Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
2024 mortgage market: A year in review Jan 2nd
The past year marked a turning point for Canada’s housing and mortgage market, with rate hikes giving way to rate cuts, alongside numerous regulatory changes and new government program announcements..... More »
HomeEquity Bank raises $200M through CHIP Mortgage Trust note sale May 3rd
Oversubscribed issuance underscores investor demand for reverse mortgage-backed funding.... More »
Fixed mortgage rates may not follow Bank of Canada cuts, former TD economist warns + MORE Nov 12th
While plenty of consumers believe the Bank of Canada’s steady interest rate cuts will drop mortgage rates meaningfully across the board, economist Don Drummond isn't so sure that prediction applies to fixed rate mortgages..... More »
Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
The latest update to the Consumer Price Index (CPI) basket gives even more weight to shelter costs—particularly mortgage interest and rent—underscoring just how much housing expenses are shaping the inflation experience of Canadians..... More »
OSFI leaves mortgage stress test in place, reaffirms LTI limits for lenders + MORE Jan 29th
OSFI offered no new direction on the qualifying rate, but reiterated that loan-to-income caps for uninsured mortgages remain in place and opened a new six-month consultation tied to its broader guidance review..... More »
Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
– canadianmortgagetrends.com
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.
Toronto housing bubble: Is it ready to pop?
– moneysense.ca
The Toronto real estate market has experienced remarkable growth over the past two decades. The average home price in Toronto surged by a staggering 489% from 2000 to 2022, according to the Toronto Real Estate Board (TRREB). This rapid price growth has raised concerns about the future of affordable homeownership. And with good reason.
You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
Is Toronto affordable?
For instance, the average Toronto home in 2021 was $1,095,175, while the median household income was $84,000, which equates to a price-to-income ratio of 13. To put that in perspective, the price to income ratio in 2010 was 7.4.
The fact is: wages have not kept up with home prices. For future generations, the goal of owning a home in the Greater Toronto Area is looking more like a pipe dream…
