Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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Rates (fixed) are taking a nosedive – Can’t be at any better time

Please don’t let the headline fool you. Variable rate discounts are drying up a bit too. So, when fixed rates are descending then variable rates are running towards an opposite direction. Bond yields are sinking like a stone in water. Obviously recent share market hiccup forced the

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Watch the fixed rate – US Debt Ceiling deal is done (for now)

Canadian bond yield for five years goverment bonds. October 2013

The politicians in United States have reached a deal to end the latest political fiasco on the debt ceiling. (Somewhat like spouses quarrelling over whether to increase the limit on the credit card) As a result the fear of US default is pushed back till February 7th.

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Yield Curve Showing Momentum – Fix it if you can!

Zero coupon yield curve may not be an important chart for our daily schedule but when you are deciding what to do with the future of your mortgage then it comes handy. Yield curve is a reflection of the mind set of bond investors. It shows what

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Recent mortgage rate changes – how it can affect your purchase price

Since bond prices started to drop – banks are reconsidering their offers. Many mono-lines have already raised their rates. Big lenders are now moving their rates as well. BMO today upped its rate by 0.2% on five years fixed to 3.79%. Back-door rates will be a bit

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Five years bond yield reached two years high

Today Government of Canada five years benchmark bond yields surpassed last two years highs. It is very obvious fixed mortgage rates will follow soon. After reaching its 2013 low in April – it has been steadily going upward. Last month it took a brief pause and it

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Bond Yield are Dropping – Not Rates. Yet!

Five years Bank of Canada benchmark bond yield came down sharply in last few days – as it went up the steep slope not too many days ago. Mortgage rates are showing their usual stickiness while it comes to falling. Banks have been complaining about their thin

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Variable Rate Discounts Gaining Momentum Again

The story of variable rate mortgage has been like an ignored person for quite a while. The high discounts were long gone and until recently we were living with few BPS off here and there. Brokers were not making much off Variable Rates either. So, it was

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Yield jump prompted rate hike

Last week TD and RBC decided to hike their fixed rates – officially. This comes as no surprise as the bond market was slowly losing momentum and yields were going up. A 10 BPS jump in one day pushed the big Canadian lenders to take action. As

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Bond Yield Falling Again – Mortgage Rates Will Follow

Last year, in the beginning of June, Canadian five years bond yield dropped to 1.06%. This year the trend appears to be the same. Five years yield is now 1.17%. So far we have seen that in the wake of falling bond yields the lenders do lower

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Qualifying Rate Will Drop Soon

Canadian Finance Minister thanked the big banks (except BMO) for not getting into rate cut game along with BMO. I guess for now they will remain in the good book of our minister and let BMO have all the businesses :(. Fighting back or not – Canadian

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If you think 2.99% is the best then CIBC can surprise you

For short term fixed rate mortgage shoppers CIBC is a good place to start. Since Bank of Montreal came out with its 2.99 percent repeat offer – other banks are not sitting still. In the short term mortgage World now CIBC has its unique 3-3-3.1 offer. From

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Factors to consider – Before locking in a fixed rate mortgage

It is very tempting to go for a fixed rate mortgage as the difference between fixed and variable rate is at its historical low. Experts are advising (with OAC) consumers or home buyers to select fixed rate – citing future risk of raising interest rates. Let us

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