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Why are mortgages so expensive in Canada? + MORE Nov 21st

Interested in learning more about property mortgages in Canada? Look no further!
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Making sense of the Bank of Canada interest rate decision on March 12, 2025 + MORE Mar 13th

Today marks the seventh cut in a row for Canada’s benchmark borrowing rate, as our central bank does what it can to pad against tariff threats and possible recession.  The Bank of Canada (BoC) lowered its overnight lending rate—which lenders use to set their prime rates, and, by extensio.... More »

The best 5-year fixed mortgage rates in Canada May 24th

Mortgage rate comparison tool Customize the filters to compare rate types and terms. powered by Why trust us MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
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Mortgage Digest: HELOC usage rises to near two-year high as borrowing picks up + MORE Dec 18th

A regular review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
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Mortgage digest: More Canadians sidelined from homebuying as recession fears rise May 21st

A growing number of Canadians are pressing pause on homebuying plans as economic anxiety deepens, according to BMO’s latest Real Financial Progress Index..... More »
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Ask the Expert: Steve Garganis – What’s your Canadian mortgage strategy in Trump’s tariff war? + MORE Apr 15th

Make no mistake, we are in a war — an economic war. President Donald Trump has threatened, imposed, or temporarily reversed tariffs on just about every country in the world, including Canada. Canada will now see a 25% tariff on aluminum, steel, Canadian automobiles and non-CUSMA-compliant .... More »
Starting tomorrow, certain mortgage borrowers will find it easier to switch lenders, thanks to the removal of the requirement to qualify at a higher stress test rate.

Continue Reading On canadianmortgagetrends.com »

We all know that whatever happens in US it will affect Canada. Here is my next interview with RatesDotCa for their Ask The Expert edition – Steve Garganis on how the US impacts Canadian mortgage rates.

With President Trump making his return to the White House, financial markets are scrambling to make sense of what’s to come. And whatever our neighbours to the south do, Canada tends to follow. Here’s how this might shape your fixed mortgage rate in the near future. Read more – Interview with Steve

 I hope you will enjoy this article and if you have any questions or would like to discuss I am always available.

Your best interest is my only interest. I reply to all questions and I welcome your comments. Like this article? Share with a friend.

Steve Garganis: 416-224-0114; steve@canadamortgagenews.

Continue Reading On canadamortgagenews.ca »

Canada’s mortgage market has now absorbed four Bank of Canada (BoC) rate cuts, and house hunters are feeling the effects. The latest housing affordability data compiled by Ratehub.ca finds that lower mortgage rates made it easier to purchase a property in nearly every major Canadian housing market in October—a finding backed by a strong uptick in buying activity, as national home sales rose by 30% last month. (Ratehub Inc. owns both Ratehub.ca and MoneySense.) 

The monthly report provides a snapshot of how affordability is evolving in real time across Canada, based on real estate data from the Canadian Real Estate Association (CREA), changing mortgage rates and the mortgage stress test. It measures affordability by determining how much income is needed to qualify for a mortgage for the average-priced home in each market.

The October edition (updated monthly, so bookmark this page) reveals that affordability conditions improved in 12 of the 13 markets studied. This was mainly due to the fact that mortgage rates steadily decreased over the course of the month…

Continue Reading On moneysense.ca »

Banks.ca constantly finds the best and most current mortgage information available in Canada.

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