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

Interested in learning more about property mortgages in Canada? Look no further!

Latest News

Mortgage Digest: 5 big banks cut fixed mortgage rates following bond yield drop + MORE Feb 17th

Mortgage providers nationwide have been gradually lowering their fixed mortgage rates, including five of the country's Big 6 banks..... More »

60% of Canadian mortgage renewals to face higher rates by 2026: BoC Jan 14th

Despite interest rates having fallen materially in 2024, recent data show that many Canadian homeowners could still face payment shocks when their mortgages renew..... 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 »

Opinion: Mortgage loyalty isn’t given, it’s earned + MORE Feb 5th

Jill Moellering shares why clients aren’t just chasing the lowest rate—they’re looking for trust, service, and the right mortgage for their needs..... More »

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 »

OSFI’s stress test on mortgage switches ends today: What you need to know

– canadianmortgagetrends.com

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 »

Ask the Expert: Steve Garganis on how the US impacts Canadian mortgage rates

– canadamortgagenews.ca

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 »

Why are mortgages so expensive in Canada?

– moneysense.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.