Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
The Latest in Mortgage News: Time to Rethink the Stress Test Apr 21st
The stress test is back in the crosshairs of industry analysts. Earlier this week, CIBC World Markets Deputy Economist Benjamin Tal released a report that attributed an 8% drop in mortgage originations from 2017 to 2018 directly to the federal government’s stress test rules (B-20), which took .... More »
New mortgage rules take effect today; more may be coming on Monday, economist says + MORE Dec 15th
Two sweeping mortgage reforms take effect today, December 15, targeting housing affordability and easing financial pressures—changes that may be followed by more announcements this week..... More »
Manulife’s Natasha Duric: A 30-year mortgage career built on leadership and innovation Oct 13th
Natasha Duric describes her entry into the mortgage industry as “a fluke.”.... More »
Reaction to CMHC’s Clampdown on Mortgage Fraud Aug 13th
Last month the Canadian Mortgage and Housing Corporation (CMHC) formally asked the Canada Revenue Agency to take a more active role in verifying income claimed on mortgage applications in an effort to clamp down on mortgage fraud. The CMHC says the move is necessary given that “the industry’.... 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 »
Fixed vs Variable Mortgages
– mortgageshowdown.com
Fixed vs Variable Mortgages (to lock in or to float)
The Canadian mortgage markets have shifted and there is a legitimate conversation for the choice between fixed and variable mortgages. For the past two years the variable rate mortgage has been a poor choice for most clients. This is a result of the fixed and variable being almost the same rate, for example in May of 2013 we have five year fixed rate mortgages at 2.79% and five year variable mortgages at 2.70% (prime -.3). When the rates are as close as they were, unless there is a very specific reason for wanting a variable, the best choice for almost all of our mortgage clients was to select a fixed rate.
My personal rule is that once there is a 1% or larger gap between fixed and variable rates, then the variable is definately worth considering.
Currently we have a gap of 1%, with the fixed rates being ~3.59% and the variable being ~2.60%. My personal caveat is that although I will explain a strategy that we have used with many of our clients and have had tremendous results with, there are some clients that are truly a best fit for the fixed rate and I would never fault anyone for selecting the current fixed rates as they are historically excellent…
The Canadian mortgage markets have shifted and there is a legitimate conversation for the choice between fixed and variable mortgages. For the past two years the variable rate mortgage has been a poor choice for most clients. This is a result of the fixed and variable being almost the same rate, for example in May of 2013 we have five year fixed rate mortgages at 2.79% and five year variable mortgages at 2.70% (prime -.3). When the rates are as close as they were, unless there is a very specific reason for wanting a variable, the best choice for almost all of our mortgage clients was to select a fixed rate.
My personal rule is that once there is a 1% or larger gap between fixed and variable rates, then the variable is definately worth considering.
Currently we have a gap of 1%, with the fixed rates being ~3.59% and the variable being ~2.60%. My personal caveat is that although I will explain a strategy that we have used with many of our clients and have had tremendous results with, there are some clients that are truly a best fit for the fixed rate and I would never fault anyone for selecting the current fixed rates as they are historically excellent…
The Ultimate Mortgage Checklist
– canadianmortgagetrends.com
Have you ever had a sick feeling in your stomach after buying a car, or a big screen TV, or a boat, or expensive jewelry? It’s that nagging worry that…
