Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
Call Us: 416-930-1225

Mortgage defaults – remained stable for a while

Actual five years fixed mortgage rates offered by brokers

Apart from Alberta, numbers of mortgage defaults or payment misses have remained steady for last two years. Average Canadian mortgage arrear rate has stabilized close to 0.3%. Actual mortgage rate stayed almost flat during this period. That suggests a close correlation between the two – interest rate

Read more

Bond yields are slipping away – Mortgage Rates – not so much

Canadian Benchmark bond yield - five years - Bank of Canada

Since Bank of Canada declared that it has no intention to kick start the bullish run for the overnight rate – the bond market started to show strength. Our expectation from the debt deal in US was that it may return the bond yields to their past

Read more

Influence of Mortgage Rate News on Real-estate Market

Last month Canadian housing saw a surge in resale activities. In the major cities – resale transactions posted a significant jump. This jump made many believe that the initiating event is mortgage rate hike in May 2013. That assumption is not that bad. From May to August

Read more

Qualifying rate went up – A quick review

Bank of Canada finally changed the qualifying rate to 5.34%. That means a borrower either have to show a bit more income or have a lower budget to purchase a home. That is applicable if only you are interested in a less than five years fixed mortgage

Read more

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

Read more

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

Read more

Mortgage rate raise – Worst is yet to come?

In last two years there have been few instances when bond yield started to move up sharply. Mortgage rate then used to track bond yield fairly fast if it was to do with raising the rates. It always showed a resistance when it was time to fall

Read more

Flaherty’s dream came true – Rate has gone up

Finally, without any divine intervention – lenders have managed to jack their interest rates up. Started on late Thursday by RBC followed by TD – finally the ripple has reached the brim. Almost all the lenders have raised their interest rates. Industrial Alliance – late this day

Read more

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

Read more

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

Read more

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

Read more

Low Mortgage Rate is Not the Only Factor For High Consumer Debt

BMO started its low rate campaign again, five years fixed mortgage rate for 2.99%. The bank did the same last year also it stopped and started the advertising few times during 2012. Make no mistake, it also offered rates lower rate than 2.99% to some of its

Read more
Page 1 of 4123...Last »