: Vancouver’s Housing Market Earns Dubious Honour Vancouver home prices may be falling now, but their record-high levels throughout 2018 have earned Vancouver the distinction of being ranked the world’s second-least affordable city. The […]

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Rarely do banks leave the mortgage broker direct channel and return. This is one of those times. National Bank will once again be distributing the bank’s branded mortgage products directly through mortgage brokers in a new partnership with M3 Group. It is easily the best news story brokers have had in months. The partnership will […]

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Should I Get a Variable or Fixed Mortgage? RBC Cuts Rates and the Answer is No Longer Clear
Last week, Canada’s biggest bank, RBC, cut its five-year fixed rate by 15 basis points. This gave customers the option to lock in their mortgage rate at 3.74 per cent, for a five-year term. And surely enough, TD Bank and BMO Bank of Montreal followed suit and cut their five-year fixed rates to the same level. Currently, CIBC is asking all customers to call in for more details on its five-year fixed rate, and Scotiabank is not showing the same 15-basis-point cut.
The move by some of Canada’s commercial banks is overdue. Unlike variable-rate loans that are affected by the Bank of Canada’s benchmark rate, fixed rates are tied to the bond market, and bond yields have been sinking over the last two months.
The yield for the Government of Canada benchmark five-year bond fell from a high of 2.48 per cent last October to a low of 1.76 per cent on January 3. At the time of writing this article, the bond yield has recovered slightly but still remains lower than two per cent. This means it’s cheaper for commercial banks to borrow money at a fixed rate and, therefore, they can pass down those interest rate savings to their mortgage customers…

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Mortgage Professionals Canada has renewed calls for changes to the federal government’s stress tests, arguing they pose serious risk to the housing market and overall economy. The association’s annual report on the state of the mortgage market, authored by its Chief Economist Will Dunning, followed up on previously published concerns over the federal government’s mortgage […]

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