Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Unsure about buying a home? Why you should open an FHSA now anyway Dec 12th
Buying a home in Canada hasn’t been easy in recent years, but thanks to recent changes to mortgage rules, falling interest rates and more cuts expected in the months ahead, many prospective home owners are feeling freshly optimistic. It all starts with a down payment, though—and the bigger, the .... More »
Does buying GICs still make sense after the recent rate cuts? + MORE Apr 3rd
In March, the Bank of Canada (BoC) lowered its policy interest rate by another 25 basis points, from 3.00% to 2.75%. It was the central bank’s seventh consecutive cut.
What does it mean for Canadians as borrowers and savers when interest rate cuts happen? On the positive side, it mean.... More »
BMO reinstates OSFI’s stress test for uninsured mortgage switches + MORE Dec 21st
The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers..... More »
Lowest Winnipeg mortgage rates: Save with Cambrian Credit Union May 12th
When Canadians need a mortgage, they often default to the big banks—but there’s a whole other world of financing options to explore. Credit unions have competitive interest rates in Canada, including Manitoba, plus innovative mortgage options you may not be able to find elsewhere. Shopping aroun.... More »
Why three big banks raised fixed mortgage rates despite falling bond yields + MORE Dec 3rd
Despite low bond yields, banks and other lenders are continuing to raise rates. We talked to several rate experts to understand why..... More »
Mortgage rate war to intensify as lenders compete for renewal business, analyst says
– canadianmortgagetrends.com
Former Scotiabank Mortgage head John Webster weighed in, noting that the big banks’ competitive pricing is unsustainable and unlikely to continue for long.
Toronto and Vancouver mortgage arrears set to hit highest levels in 10 years, CMHC warns
– canadianmortgagetrends.com
Mortgage arrears in Toronto and Vancouver are on track to rise to levels not seen in over a decade, according to a new forecast from Canada’s housing agency.
