Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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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 […]

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Qualifying rate will go up soon


Yesterday BMO moved its special discounted rates up by 0.2%. Today RBC followed the same road. They have jacked up their rates by the same amount. Along with its discounted rates RBC went a step further – it has increased the posted five years fixed rate to […]

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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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Dawn is a year away for Canadian Overnight Lending Rate


Bank of Canada manages the overnight lending rates between banks. It oversees the interbank lending through its large value transfer mechanism (Large value is not really large sum of money, it could be much less too – it has to fall under a particular category of transaction […]

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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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Bank of Canada – Factors influencing Overnight Rate

The central bank is not going to pull any surprise out if its hat this time.  A recent Reuters poll showed that Bank of Canada is not likely to increase its interest rate till 2014. The decision to change the rate depends on many factors and Canadian […]

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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 […]

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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 […]

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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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Best credit score may not get the best rate

To get the best interest rate on your mortgage the first step is to have a good credit score.  It is very important to have an exceptional credit history and long standing good repayment record. Contrary to popular believe that is not all you need – to […]

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Should Bank of Canada raise interest rate?

To answer that question first we need to know why Bank of Canada is keeping the rates low. Looking at few news releases by the central bank – right after their interest rate decision announcement – will give us some idea. One thing will never be clear […]

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