The State of the Mortgage Market: 2020 + MORE Mar 14th

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The Latest COVID-19 Mortgage Developments: Rates on the Rise + MORE Mar 23rd

Mortgage Rates Rising Rapidly Canada’s Real Estate Market Faces Uncertainty Call to End to Open Houses Mortgage Payment Deferral Challenges Filogix’s Expert Victim of Ransomware Attack Mortgage Rates on the Rise Banks and other mortgage lenders have been frantically raising rates since last week.... More »

Should You Borrow Money to Make a Down Payment on a New Home? + MORE Mar 26th

Saving for a mortgage down payment can be a long and tedious process. According to the Canadian Real Estate Association, the average price of a Canadian home was $540,000 in February, a 15.2% increase compared to a year earlier. You would need to save $108,000 just to make a standard 20% down payme.... More »
 home equity

Prime Rate to Fall as BoC Delivers Second Emergency Rate Cut + MORE Mar 29th

It’s official, Canada’s prime rate will fall to 2.45% following the Bank of Canada’s emergency rate cut on Friday. RBC once again led the way by confirming it would match the BoC’s 50-bps rate cut by dropping its prime rate to 2.45%. Scotiabank, TD, BMO and CIBC then followed in quick succes.... More »
 home loans

Big Banks Announce Mortgage Deferral Relief for Homeowners + MORE Mar 20th

Canada’s big banks announced this week that those struggling due to the COVID-19 crisis will be able to defer their mortgage payments for up to six months. The coordinated announcement came from the Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank, and will b.... More »

The State of the Mortgage Market: 2020


Mortgage Professionals Canada has released its latest State of the Mortgage Market report today, which is chock full of new stats and insights into the Canadian mortgage market. Despite regular headlines about rising home prices and overvaluation in the country’s largest centres, the report finds that Canadians continue to see homeownership as an important element of their long-term financial plans. “Canadians have also remained prudent with their spending habits on housing, which is evidenced in today’s report,” notes author Will […]

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Canadians Are Picking Price Over Personalized Mortgage Advice
Canadian homebuyers are seeking the best mortgage price, even if that means sacrificing personalized mortgage advice, according to a recent survey conducted by Of those mortgage shoppers, 63% admit they are open to using online lenders if the price is right.

How Low Can You Go?
Nearly half (45%) of mortgage shoppers say they would need to save at least 0.05 to 0.20 percentage points on the rate to use an online lender. While 18% of shoppers say they wouldn’t need any incentive. Only 16% of Canadians say they won’t use an online lender.
A further breakdown reveals just how much Canadians are hoping to save.

The Interest Rate Savings Needed to Sway Canadians to Use an Online Lender
Percentage of Canadians




0.20%-points or more

Compare mortgage rates from Canada’s most-trusted lenders at
Mortgage Shopping Key Considerations
When it comes to shopping for everyday items, brand names can play an important factor…

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